Volkwagen trust invests R13.5m in truck dealership
Automotive company Volkswagen South Africa's (VWSA’s) Broad-Based Black Economic Empowerment (B-BBEE) Initiatives Trust has invested R13.5-million in black-woman-owned heavy-truck dealership GardenRouteMan (GRM) Auto as part of its efforts to transform the automotive supply chain.
GRM Auto currently owns three MAN truck dealerships in Gqeberha, East London and George. GRM Auto marks the trust’s first downstream investment in the automotive supply chain, says B-BBEE Initiatives Trust CEO Neeraj Kessery.
“The B-BBEE Initiatives Trust has optimised its internal processes to ensure it supports businesses with their requirements. The B-BBEE Initiatives Trust is proud to state that several of the companies funded by us are partially, if not fully, women-owned,” he adds.
“Transformation is an imperative for VWSA, and supporting businesses such as GRM Auto is a significant step in the right direction,” says VWSA corporate and government affairs director Nonkqubela Maliza.
“Through the B-BBEE Initiatives Trust, we are able to consistently work towards the goal of an inclusive automotive industry and play a part in alleviating the problem of unemployment in the Eastern Cape and the larger South Africa,” she adds.
GRM Auto majority shareholder Akhona Mosiane adds that the company is eager to participate in the trust’s other support programmes for beneficiaries to grow the business to its full potential.
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