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Home » Industry News » Agriculture » Empowerment accolade awarded to the Oceana Group

Empowerment accolade awarded to the Oceana Group

For a South African company focussed on real and thorough transformation, there can be no greater recognition and reward than leading the list of the top 100 empowered JSE-listed companies in the Independents 100 Most Empowered Companies ranking.

The Oceana Group has retained the status it achieved in 2014 when it was recognised as the Most Empowered JSE listed company at a business dinner held on Thursday 27 August 2015.  The research on empowered companies which underpinned the awards was undertaken by Empowerdex, a leading empowerment rating agency and the report was produced by Intellidex, a capital markets and financial services research house.

The survey is aimed at raising awareness in society of Broad-Based Black Economic Empowerment (B-BBEE) in South Africa. It is revealing about the massive strides the Oceana Group has taken since being ranked 70th in 2004 and 2nd in 2013 on the empowerment score card.

Oceana is at the forefront of real and effective transformation with a total B-BBEE score of 98.39 points in 2014 (2013: 95.17 points.)  The company’s score improved due to tangible improvements in management control, skills development, preferential procurement and employment equity. It retained maximum points   for ownership, enterprise development and socio economic development. For the first time, in the 2015 assessment the company scored maximum points in all scorecard elements save for employment equity. Oceana also came first among its peers in the Food and Beverage sector.

“Where others saw potential for fishing rights, we saw potential for converting our fishing rights into human rights,” said Francois Kuttel, CEO of the Oceana Group. “We are not just paying lip service to transformation, as evidenced again last month when the seventh Oceana Empowerment Trust Distribution was paid out and a total of R7.5m was shared out amongst 2,555 qualifying employee beneficiaries. We truly are sharing the value the Oceana Group is creating and view this as what our country needs for socio-economic stability and the long-term sustainability of our business.”

“Maintaining our status as a black owned and controlled fishing company and ensuring that we retain our credible empowerment credentials will assist with the retention of our commercial fishing rights. This in turn will enable Oceana to remain Africa’s most efficient convertor of global fishing rights into shared value. We are proud that we have turned our fishing rights into human rights through empowering our workers and supporting communities in which we operate” he concluded.

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