Felix Ratheb | Sea Harvest’s Employee Share Scheme for Staff Members : Sea Harvest

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Date Posted: 23 March 2017

Felix Ratheb

Sea Harvest’s Employee Share Scheme for Staff Members 

Our corporation, which happens to be one of the largest black-owned and managed fishing companies in South Africa, is running an innovative Employee Share Scheme. It is a share scheme created to promote empowerment and wealth sharing for employees and serves as a token of appreciation for their service to Sea Harvest, and the fishing industry at large.

We are issuing 4 258 238 shares, which equates to employee ownership of approximately 5% of the total shares. It is an exciting new venture honouring loyalty and commitment of our approximately 2 000 Sea Harvest employees, without whom our massive success wouldn’t have been possible. It is a venture that is fully supported by management, including Felix Ratheb, our CEO.

As a subsidiary of Brimstone Investment Corporation Limited, we’ve grown into one of the most transformed companies in the fishing industry, with a Level 2 B-BBEE accreditation, and over 80% black shareholding. "In celebrating 20 years of existence, Brimstone has endeavoured to assist in the growth and development of all its subsidiaries, and this share scheme does exactly that," said Sea Harvest Executive Chairman, Fred Robertson.

A History Dating Back to 1964

We were established in 1964 in the fishing village of Saldanha Bay, and have grown to become the largest employer and driver of economic activity on the West Coast. Central to our business principles are the people of Saldanha Bay. Felix Ratheb is on record stating our pride in our employees, and the importance of how the company’s success positively impacts our employees, their families and the surrounding communities.

As a company, we depend on government-allocated fishing rights to protect the jobs of our more than 2 400 employees and to create further employment on the West Coast. We remain committed to improving the lives of local communities through our various capital and social investments. However, this employment share scheme remains our largest commitment to the people of this region, to date. At least 5 000 direct and indirect employees stand to benefit when their shares vest in 2022.

Thriving on an International Stage

Even though fishing remains difficult due to the variability of nature, we are incredibly thankful to thrive in a highly competitive international environment, where economies of scale are crucial for survival. According to Felix Ratheb, Sea Harvest is embarking on this new journey of sharing and opportunity, and we all look forward to going from strength to strength in the future.

Our principle business remains the fishing of Cape hake and Shark Bay prawns, and processing the catch into frozen and chilled seafood. With a strong team of thousands of professionals at our back, we continue to chart new courses in exciting waters, as we further expand our footprint to new international markets. We look forward to taking our business into the future and rewarding our loyal workforce for their contribution to our continued success.

The Sea Harvest fresh fish processing plants in Saldanha Bay and Mossel Bay are built on deep-water quays. This enables our trawlers to tie up alongside and speedily offload into the factory, which is part of our production line. Again, none of this would be possible without the backing of our loyal and expert workforce.

Driving Sea Harvest Forward with Dynamic Leadership

Our trusted CEO has been key in implementing various strategies since 2013. He brings more than 15 years of experience in the fishing and FMCG industries, and his fresh vision is just what is needed to take us into the next phase of our growth. Felix Ratheb is also on the Executive Board and a Board Member of the Groundfish Forum, which is the largest whitefish conference globally. This helps him to keep his finger on the pulse of the international industry.

As our global operations are expected to expand even further during the rest of 2017 and beyond, we see no end in sight for our global ambitions as a leader in the seafood industry. We remain positive and excited about the future, and will continue to look forward to new ways in which we can reward our employees and their communities for the hard work and commitment they put into helping us achieve our goals.

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