firstrand
empowerment
foundation
FREF was established as a vehicle through which the founder (FirstRand Limited), in partnership with its empowerment partners (Kagiso Charitable Trust, The WDB Trust, WDB Investment Holdings (Pty) Ltd, the Mineworkers Investment Trust and MIC Financial Holdings (Pty) Ltd) could aim to address inequality in society.
The B-BBEE transaction vested in 2014, following which FREF has a significant unencumbered endowment of FirstRand shares.
FREF’s objective is to reduce poverty and inequality by undertaking and/or supporting public benefit activities that result in B-BBEE. The majority of trustees are black persons as defined in the Financial Sector Charter.
Focus areas
FRF’s vision is to create a society where everyone has fair access to economic opportunities and can contribute to the overall growth of South Africa. The foundation works to enable communities to take part in the wider economy and has identified the strategic focus areas outlined below.
Agri system
Aims to transform and strengthen the agri-value chain and unlock the value of assets.
Climate change response
Aims to invest in climate action to reduce impacts on livelihoods.
Gender-based violence and femicide (GBVF)
Aims to address gaps in GBVF responses through prevention, rebuilding social cohesion, economic empowerment, research and information systems.
Healthcare value chain
Aims to provide support throughout the healthcare value chain to enable the participation of black people.
Quality education
Aims to improve the quality and availability of education and training for black South Africans, i.e. providing access to quality education, strengthening the capacity of higher education institutions and equipping unemployed youth with skills and income opportunities.
Trustees
Nolulamo Nobambiswano Gwagwa
Zwoitwaho Calvin Nevhutalu
Oren Fuchs
Sizwe Errol Nxasana
Elizabeth Maepa
Amanda Tandi Nzimande
Mary Vilakazi
Bongiwe Njobe