Integrated aviation

manufacturing solutions

BBBEE

BBBEE - Policy

Aerosud views BBBEE as a vital component of the broader transformation imperative in South Africa.

The goal of this strategic imperative is to address the imbalances of the past by transferring more ownership, management and control of South Africa's financial and economic resources to the majority of its citizens and focusing on broadening and improving meaningful black participation in the economy.

Aerosud recognises the importance of multi-faceted, broad based and integrated approach to Black Economic Empowerment in the transformation of the macro socio economic space where it is active, as well as for the long-term sustainability of its business.

In this context, Aerosud has developed its BBBEE policy based on the following principles:

  • Aerosud recognizes its responsibility towards the shareholders, to continually deliver attractive returns on their investments and that any BBBEE initiative must remain cognisant of the interests of shareholders and stakeholders in the business.
  • An inclusive approach to BEE which is broad based and deliberately advances previously disadvantaged communities, ensuring that the benefits are spread as widely as possible.
  • The empowerment of Aerosud's own employees and their families remains a priority.
  • Being a responsible corporate citizen, Aerosud has a role to play in the economic development and social upliftment of the broader society.
  • In advancing BBBEE, Aerosud ensures at all times, that there is a positive net effect on its business interests.
  • Human resource development, skills transfer and training as well as the development of local suppliers remain critical components for sustainable BEE and are a key ingredient of the BBBEE program.

BBBEE - Employee Trust

The Aerosud Employees Trust was established in 2014 as a vehicle to hold, administer and manage shares in Aerosud for the benefit of its lower-paid employees.

12 % of the issued Shares in Aerosud Holdings were acquired by the trust with funding provided by the Industrial Development Corporation of SA as financing partner

The beneficiaries of the trust took part in a democratic and transparent consulted process to develop the trust deed and to establish the trust.

In keeping with the goals and objectives of Broad-Based Black Economic Empowerment as expressed and promoted by the IDC, the majority of the Beneficiaries of the Trust shall always comprise of HDSAs that are permanent employees of the Founder and whose salary on a cost to company basis does not exceed a Threshold Hourly Rate.

Dividend proceeds and returns from the investment in Aerosud are intended for the direct financial benefit of beneficiaries as well as supporting activities that are meant to uplift the Beneficiaries and their families, such as but not limited to providing bursaries, funding for emergency medical needs, retirement planning, etc., thereby increasing their wealth and improving their socio-economic well-being.

A Board of Trustees have the responsibility for the management of the Trust according to the Trust's objectives.

The Board of Trustees comprise of seven (7) Trustees, constituted as follows:

  • Four Elected Trustees as nominated by the Beneficiaries;
  • One Founder Trustee as appointed by the Aerosud Board of Directors;
  • One IDC Trustee as appointed by the IDC Board of Directors;
  • One independent Trustee appointed by unanimous agreement by the above six Trustees;
The Elected Trustees shall always consist of majority Historically Disadvantaged South Africans ("HDSA") and as a minimum one of the Elected Trustees shall be a female HDSA.

One representative trustee are elected and appointed on the Aerosud Board of Directors.

 

Creating NEW opportunities in South Africa