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Sasol demonstrates its commitment to growing the SMME sector at the 8th Annual Proudly SA Buy Local Summit and Expo

Date: 
12 March 2019

Johannesburg, South Africa – Sasol’s commitment to growing the country’s SMME sector will be in full display this week at the 8th Annual Proudly SA Buy Local Summit and Expo taking place in Sandton where the company is showcasing 10 SMEs it is supporting, providing them with the platform to promote their businesses. Among these is DM Minerals Group Pty Ltd (DM Minerals), founded by its Group CEO Doctor Motswadire in 2015.  

DM Minerals received loan funding from the Sasol Siyakha Trust to purchase equipment to enable it to meet its contractual obligations to Sasol. This not only grew the business but also added to company’s asset register and turnover. Today, DM Minerals is an integrated mining and mineral processing services partner to Sasol and has grown its personnel from only two people in 2015 to 50 permanent employees and 16 subcontractors. 

“Contributing to the local economic development and job creation in our communities and the country at large is of utmost importance to our company,” said Lebelo Lukhele, Sasol Vice President: Supplier Management and Transformation. “Our preferential procurement spend from black-owned entities has materially increased in the previous financial year from R7.4 billion to R12.7 billion. All indications are that we will once again improve on this performance in the FY19 financial year.” 

The Sasol Siyakha Trust loan book has also increased from R231,6 million to R301, 7 million in FY18 with over 14 SMMEs being recipients of this fund. In addition to it, Sasol also has the Sasol Business Incubator in Sasolburg, which it constructed in partnership with the Department of Trade and Industry. The purpose of the facility is to provide SMMEs with technical support in the form of access to essential infrastructure such as office space and equipment for 12 months, and virtual incubation support by Sasol’s business incubation specialists for up to 24 months. 

“Sasol is excited to be to be a part of this journey with Proudly SA for the fifth consecutive year, and continues on its efforts to be a credible stakeholder to our partners and our communities by promoting inclusive business practices that will help develop and sustain our fenceline communities. This is through enabling meaningful economic participation and inclusion,” ended Lukhele.

 

Sasol may, in this document, make certain statements that are not historical facts that relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return, executing our growth projects (including LCCP), oil and gas reserves and cost reductions, including in connection with our BPEP, RP and our business performance outlook. Words such as “believe”, “anticipate”, “expect”, “intend", “seek”, “will”, “plan”, “could”, “may”, “endeavour”, “target”, “forecast” and “project” and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully in our most recent annual report on Form 20-F filed on 28 August 2018 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
 
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