Black-owned Vuwa Investments Group, led by Basil Read Chairman Bulelani Ngcuka, has an historical relationship with a number of operations in the enlarged group and invested an additional R53 million during the capital raising in March 2008. Post the subscription for 133,3 million Buildmax shares by Brait in October 2008, the black shareholding in the group is approximately 15%.
Broad-based BEE in subsidiary companies satisfies Mining Charter requirements.
Skills, training and development
In response to the skills shortage in South Africa, Buildmax invests substantially in training. The group operates a full time training facility in Mpumalanga which primarily trains skilled operators for its Mining Services division.
The group further partners with an independent skills development organisation in Gauteng to provide unskilled individuals with the opportunity to gain recognised qualifications relevant to Buildmax’s operations.
