BBBEE Grading

Level 3 Contractor

Power Construction achieved a Broad Based Black Economic Empowerment Level 3 Contributor status for 2010.

Power Construction received its first BEE accreditation certificate in December 2008 when it achieved a Level 5 Contributor status. In December 2009, the company was awarded with a level 3 status. The company has had a long history of empowerment, long before it was enforced by government. Sibakhulu and Nikamandla Construction and Khayalethu Projects are examples of the Power Group’s initiatives.

One of the most visible demonstrations of the Power Group’s commitment to the upliftment and bettering of the lives of people has been the co-ownership offer extended in 2007 to all its employees with five year’s service or longer.

The deal means that every permanent staff member who has been with the Group for longer than five years can now have a direct share in the profits each year.

Ownership now resides with three shareholders: Power Group Holdings, with 70% interest; the Power Group Employee Trust, with 20% interest; and the Power Group Investment Trust, with 10% interest.
Through the trusts, the unitholding employees hold the same share of ownership in both Power Construction and Power Developments.

At all times, at least 20% of shareholding of both companies through the Investment Trust and the Employee Trust will be in black hands.

True to the spirit of loyalty that thrives amongst Power management and employees, this is a BBBEE deal that is serving to empower people from within the Group; it rewards those who have helped to build the Group, and will continue to reward generations of employees as they move through the ranks.