In August 2001, the Mineworkers’ Investment Company (MIC) and WDB Investment Holdings (Pty) Ltd (WDBIH) accepted an equity stake in bp’s South African operations, giving them an immediate three seats on the board of bp Southern Africa (Pty) Limited and 25% shareholder voting rights.
As part of the transaction, MIC and WDBIH will exclusively service bp’s existing and future commercial and industrial clients. A series of cross-postings will see MIC and WDBIH staff working for the joint venture and bp. The joint venture will eventually be majority owned and operated by empowerment partners.
bp set a new ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero. To deliver the ambition, we will fundamentally reorganize to become more focused, more integrated and to face the energy transition head-on.
bp Southern Africa believes in meaningful and sustainable transformation. Its transformation journey has focused on four key areas.
bp is committed to investing in the communities within which it operates and believes in enriching and impacting these communities meaningfully.