Kagiso Trust welcomes the Practice Note gazetted by the Minister of Trade, Industry and Competition Ebrahim Patel, on May 18 with regards to the Broad-Based Black Economic Empowerment status of non-profit development agencies and the vital role they play in eradicating poverty and creating economic opportunities in South Africa.
The Trust has remained steadfast in its belief and strategy that through participating in broad-based black economic empowerment investments, which enable it to be a self-funded development agency, it can fund sustainable programmes. Kagiso Trust’s investment arm has enabled it to invest over R2-billion in development and implement over 1 800 programmes.
“We thank the Minister for understanding that organisations such as ourselves are an important and critical partner, along with government, private sector and society, in eradicating poverty,” said Reverend Frank Chikane, former Chairperson and a Trustee of the Trust. “For many years, Kagiso Trust has been resolute in our drive to overcome poverty through quality education for all and economic transformation. It is for this reason that we have deliberately chosen to work with the government, and in rural, under-resourced communities.”
The clarification by Patel will ensure the Trust can enter sustainable partnerships that will help the poorest of the poor. “This will allow us to focus our resources, on the future of all our stakeholders, from our learners to our communities,” says Kagiso Trust’s Chairperson Mankone Ntsaba. “The needs remain great in this uncertain time of the Covid-19 pandemic. This Practice Note by the Minister is vital to Kagiso Trust. It allows us to continue what we started over 35 years ago as a trusted partner in transformative development. This means a lot to Kagiso Trust, especially regarding the massive work we do in communities and for our beneficiaries.”