• TRANSFORMATION

INDUSTRY AND ENTERPRISE DEVELOPMENT

ENTERPRISE DEVELOPMENT

Whilst the Group is in the business of generating profits and creating wealth for our shareholders, it is committed to helping address the challenges facing South Africa through enterprise development, skills development, socio-economic development and the other pillars that constitute transformation.

Twenty years ago, Sea Harvest was instrumental in the creation of the West Coast Business Development Centre that provides services and mentorship for Small-, Medium- and Micro-sized Enterprises (SMMEs). The Company’s procurement policies, meanwhile, have resulted in the Group spending c. R1.1 billion on procuring goods and services from majority black-owned businesses in 2019, while R492 million was spent procuring goods and services from 745 SMMEs, mainly in the rural communities in which we operate during the same year.

In 2018, Sea Harvest also co-founded a R100 million South African Fisheries Development Fund to support small, medium- and micro-enterprises in the small-scale fishing sector. Through the Fund we provide marketing assistance, vessels and assets, management expertise, training and mentoring, and processing of fish to promote enterprise development. The primary objective of the Fund is to transform the fishing industry from the ground up by assisting smaller quota holders and small-scale fishers in catching their quotas, processing their catch, and accessing markets. For more information on the Fund and its activities go to https://fisheriesfund.co.za/en/