The group observes and proactively aligns day-to-day business practices in South Africa with the broad-based black economic empowerment (B-BBEE) codes. Commitment to the principles of B-BBEE, to make it real and tangible for the group and its employees, is a key priority.
In accordance with its strategic transformation objectives, Steinhoff International Holdings N.V., KAP’s majority shareholder, has recognised the importance of affording its South African employees an opportunity to participate in the success of its businesses.
Approximately 12 000 KAP Industrial employees participate at various levels in the Steinhoff International share ownership scheme, and collectively hold more than 40 million Steinhoff shares with the associated funding.
During the financial year a dividend of R15 million was declared to scheme participants.