BEE
BEE
A multi-faceted approach to BEE has been adopted which aims to increase the number of previously disadvantaged individuals that manage, own and control RACEC. The three core elements of the BEE Act are direct control through ownership of an organisation’s equity, human resource development and employment equity, and indirect empowerment through preferential procurement policies. Some examples of this are:-
- Skills Development: RACEC has made a significant investment in skills development of employees from previously disadvantaged backgrounds.
- SMME’s: The Group has assisted a number of previously disadvantaged individuals with potential in starting their own businesses.
- Joint Ventures/Partnerships: RACEC has established and built long term relationships with emerging contractors from previously disadvantaged backgrounds. This facilitates emerging contractors to be able to bid for larger contracts and ensures skills transfer. Many major contracts have been successfully completed to the benefit of RACEC, it’s BEE Partners and Clients
BBBEE
The RACEC Group is committed to the principles of broad-based black economic empowerment (BBBEE) and has made it part of our business imperative.
Solethu Civils Holdings (Pty) Ltd
Apart from the many individual BEE Shareholders, Solethu Civils Holdings (Pty) Ltd a black owned and controlled company which is strategically placed in the rail logistics industry has purcashed a 25% stake in RACEC Group Limited.
RACEC Employee Trust
In 2004, the RACEC Employee Trust was established with ownership offered to all our staff. This has proved to be a resounding success not only as a staff motivator but as a means of providing true empowerment for our staff. The RACEC Employee Trust has a 3.9% equity stake in RACEC Group Limited.
All subsidairy operations of RACEC Group have in excess of a 35% BEE Equity Holding.