Since the inception of SAB’s KickStart Entrepreneurial Development Programme in 1995 it has enabled the establishment of around 3 200 small businesses.
SAB Foundation
Setting new standards in societal leadership
The newly created SAB Foundation holds 18% of the shares issued under the transaction and owns 1.54% of SAB. Dividends, which will be paid out bi-annually for ten years, will benefit the wider South African community through the Foundation. It is envisaged The SAB Foundation will retain into perpetuity the SABMiller shares issued to it at the end of the 10-year period of the transaction, continuing its existence indefinitely—becoming an evergreen contributor to community development. Aligning with the spirit of Zenzele, meaning ‘do it (for) yourself’, the foundation will focus on developing entrepreneurship, engaging in community initiatives that provide benefits to historically disadvantaged South Africans—with a priority on women, the youth, and persons with disabilities, particularly in rural areas. Through the Board of Trustees and an independent chairman, The SAB Foundation will aim to distribute the benefits of the transaction to a wide group of beneficiaries, while overseeing the creation and maintenance of a sizeable, visible and sustainable fund. Cyril Ramaphosa, well-known South African businessman, has been appointed as Chairman. External trustees are William Rowland, Honorary President of both the World Blind Union and of Disabled People of SA, and Polo Radebe, CEO of the Identity Development Fund. SAB trustees are Norman Adami (Chairman and Managing Director), Vincent Maphai (Corporate Affairs and Transformation Director), and Hepsy Mkhungo (Head of Department: Transformation, CSI and Enterprise Development).
