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SGS, the world’s leading inspection, verification, testing and certification company today announced the implementation of a Broad-Based Black Economic Empowerment Transaction (B-BBEE Transaction) through its subsidiary SGS South Africa Proprietary Limited. To carry out this transaction a broad-based trust called the SGS Group Community Trust has been created to act as the B-BBEE partner.

The beneficiaries of the trust include SGS South Africa employees, educational establishments and emerging entrepreneurs and/or suppliers, amongst others.

B-BBEE was initiated by the South African government in 2003 with a fundamental objective to advance economic transformation and enhance the economic participation of black people in the South African economy.

The objective of the B-BBEE Transaction for SGS is to:

  • Empower previously disadvantaged stakeholders with a focus on broad-based groupings
  • Create a sustainable funding structure, not reliant on external banking funds, share price appreciation or dividend payments
  • Materially improve SGS’ B-BBEE ownership credentials
  • Complement SGS’ existing B-BBEE initiatives
The successful conclusion of this B-BBEE Transaction confirms SGS’ commitment to broad-based empowerment in South Africa. SGS looks forward to delivering the benefits that will flow to the communities within which SGS operates and to the previously disadvantaged individuals with whom the Group interacts in the years to come. Frédéric Herren, Chief Operating Officer, Africa at SGS stated, “ We view this B-BBEE Transaction as a flagship empowerment initiative and we look forward to not only continuing with existing BBBEE projects, but also pursuing new empowerment initiatives that have been identified to make a real difference amongst people in need.

For more information, please contact:

Arun Desphpande
Managing Director
SGS South Africa (Pty)Ltd

t: +27 11 800 1000

About SGS

SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognised as the global benchmark for quality and integrity. With more than 80,000 employees, SGS operates a network of over 1,650 offices and laboratories around the world.