Socio-Economic Impact in Saldanha
Sea Harvest Remains a Key Contributor Towards Positive Socio-Economic Impact in Saldanha Bay
For more than half a century, we have worked hard to grow into the single largest employer in the Saldanha
Bay Municipality. Today, we are also one of the largest vertically integrated black-owned fishing companies in South Africa. A recent economic impact study, which was completed by the Independent Economic Researchers, revealed the key role that we continue to play in the livelihood of the Saldanha Bay Municipality, and its surrounding communities.
We are proud of our socio-economic impact in Saldanha Bay, with our business operations specifically being responsible for generating nearly 10% of the total employment in the Saldanha Bay region. As elsewhere in the country, job creation continues to fuel economic growth.
Employment created from our commercial activities includes direct and indirect employment of about 170 local suppliers and 15 local buyers, which amounts to approximately 4 000 jobs. This equates to approximately 10% of the total household incomes of Saldanha Bay Municipality.
A Catalyst for Job Creation and a Positive Socio-Economic Impact in Saldanha Bay
Our operation has been a catalyst for the creation of various other successful businesses, and this continues to be the case with roughly 75% of our company’s expenditure being with level 1 and 4 suppliers of the Saldanha Bay Municipality. R33 million of the income received by the municipality is due to our operations in the area.
We also remain committed to and have worked diligently towards demonstrating our dedication to empowerment. Our overall Broad-Based Black Economic Empowerment rating has increased from 78,8 in 2010, to 95,8 in 2015. Today, our current black ownership stands at 85%. According to a KPMG 2013 B-BBEE Survey Report, the average score for all other industries considered was 5, while the highest scoring industry was construction, with 79 points. Our points, by comparison, are significantly higher at a total of 97 points.
Demonstrated Commitment to Transformation
We are also proud of the fact that our employees have benefitted from our commitment to transformation. In 2015, employees became shareholders in the company for the second time in our company’s history. The Employee Share Trust issued 4,26 million shares, which resulted in employees owning about 5% of the total shares, with a combined value of R30 million at present.
This enables our employees to share in the value created through growth, and over 80% is held by employees in the Saldanha Bay Municipality. The commitment to empowering people through training and development has helped our company to increase its skills development and contributed significantly to creating over 12 000 training opportunities. Of the employees that were granted training and development opportunities over the past 5 years, 98% have been previously disadvantaged individuals, and over 60% have been female.
The Importance of Positive Socio-Economic Impact and Development in Saldanha Bay
As the single largest employer in the Saldanha Bay Municipality, we continue to take our social responsibility seriously. We recognise the importance of the socio-economic impact that our company has in Saldanha Bay, and our Sea Harvest Foundation continues to focus on key areas, including education, health, sports development, and community and business development.
With regards to health, we have been working in close tandem with the Department of Social Development for many, many years. Six social workers have been permanently based at the Sea Harvest Social Development Office on Saldanha’s Main Road since 2012, which is just a further illustration of our commitment to helping our communities to thrive.
Continuing the Development of Our People
Our operations have necessitated a substantial capital investment in the form of vessels, buildings, machinery and equipment over the years. Our fixed capital has a replacement value of R1,87 billion. However, to continue adding value for our employees, local communities, suppliers, consumers and customers, we recognise the importance of the government’s support. It is a critical aspect in the highly-regulated industry in which we operate.
Through our continued commitment to investing in our communities, we see a great working partnership with government, as we work together to help lift our communities up. To learn more about the positive impact of our commercial activities on the socio-economic aspects of Saldanha Bay, simply contact us today.