Tsogo Sun gets Level 1 B-BBEE status
Pretoria - Chairperson of the Tourism B-BBEE Charter Council, Dr Vuyo Mahlati, has congratulated Tsogo Sun on attaining the status of a Level 1 B-BBEE contributor.
Dr Mahlati said Tsogo Sun is a shining example of what can be achieved when businesses are committed to empowerment and commercial success.
“We congratulate the group on this outstanding achievement. You have put transformation policy into action, and you are an inspiration for others who want to follow the path you have embarked on. We believe this status will help Tsogo Sun to broaden empowerment and contribute to a more inclusive economy,” said Dr Mahlati.
Tsogo Sun’s most recent empowerment certificate indicates that the group has achieved 62.1% black ownership and 34.4% black women ownership.
Empowerment criteria, which are assessed for the certificate, include ownership, management control, skills development, enterprise and supplier development, and socio-economic development.
Tsogo Sun is listed on the Johannesburg Stock Exchange. The group includes 14 casino and entertainment centres, and over 100 hotels in South Africa, Africa, the Seychelles and the Middle East.
The portfolio includes theatres, cinemas, over 300 restaurants and bars and over 250 conference facilities, including the Sandton Convention Centre in Johannesburg.
Tourism Minister Tokozile Xasa also congratulated Tsogo Sun for their empowerment efforts and wished Tsogo Sun every success in the future as it continues to offer great experiences to tourists, creates value for its shareholders, and contributes to the transformation of the tourism sector and the South African economy.
“We are determined to implement economic transformation throughout the tourism value chain, and we will succeed as more and more businesses drive transformation in their operations, as Tsogo Sun has done,” said Minister Xasa. – SAnews.gov.za