Kusasa Commodities 330 has embarked on an exciting journey in the transformation of our business. In order to advance economic transformation, and enhance the economic participation of the previously disadvantaged staff of the company, the Directors of GR Solutions, in conjunction with the staff of the company, decided to establish a Staff Trust for the previously disadvantaged staff members.
An ESOP (Employee Share Option Participation) trust called the Kusasa Commodities 330 (PTY) LTD Employee Trust was established in July 2018 with 100% Black beneficiaries. Currently 51% of the shareholding of Kusasa Commodities 330 has been sold to the Trust, making the company a Level 2 B-BBEE contributor. The transfer of ownership was completed on 28 February 2019.
The Trust has been established so that all of the previously disadvantaged members of the staff of the company participate in the distribution of the profits generated. All previously disadvantaged staff members are offered the opportunity to join the trust once they have been employees for 2 years. All beneficiaries of the trust are previously disadvantaged staff members whom have appointed 2 Trustees to represent the staff on the company board.
Furthermore, 51% of any dividend declared is distributed evenly to all the Trust’s beneficiaries. It is the vision of the Directors of the company that the dividends distributed allow the previously disadvantaged staff members to enhance their participation in the operation of the company and by extension in the country’s economy.