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ADDRESSING B-BBEE OWNERSHIP: THE TSiBA EDUCATION TRUST
The TSiBA Education Trust was created with the primary objective of building an endowment to secure the long term financial sustainability of TSiBA Education NPC and its beneficiaries.
To achieve this goal, the Trust is focused on establishing a select number of mutually beneficial strategic partnerships with both enterprises and individuals alike. It achieves this by positioning itself as a Broad-Based BEE Partner of choice for companies seeking empowerment partners in accordance with the Broad Based Economic Empowerment Act, no 53 of 2003 or the revised 2013 Codes of Good Practice.
The named beneficiary of the Trust is TSiBA Education NPC, an association incorporated under section 21 of the Company’s Act (Reg. no 2004/005126/08). The Deed of Trust stipulates that all economic benefit derived in the entity shall be utilised solely for the benefit of the black students of the school, pursuant to the Codes on BBBEE. Accordingly, the Trust qualifies as a ‘black entity’ in terms of the Codes.