bp has over 500 branded service stations across South Africa and a 50% share in SAPREF, the largest refinery in Southern Africa, just outside Durban. bp has a national network of 75 depots and distribution points, including three coastal installations and the largest rail gantry in Africa located in Pretoria.
In the next five years, we intend to invest R10 billion. Retail turnaround story, investment in network expansion, conversion of Pick n Pays, SAPREF for clean fuels, logistics.
bp’s transformation journey has focussed on four key areas:
In 2001, bp Southern Africa was one of the first companies in the petroleum industry to conclude a Broad-Based Black Economic Empowerment (B-BBEE) transaction with Mineworkers Investment Company (MIC) and Women’s Development Bank (WDB). bp Southern Africa is in the second wave of transformation, having concluded a second major B-BBEE transaction in 2014 with Kapela and bp Southern Africa Education Foundation Trust. This transaction allowed the previous B-BBEE partners (MIC & WDB) to monetise their investment in bp Southern Africa.
bp Southern Africa is 25% +1 Black Owned where BP (plc) owns 75%-1 and Kapela 20%+1 share and BPSA Education Foundation Trust 5%. Kapela is a consortium that includes the Disability Empowerment Concerns Trust (DAC). DAC is a broad-based trust with over 2 million people with disabilities as beneficiaries of which 85% are Black and 50% are Women as well as a majority-owned and managed equity firm.
bp Southern Africa has achieved B-BBEE Level 2 for 3 consecutive years since the promulgation of the B-BBEE Codes of Good Practice, in May 2015.
As bp Southern Africa we believe in meaningful and sustainable transformation. In this regard, we have partnered with the National Empowerment Fund (NEF) where we provide grants and loans to B-BBEE entities. We have funded, through a combination of interest-free loans & grants, and created access to the market for B-BBEE logistics companies and they are part of the bp Southern Africa Road Logistics supply chain. To ensure they are sustainable, they were also awarded 3-year contracts to supply and deliver fuel from our depots to different sites.
As bp Southern Africa we believe that dealership transformation is a business imperative for sustainable operation. As part of our Retail transformation agenda, we have partnered with the NEF and established an Enterprise Development (ED) Fund.
The ED Fund is used to fund B-BBEE dealers with a specific emphasis on Black Women. One of the advantages of the partnership is that the beneficiaries are provided with post-investment support, mentoring and coaching on business development which then improves their chances of success. To date, we have assisted a number of dealers with finance.
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