Free To Grow now a Black Owned Business
A black economic empowerment (B-BBEE) transaction has been concluded by Engagement & Culture consulting specialists Free To Grow South Africa (Pty) Ltd.
“Free To Grow is now a Black Owned company,” says Riegert Nortje, Managing Director.
Free To Grow’s transformation started in 2005 with the formation of a new company in which 40% (25.1% black and 14.9% white) of the shares were purchased by existing Free To Grow Licensees through which Free To Grow delivers its services.
“In 2017, we have further increased our Black Licensee shareholding to 51.32% with a Black Female shareholding of 32.45%.
“We have spent a lot of time and energy exploring and developing a deal that will benefit all of our people, the business as a whole and at the same time fulfils our values of integrity, nurturing, innovation, sustainability, sincerity and passion for quality,” says Nortje.
The new ownership structure is an added incentive for clients who wish to use the services Free To Grow provides.