Rural women get a stake in Sasol Mining

Xolile Bhengu

Xolile Bhengu

A black-women-owned investment and operating company has given rural women an opportunity to own a stake in Sasol Mining.

Wiphold said the opportunity had been made possible through its newly formed Mining Women Investment Trust as part of its Wipcoal Investments arm that owns 20percent of Sasol Mining.

It said the trust encourages the participation of women from rural and peri-urban areas in the male-dominated mining sector.

On Saturday the company held a workshop in Secunda to educate 1005 women, who had registered to be part of the trust.

Wiphold chief executive Louisa Mojela said the workshop was a follow-up of last year's R1,9billion transaction between Wiphold, which has a 60percent share in Wipcoal, and Mining Women Investments, which owns 40 percent of the coal company.

She said Wipcoal had a 51percent stake in Ixia Coal in which the 20percent share -holding was held.

Mojela said: "We are extending the empowerment of women to participate meaningfully in mining as a 40percent shareholder.

"The mining industry is still a heavily male-dominated sector and mining skills from women are still scarce."

"Wiphold has provided the R8million to finance the trusts equity share-holding in Sasol Mining.

"We realised that registered women might have an interest, but would not be able to come up with funds on their own." she said.

"If and when Sasol Mining declares a dividend, some of the proceeds will start paying back the debt, and the women in the trust will also receive distributable dividend proceeds."

The company said the trust represented women consortiums from Limpopo, Mpumalanga and the Free State.