Tsogo Sun ranked 3rd most empowered JSE-listed company

Cape Town - Tsogo Sun has been ranked third on the JSE Top 100 Most Empowered Companies for the second consecutive year.

Tsogo Sun’s majority shareholder, Hosken Consolidated Investments, was ranked the most empowered black-owned company in South Africa in 2017.

Tsogo Sun CEO Jacques Booysen said the company places immense value on sustainable empowerment across multi-faceted levels within the business for the structured growth and development of all stakeholders as well as the company.

Tsogo Sun is a Level 1 B-BBEE contributor with 135% B-BBEE procurement recognition, 62.10% effective black ownership and 34.44% effective black women ownership. The group’s performance was verified against the Tourism Sector Scorecard and saw Tsogo Sun receiving 101.52 out of total available points of 111.
 
“Hard work has been put in across the organisation over the last several years in order to ensure that we achieve results in accordance with our strategy,” Booysen added.

• READ: Why Cape Town appeals to local and intl tourists

Tsogo Sun’s empowerment strategy includes partnering with the National Business Initiative and Proudly SA; the Tsogo Sun Entrepreneurs programme; local procurement; employment equity; and skills development.

In the financial year ended 31 March 2017, the group added R8.5bn in value to BEE businesses and government, and invested R93m in value in support of emerging black owned small, medium and micro enterprises in South Africa.

In the same period, the group’s socio economic development initiatives reached 46 398 learners through education and job-readiness community programmes.

Regarding the group’s employees, 4.3% of payroll was spent on upskilling Tsogo Sun’s 12 800 direct employees and extended to unemployed people through the Tsogo Sun Academy.

Tsogo Sun’s portfolio includes over 100 hotels and 14 casino and entertainment destinations throughout South Africa, Africa, the Seychelles and Abu Dhabi.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter: Fin24’s top stories