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Vodacom invests millions in empowerment drive

JOHANNESBURG – VODACOM has invested R405 million (US$26,27 million) in enterprise development this year.

In the past financial year, the company disclosed it invested over R199 million in community projects to transform the lives of black people through the Vodacom Foundation.

Vodacom revealed the figures as it announced achieving the highest score of Level 1 contributor towards Broad-Based Black Economic Empowerment (B-BBEE) for a fourth consecutive year.

“We are serious about the transformation agenda and the development of South Africa,” said Vodacom Group Chief Executive Officer, Shameel Joosub.

“We won’t be deterred in our resolve to play an active role in moving South Africa forward by driving meaningful and sustainable transformation programmes to afford historically disadvantage people the opportunity to participate in the mainstream economy,” Joosub said.

B-BBEE is a South African initiative aimed at attaining economic transformation for historically disadvantaged people.

– CAJ News

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