LAST week a landmark broad-based black economic empowerment transaction was concluded in the Eastern Cape that significantly improves the participation of black women-owned businesses in the energy sector.
A liquid bulk fuel terminal operated by BP Southern Africa in East London has been sold to Wasaa, an independent petrochemicals company. Wasaa has acquired all the terminal’s moveable assets and a 20 per cent share in berth-to-terminal pipelines.
With the 2020 report by the Broad-Based Black Economic Empowerment Commission showing that most economic sectors are falling short of their black women ownership targets, this acquisition by a black and female-owned company of a liquid fuel terminal is a historic development.
It contributes to our national effort to redress inequality and ensure there is meaningful participation by the country’s majority in our economy.
This week, I am announcing the appointment of the new Broad-Based Black Economic Empowerment Advisory Council. This council, which
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