Lonerock Construction has attained a Level 2 BBBEE Contributor status, with a 9 CE CIDB Grading. We comply with more than 75% of the prescriptions in South Africa’s Construction Charter.
We are exceeding our target of 27.5% black ownership; currently, black ownership of Lonerock stands at 30%, with our workers trust at 10% and individually owned shares at 20%. We also have black female representation of 40% on the company’s board and executive management.
In addition, we have set targets of 68% black representation in junior management, 45% in middle and 35% in senior management. All of these targets have been exceeded, with black people forming more than 80% of junior management.
More than 50% of our procurement spend is with BBBEE- compliant and black-owned companies. We also spend more than 3% of our annual net profit on the development of black-owned businesses and enterprise development. We spend a further 1% of net profits on social economic development.