South Africa's Black Economic Empowerment program may be considered problematic for some businesses, but Oceana Group is taking strides in ticking all the right boxes.
Oceana will pay out ZAR 289 million (€19.8 million/$27 million) to employee beneficiaries of the Oceana Empowerment Trust -- an employee share ownership scheme -- as value created through fishing rights is unlocked.
Oceana set up the Oceana Empowerment Trust in 2006. It was intended to operate for the benefit of black employees [all non-white employees], who are South African citizens and who are permanently employed or employed as permanent seasonals within Oceana.
