PPC is committed to the national broad-based socioeconomic transformation objectives of South Africa beyond 2014. PPC's transformation path continues to be guided by PPC's REAL transformation philosophy, which is at the heart of all its initiatives and refers to transformation that is relevant, empowering, actualised and lasting.
PPC consulted and engaged with various national and provincial government departments and municipalities during 2008 in pursuit of realising its REAL transformation objectives.
PPC is firmly committed to black economic empowerment in South Africa and recognises that meaningful participation by black people in the mainstream economy is essential to sustain the country's socio-economic objectives.
PPC has realigned its shareholding to include broad-based groupings of black shareholders, including employees and communities. This culminated in the announcement of a broad-based black economic empowerment transaction.
The Broad Based Black Economic Empowerment (BBBEE) transaction created and transferred equity into black hands through various broad-based trusts, a consortium of four Strategic Business Partners and two Community Services Groups.
The equity distribution to achieve this sustainable and all encompassing transaction was as follows:
The total value of the BBBEE transaction is R2, 7 billion, which represents 15,29% of the value of PPC. The funding of this transaction has been achieved through innovative funding structures that release the maximum benefit to the broad-based participants at the earliest possible time through the payment of dividends.