Explosives producer and blasting service provider, Enaex Africa (Pty) Ltd (“Enaex Africa”), announced on Friday, 18 June 2021 that Renaissance SA Rating (Pty) Ltd, a South African National Accreditation System (Sanas) accredited rating agency, has given it a Level 3 broad-based black economic empowerment (B-BBEE) certification. The rating is valid until 7 June 2022.
“Enaex Africa is committed to advancing transformation and economic growth in South Africa. Since the beginning of our operations, I have been extremely passionate about these socio-economic imperatives and our impressive Level 3 rating is but one important milestone in our journey, which includes a focus on youth and women empowerment programmes, upskilling initiatives, enterprise and supplier development and strengthening relationships with all our stakeholders,” stated Francisco Baudrand, Enaex Africa’s CEO.
As part of this journey, Enaex Africa is pleased to announce Africa Rising Explosives (Pty) Ltd (“Afris”) as their new B-BBEE partner. Afris is itself a Level 1 B-BBEE contributor and is a member of the Africa Rising Group of companies led by Dr Mandla Gantsho.
The Afris structure is truly broad-based and includes a trust set up for the benefit of new-entrants such as a rural community, primary and secondary school-going learners, women, the unemployed and disabled individuals. The founding members of Afris have a proven track record of ethical leadership, subject matter expertise, entrepreneurial orientation, and passionate execution. They have gained more than 60 years of combined experience in investment banking and development project finance across the African continent.
In addition to the expertise that Afris brings to Enaex Africa, there are strong synergies and a shared vision in respect to transformation and business growth.
The conclusion of the new B-BBEE partnership with Afris brings Enaex Africa’s shareholding to 51% held by Enaex S.A (Chile), 23% held by Sasol South Africa Limited and 26% held by Africa Rising Explosives.
“We are confident that Afris will add enormous value to our business going forward,” concluded Francisco Baudrand, Enaex Africa’s CEO.
Dr Mandla Gantsho, chairman of Africa Rising Explosives commented “We are excited at the opportunity to leverage our extensive business expertise and our deep insights from doing business in Africa, for the benefit of all stakeholders in Enaex”.