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Soul City Soul City Broad Based Empowerment Company
Home arrow What Is SCBBEC? Wednesday, 21 November 2018
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What is the SCBBEC? PDF Print E-mail

The Soul City Broad-Based Empowerment Company (SCBBEC) seeks to secure permanent funding for Soul City: Institute for Health and Development Communication (The Soul City Institute).

Our objective is to acquire an equity portfolio that will contribute to the long-term funding, and hence the sustainability, of the Soul City Institute.

In this way, we want to ensure that the Soul City Institute continues to reach more than three quarters of South Africa's population with information on public health and other social issues.

We do this by acquiring stakes in companies operating in South Africa as their broad-based empowerment shareholder (or as part of a group of such broad-based shareholders), and feed the returns on these investments back to the Soul City Institute.

SCBBEC does have a small amount of investible capital, and is thus able to contribute a modest amount of equity to the transactions in which it is participates.  It does, however, generally require some financing either from the company in which the shareholding is being acquired (the 'vendor'), or from a third party financier (such as a bank), or from a combination of both.

SCBBEC is officially accredited as a Level 1 B-BBEE contributor, is a 50% black women owned entity and provides enhanced preferential procurement recognition as a value-adding enterprise.

 

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