TRANSFORMATION
Transformation is a process initiated at the dawn of democracy in 1994 in South Africa to address the inequalities that resulted from the country’s past. As one of the largest black-owned companies in the South African fishing sector, one of the Group’s primary drivers is to continually improve on its transformation targets and, more importantly, to play an active role in empowering marginalised and disadvantaged groups and individuals. This is evidenced by the fact that Sea Harvest has moved from a Level 4 Broad-based Black Economic Empowerment (B-BBEE) company 10 years ago to a Level 1 company with a c.83% black ownership (up from 21% 15 years ago) and an overall B-BBEE score of 104.44 on the Department of Trade and Industry’s (DTI) generic B-BBEE scorecard.
The Group’s dedication to a holistic 20-year transformation journey culminated in Sea Harvest being named the Most Empowered fishing and food company on the Johannesburg Stock Exchange (JSE) in a special report about the empowerment credentials of JSE-listed companies, which was published by a South African media house in partnership with independent rating and research companies in November 2018.
INDUSTRY
Facilitating the transformation of the fishing industry has been an imperative for Sea Harvest since the advent of democracy in South Africa. In 1998, black-owned and managed Brimstone Investment Corporation (“Brimstone”) invested in Sea Harvest for the first time and eventually led a black consortium in buying out Tiger Brands’ majority shareholding in 2009. Brimstone gradually increased its shareholding to establish the 83% black-owned company that Sea Harvest is today. Other initiatives that have allowed Sea Harvest to boost transformation include the formation of Employee Share Trusts that allow employees to own a share in the company, thereby allowing the circle of benefit to include its staff. Sea Harvest has also made further strides in its transformation ambitions by implementing a Management Development Programme for high-performing employees from previously disadvantaged backgrounds.
During 2015, Sea Harvest entered into Catching and Processing joint venture with three smaller, black-owned businesses that hold long-term Deep-Sea Hake fishing rights, to assist them in catching and processing their allocated Cape Hake quota.
SMME DEVELOPMENT
In 2018, Sea Harvest co-founded a R100 million South African Fisheries Development Fund to support small, medium and micro enterprises (SMMEs) in the small-scale fishing sector. Through the Fund it provides 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/.
CORPORATE SOCIAL INVESTMENT
Investing in local communities through the Sea Harvest Foundation Not-for-Profit Company (NPC) is another way in which Sea Harvest tries to bring about social change. The Group believes that the quality of its stakeholder relationships can be attributed to a willingness to engage openly and honestly, as well as understand and respond to stakeholders’ expectations.
EDUCATION & YOUTH DEVELOPMENT
Empowering and supporting the youth in previously marginalised communities to become economically active and respectable members of society is a key focus of the Sea Harvest Foundation. It has invested circa (c.) R3.30 million between 2015 and 2019 in tertiary education bursaries, school sports equipment, a sponsorship to promote participation in surfing, and funding to encourage the youth’s involvement in music.
HEALTH
The Sea Harvest Foundation focuses on ensuring that Sea Harvest staff and local community members have access to basic health services. For the five years ending 2019, a total of c. R2,5 million has been donated to, inter alia, ensure the provision of social services to local communities in the Saldanha Bay municipal area; providing long-distance transport to medical facilities for Sea Harvest employees who live in rural areas on the Cape west coast; supporting the Red Cross Children’s Hospital Trust, and funding an annual two-week dental clinic operated by Dr Joseph Joshua.
COMMUNITY DEVELOPMENT
By supporting aspiring business owners, community-based sports clubs, feeding schemes, community-focused government programmes (example, World Food Day and World Fisheries Day), and other initiatives, the Sea Harvest Foundation has been able to drive social change at local community level. An amount of c. R1,4 million was invested between 2015 and 2019 to empower local communities. This amount excludes that spent on black-owned small-, medium- and macro-sized enterprises.
EARLY CHILDHOOD DEVELOPMENT
Sea Harvest believes that a human being’s holistic wellness is significantly influenced by the quality of he/her early childhood development (ECD). As a result, the Sea Harvest Foundation (NPC) invested c. R3,4 million in ECD in the five years ending December 2019.
OTHER DONATIONS
Aside from its key focus areas, Sea Harvest through the Foundation invests in many other diverse projects aimed at benefitting and supporting community initiatives that will contribute towards developing a sense of social pride or that address a serious need. In most cases, funding is allocated to the relevant organisations on an annual basis.
