Engen’s advances with social "empowerment" program
South Africa’s Engen says it has success with a social program aimed at increasing the number of black owned service stations.
South Africa’s Engen’s enterprise partnership with the National Empowerment Fund (NEF) continues to yield positive results as the company’s number of black-owned service stations has expanded, the company said recently in a press release.
“The Engen-NEF deal was signed in 2009 to provide affordable loans to black entrepreneurs, providing the necessary capital to purchase service stations,” said Tasneem Sulaiman-Bray, general manager of Engen Corporate Affairs. Since then, the company “attained 50% BBBEE ownership across our network of over 1 000 sites.”
