Phumelela surges forward in transformation
Horseracing company Phumela continues to make progressive strides in transformation within the company.
JOHANNESBURG – Horseracing and tote betting company Phumelela is proud to announce that transformation is galloping ahead within the company and that it has accomplished level 2 contributor status towards broad-based black economic empowerment two years earlier than regulations require.
“It’s a mammoth achievement that is not only good for the company, but for South Africa and sport in general,” said Phumelela Group CEO Rian du Plessis. “It has been a team effort from the beginning and we will continue to build and mould our company to meet the needs of the new South Africa. We are particularly proud that we have accomplished level 2 status two years before the deadline set by regulators.”
A social and ethics committee oversees and drives transformation within Phumelela and has been particularly successfully in its target areas of employment equity and skills development. Phumelela is a JSE-listed company (56.86% B-BBEE owned), which is licensed to operate horse racing and tote betting in seven of South Africa’s nine provinces. Phumelela also manages horse racing and tote betting in the Western Cape on behalf of Kenilworth Racing.
