Phumelela: 8th most empowered company

Phumelela has been ranked the 8th most empowered company on the JSE according to the Black Economic Empowerment (BEE) index formulated by Empowerdex.

The most empowered company rankings set the bar for the rest of the economy by showcasing the companies that have gone furthest in transforming South Africa’s business environment.

Considering the top 100 companies are highlighted in these rankings, being placed in the top 10 is a major accolade for Phumelela.

The rankings were unveiled at the Empowerdex Business Report 100 Most Empowered Companies gathering held at The Maslow in Sandton, Johannesburg on Thursday, September 3.

Phumelela had the biggest rise in score and ranking of any of the top 10 rated companies. Their score rose from 86.12 in 2014 to 91.99 this year and their ranking rose from 20th to 8th.

Phumelela has set in place initiatives to improve the life outlook for many of the previously disadvantaged people in the industry.

One percent of all stakes money in the country, which amounts to R4 million, is now allocated to grooms. Furthermore, grooms have a growth opportunity through the Work Riders Programme, initiated by the Thoroughbred Horseracing Trust in Gauteng.

Additionally, grooms quarters at the horseracing facilities are provided and maintained at no cost to the grooms. Phumelela and Kenilworth Racing, managed by Phumelela, have upgraded grooms quarters at Randjiesfontein, the Vaal Racetrack, Turffontein Racetrack in the South, Milnerton and Philippi.

Phumelela has made available a portion of its land at Fairview Racecourse in the Eastern Cape as a donation to the grooms trust for the purpose of developing, in cooperation with the local municipality, fully serviced accommodation.

Recreational facilities such as soccer fields for use by grooms residing at training centres owned by Phumelela and Kenilworth have been installed and in association with the Racing Association an annual grooms soccer tournament is organised which includes the provision of equipment.

On the jockey front transformation has been extremely successful and last season South Africa had its first black champion jockey, S’Manga Khumalo, who is based at Turffontein Racecourse. Another black jockey Muzi Yeni features regularly in the top 10 on the national jockey’s log and there are many other sought after jockeys who come from previously disadvantaged backgrounds.

The Thoroughbred Horseracing Trust contributes R1 million to the running of SAJA and the Gauteng Jockey’s Academies. The latter has been very successful in advancing the skills of apprentices who began their learning at SAJA.

The Trust has funded the training of eight matriculants selected in 2008 from Orange Farm to become farriers. Six successfully passed their exams and have continued their development through the funding of the Trust.