Accenture sells stake to BEE trust

September 15, 2005

Global management consulting, technology services and outsourcing group Accenture has changed the structure of its South African operations as a pledge of its commitment to the local community and its support of the South African government's Black Economic Empowerment (BEE) initiative. ..

To align itself with the Information & Communication Technology (ICT) Charter and the Department of Trade and Industry's Codes of Good Practice regarding BEE, Accenture has sold 30 percent of ordinary shares in its South African operations to a black-owned trust, a majority of whose trustees are black directors of Accenture. The trust, known as the "Akha Trust", combines the benefits of an owner-operator model with the advantages of broad-based BEE.

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