Oceana maintains growth trajectory in tough year
cbn.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cbn.co.za Daily Mail and Mail on Sunday newspapers.
Oceana maintains growth trajectory in tough year
cbn.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cbn.co.za Daily Mail and Mail on Sunday newspapers.
This commitment is apparent in its investment into the Oceana Empowerment Trust (OET). Over 2400 previously disadvantaged South African beneficiaries hold 13,3 million shares in the Oceana Group through the Trust, translating into over 10% of the group’s total issued shares. This makes the OET the largest fishing entity in South Africa, with 100% black ownership with a market value of just under R1 billion.
This year, as the OET vests, its impact on the beneficiaries’ lives and their families and communities is astounding. OET chairperson Jayesh Jaga said: “The Trust was created as a platform for black beneficiaries to become financially empowered and active participants in South Africa’s formal economy. It is a legacy we’re proud of,” said Jaga.
Black employee beneficiaries of the Oceana Empowerment Trust want the fundâs trustees to be held accountable for fraud after they allegedly registered and transferred the employeeâs shares to themselves as the beneficial ownersâ of all employee beneficiary shares. Picture: Supplied
Oceana may face fraud charges as black employees cry foul
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Cape Town - Black employee beneficiaries of the Oceana Empowerment Trust say they are laying charges against the fundâs trustees after they allegedly registered and transferred the employeeâs shares to themselves as the âbeneficial ownersâ of all employee beneficiary shares.
In a letter to the fundâs executive, which Independent Media has seen, a beneficiary expressed her disgust about the treatment of black beneficiaries, questioning why changes were made without their consent and knowledge.