Our key tool for development is the empowerment of our people and the community

 

Oceana - Empowering people

Why this is important

Empowering our people means providing job security, satisfaction, recognition and opportunities for skills and career development; it is also about enabling our employees to grow with the company and share the value created through their hard work. One of our most meaningful initiatives for delivering genuine social value from our fishing activities is the Oceana Empowerment Trust (the Trust).

Material issues

  • Fair distribution of value derived from fishing rights
  • Driving transformation and localisation in our operations and supply chain
  • Employee health and wellness
  • Training and skills development
  • Fair and consistent labour practices

Headlines

  1. 2 483 employee beneficiaries received R292 million through Oceana Empowerment Trust in 2014
  2. 3 867 direct jobs in South Africa and 434 direct jobs in Namibia
  3. R1.2 billion paid in salaries and R103 million in employee benefits
  4. R21.9 million invested in employee skills development in South Africa and Namibia
  5. 146.8% of total measured spend spent on B-BBEE suppliers
  6. Achieved independently accredited level 1 B-BBEE status

Focus areas

  1. Being a leader in terms of our transformation and localisation credentials
  2. Promoting diversity within our managerial ranks and the representation of designated groups
  3. Contributing to the development and empowerment of small enterprises and our communities

Oceana - Centenary Book

OCEANA EMPOWERMENT TRUST PORTAL

OCEANA EMPOWERMENT TRUST MAGAZINE

Fair distribution of value derived from fishing rights

This year we achieved a milestone in Oceana’s empowerment efforts, with our employee share ownership scheme, distributing R292 million to 2 483 employee beneficiaries. The Oceana Empowerment Trust, established in 2006 to advance the group’s transformation strategy, has 2 483 black beneficiaries holding almost 13,6 million shares in Oceana through the Trust as at 30 September 2017, representing 10% of the group’s total issued shares. This year, beneficiaries received a monetary pay-out of R5,9 million. This allows real broad-based empowerment to be delivered not only directly to our employees, but also to the communities in which they live, and in which we operate.

At Oceana, our focus on empowerment is both strategic and operational. It is part of how we do business at all levels throughout the company.

Our continued focus on driving transformation on all elements of the B-BBEE scorecard has resulted in Oceana achieving a level 1 rating, in terms of the Revised Codes of Good Practice, with a score of 106.34 points out of 109 (2020: 108.03). We also have a recognition rating of 135% for procurement in terms of the Department of Trade, Industry and Competition’s (dtic’s) B-BBEE scorecard. A summary of our performance against each of the five elements of the scorecard is provided below.

Our B-BBEE performance

Oceana’s B-BBEE performance as measured against the five elements of the dtic B-BBEE scorecard showed a maintained score on our black-owned and black-controlled shareholding. Our three major empowerment shareholders are Brimstone Investment Corporation, Saam Sonke Trust and Tiger Brands Foundation Our performance on this score exceeds the dtic target for black ownership by 25,0%. Management control in the executive committee and black representation increased.

Ownership

We have maintained our black-owned and black-controlled shareholding. Our three major empowerment shareholders that contributed to this are Brimstone Investment Corporation, Saam Sonke Trust and Tiger Brands Foundation, with a combined black ownership holding of 81.82%. We achieved the full 25 points for this element.

Management control

We achieved maximum points at both black board member and black executive director levels. Black people now represent 64.71% of board and executive management. We have aligned our employment equity plans with the Department of Employment & Labour to the B-BBEE Code’s requirements to ensure continuous alignment with our transformation objectives. We continue to make progress in transforming our senior, middle and junior managerial ranks. We achieved 15.61 points out of a possible 19 points for this element.

Skills development

We have continued to invest in developing our employees against the backdrop of the scarcity of skills in our sector. Recognised training expenditure on all black employees in 2021 was R50,1 million. The employment equity scorecard and skills development targets are based on racial demographics of the economically active population. We also support youth development through our learnerships for unemployed youth. In 2021 we placed 88 unemployed learners between the ages of 18 to 35 on our unemployment learnerships, apprenticeships and internship programmes. We achieved 16.16 points out of a possible 25 points for this element.

Enterprise and supplier development

The Revised Codes of Good Practice combined the prior elements of “Preferential Procurement” and “Enterprise Development” into the Enterprise and Supplier Development element. We recognise that ensuring that goods and services are procured from suppliers that meet B-BBEE requirements will ultimately result in greater participation of black people in the economy. Our focus on maximising purchases from B-BBEE compliant companies, exempted micro-enterprises (EMEs), qualifying small enterprises (QSEs), black-owned and black-women-owned companies, has resulted in 109.87% of our total measured spend being procured from B-BBEE enterprises, exceeding the dtic’s target of 80%. Supplier development initiatives included loans and advances, preferential payment terms, and administrative support. Our main contribution to enterprise and supplier development continues to be through joint ventures with other smaller fishing companies and supply arrangements. Qualifying expenditure of R 45.5 million was spent on Supplier Development and 5.4 million was spent on Enterprise Development We achieved 44.57 points out of a possible 46 points for this element.