As a company headquartered in South Africa, with significant assets and people, transformation is an important component of our reputation and licence to trade. We recognise that transformation is not just a moral imperative, but a pragmatic growth strategy that aims to realise the country’s full economic potential while helping to bring the black majority into the economic mainstream. Our focus, in terms of BBBEE, is to make a meaningful difference.
In FY2016 we achieved a Level 3 contributor status (based on the old codes as the new Forestry Sector Charter still has to be gazetted). Our target, which we report against annually, is to achieve Level 4 compliance in BBBEE in respect of the new Forestry Codes.
In 2010, Sappi implemented a broad-based empowerment share ownership scheme (24.3 million shares). Today, 45.66% of our Southern African business is owned by black people.