Streamworks embraces BEE

June 2004 News

Economic empowerment is an integral part of South Africa's transformation process, encouraging the redistribution of wealth and opportunities to previously disadvantaged communities and individuals and people with disabilities. The empowerment process has been identified as crucial to the future viability of the country's economy.

In line with a commitment to enhancing its empowerment strategy, Super Group is pleased to announce that an empowerment transaction is currently taking place with PEU Investment Group. PEU will acquire an equity holding of 25,1% in Super Group that is sure to result in strengthening Super Group's market position in its key business areas. A 25,1% shareholding by PEU in Super Group means that Super Group will become the leading black economic empowered company within the industries in which it operates.

This is good news for Streamworks clients who are faced with procurement challenges relating to dealing with suppliers who are required to be black economic empowered. Chairman of the ITC empowerment charter working group, Dali Mpofu, stated last week that between 30% and 60% of all procurement would have to be from black empowered businesses by 2009. Streamworks, in partnership with Super Group Supply Chain Management, is pleased to announce that it is part of a black economic empowered company and looks forward to new business opportunities that may arise through this.

For more information contact Shannon Heunis, Streamworks, 011 803 4376, [email protected], www.streamworks.co.za

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