Cadiz continues to transform
Cadiz is committed to implementing a sustainable programme that
contributes to the economic and social development of South
Africa.
The group has an inclusive approach to black economic
empowerment (BEE) which is being addressed in terms of ownership
and control, employment equity, skills development, preferential
procurement and corporate social investment.
The business was awarded a AA-rating by Empowerdex, an independent
empowerment rating agency.
Makana Investment Corporation has a 15% stake in Cadiz
Broad-based empowerment group Makana Investment Corporation
(MIC) acquired a 10% strategic equity stake in Cadiz in April 2004.
Makana is a unique and broad-based empowerment group which has its
roots in the emergence of the South Africa of today and is
controlled by the Makana Trust.
The Makana Trust was initiated by former President Nelson
Mandela on 11 February 1995 - the fifth anniversary of his release
from prison - to address the economic plight of ex-political
prisoners. Peter-Paul Ngwenya of Makana is non-executive Chairman
of Cadiz, with Sfiso Buthelezi as an alternate director. A mutually
beneficial relationship has been forged between the two
parties.
MIC increased its effective shareholding in the company to 15%
following the acquisition of a further 5% stake in 2010.
The Cadiz BEE Trust aims to attract black staff
10% of the share capital is assigned to the Trust.