iMbokodo creates a positive impact in Oil & Gas

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iMbokodo, 1 March 2020 – iMbokodo, a recent female empowered entrant into the oil and gas industry has cemented its vision for supporting communities to develop their own Oil & Gas aspirations through the launching of a Non-profit Organization(NPO), with the singular aim of opening up access to microfinance in support of enterprise development amongst the historically disadvantaged.

In addition, the company has put aside 10% of its shareholding which is allocated to the local community in the form of a community trust that enables the development of their own investment vehicle in oil and gas and reaps the benefits for their communities through the Trust shareholding.

Executive Chairman, Sean Lunn said, “We at iMbokodo see ourselves as being part of the communities we work in, so it is critical that they also share the revenues of what is extracted from their land.” General Manager, Zakithi Zama, was pleased to have been integrally involved in the stakeholder process that resulted in this outcome and said, “This step fully aligns to our key focus and that of the development goals of South Africa.”