Singisi (J 14)

Name: Singisi


Singisi Forest Products empowerment progress


THE abovementioned matter refers. In 2001, the then Minister of Water Affairs and Forestry, Ronnie Kasrils, launched a forestry empowerment deal in the Eastern Cape, which saw the transfer of 60000ha of forest and a large sawmill to Singisi Forest Products. This was a joint venture between a large community trust and Hans Merensky Holdings with additional shareholding by employees.
This was a great milestone in the history of South African forestry, because it was the first time that black South Africans became shareholders in a forestry company.
In this deal, the Singalanga Trust, representing 163 communities, took ownership of 10percent of the shares and got representation on the board. In addition, ninepercent of the shares were set aside for the employees through an employee ownership scheme.

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