Empowerment
Previously Disadvantaged Economic Empowerment
Rial Fishing is classified as an entirely Previously Disadvantaged-Owned Company* and therefore has long supported the philosophy of previously disadvantaged economic empowerment and BBEE policies.
Rial fishing is committed to becoming a model company in terms of:
- Business interest;
- As an employer and
- As a social investor in community development and poverty alleviation.
Broad-Based Black Economic Empowerment: BBBEE Policies
The entire executive management of Rial Fishing is comprised of previously disadvantaged men and previously disadvantaged women. Furthermore, in all the employment equity occupation levels, the numbers of our previously disadvantaged employees exceeds 98%.
Therefore, with the intention of becoming a model company, Rial Fishing has fully integrated and implemented Broad-Based Economic Empowerment (BBEE) policies and practices into the business strategy.
In order to manage the implementation and maintenance of BBEE policies effectively, we have established a new system of record keeping with the sole purpose of recording and reporting on the various BBEE initiatives.
At Rial Fishing we wish to demonstrate a working model of how BBEE policies can uplift communities both economically and socially.
Tertiary Education
Rial Fishing has empowered and educated many of our previously disadvantaged staff through providing bursaries for tertiary education as well as training & development.
More than 80% of operating expenditure is directly from empowerment of the previously disadvantaged and previously disadvantaged-owned companies.
Financial Initiatives
Rial Fishing has invested significant finances as well as other valuable resources such as time and energy in developing the entire Eastern Cape fishing industry. This includes providing finances, equipment and advisory support to many of the smaller fishing companies and traditional line fishermen in the Eastern Cape.
Social investment has always been a high priority for Rial Fishing. As such, the company has made significant donations to various community organisations since inception.
Rial Fishing is involved in various projects, including:
- Poverty alleviation through contributions to feeding schemes as well as
- Developing value added initiatives by making processed fish products available at bulk rates to hawkers who sell fish in the townships.
Rial Fishing remains committed to enter, invest and reinvest in the fishing industry with the intention of fully participating in the risk of running a fishing operation. This includes utilising the available fishing rights to create investment which results in successes and achievements. We strive for these goals in order to continue to support the economy and the South African people.