Tsogo Sun grows black ownership

THE Chairperson of the Tourism Broad Based Black Economic Empowerment (BBBEE) Charter Council, Dr Vuyo Mahlati, has congratulated Tsogo Sun on attaining the status of a Level 1 B-BBEE Contributor.

“Tsogo Sun is a shining example of what can be achieved when businesses are committed to empowerment and commercial success,” Mahlati said in a statement. He said the group had put transformation policy into action and was an inspiration for others to follow the path. The status, he said he believed, would help Tsogo Sun to broaden empowerment and contribute to a more inclusive economy.

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,” he said.

Tsogo Sun was listed on the Johannesburg Stock Exchange. The group includes 14 casinos and entertainment centres, and over 100 hotels in South Africa, Africa, the Seychelles and the Middle East, the Department of Tourism said. It said the portfolio included theatres, cinemas and over 300 restaurants and bars. Minister of Tourism Thoko Xasa also congratulated Tsogo Sun for their empowerment efforts.

“We wish 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,” she said.

“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.”

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