The Aveng Community Investment Trust plays a pivotal role in helping to deliver on Aveng’s overall socio-economic development mandate.
The Aveng Group commits a minimum 1% of NPAT to the Aveng Community Investment Trust and flagship projects are crafted in line with Aveng’s core competencies and South Africa’s socio-economic priorities.
In order to seek deepest impact with the funding available, the Aveng Community Investment Trust has carefully selected flagship projects that align with the business, demonstrate developmental best practice, and are scalable and sustainable. Projects have been purposefully situated within previously disadvantaged and impoverished areas.
Since its inception in 2005, The Aveng Community Investment Trust has focused on nurturing and building mathematics and science excellence among South African learners and developing a generation of skilled engineers, especially in view of the shortage of engineers in South African construction, manufacturing and mining. Through its projects, the Aveng Community Investment Trust has also supported artisan development training and the construction of African-inspired green building facilities for school and community use.
Our two flagship projects, the LEAP school in Diepsloot, Gauteng and the Kutlwanong maths and science centre in Jane Furse, Limpopo are exemplary educational initiatives, with consistently good results. Both centres continue to be benchmarks of excellence in their respective communities. In addition to these two flagship projects, Aveng is currently completing the building of a new school facility for LEAP in Diepsloot, together with several co-sponsors.
A total of R9.3m was committed to the two centres in 2019, and a further R7.7m donated to building a new school facility in Diepsloot.
In line with its long-term strategy, Aveng has announced that it will restructure the group and refocus its investment in two core assets during the course of 2019. In South Africa, Aveng’s core asset will be its mining business, Moolmans. Accordingly, the Aveng Community Investment Trust will reshape its CSI approach and orientation to focus on promoting employment creation in and advancing the socio-economic welfare of the mining communities in which Moolmans operates. This will be achieved through skills development, enterprise development and community development CSI programmes. These projects will be chosen in the context of extensive community consultation and involvement.
Governance of the Aveng Community Investment Trust
The Aveng Community Investment Trust is a registered public benefit company governed by a Board of Trustees. It subscribes to the King Report on Corporate Governance for South Africa (King IV) that recognises the role of companies in social transformation in South Africa. The Aveng Community Investment Trust is Aveng’s key implementing vehicle for socio-economic development, serving the broader group’s SED mandate.
The ultimate responsibility for the Aveng Community Investment Trust lies with the Social, Ethics and Transformation (SET) Committee, as a function of the Board, in line with King IV.
The overall strategy for the Aveng Community Investment Trust is set by the Trustees and approved by the SET Committee.
The operational and financial management of the Aveng Community Investment Trust is the responsibility of the Trust, as is the disbursement of funds as approved by the SET Committee. The Aveng Community Investment Trust works closely with the various operating groups, as well as the human resources, transformation and procurement departments to ensure synergistic SED activity.
The Chairperson of the Aveng Community Investment Trust is Michael Canterbury.
The Trustees are:
Michael Canterbury, Group Executive
Vincent Matlala, Moolmans
Rendani Rathando, Aveng Capital Partners