Since its inception in 1987, Palace Group has been a 100% South African black owned group of companies. We have always recognised that the growth of the country’s economy largely depends on the extent of a meaningful participation of historically disenfranchised individuals in the economy.
We continue to aim to increase the participation of black individuals, especially women, and black owned companies as suppliers, employees and the communities with which we engage and do business. Palace Group’s empowerment focus is founded on the principles contained in the SA’s BBBEE Act of 2003 in areas of corporate social investment, employment equity, enterprise development, preferential procurement, skills development and equity ownership. Our focus is to improve our efforts to achieve good ratings across the entire spectrum of empowerment landscape.
At present, two of our subsidiary holding companies achieved a level three and four respectively in BBBEE rating for the past year in review.