WNS South Africa Unveils New Share Trust For Staff
CAPE TOWN, 20 July 2017: WNS South Africa, a leading international Business Process Management company, today announced the unveiling of a new Staff Share Trust to meet the Broad-Based Black Economic Empowerment (B-BBEE) Amended Codes of Good Practice while also celebrating the company’s diverse and talented workforce.
Johann Kunz, Managing Director of WNS South Africa, says that the WNS Staff Share Trust was designed to promote meaningful ownership in line with B-BBEE codes, allowing eligible employees the opportunity to own shares in WNS South Africa.
“We place a strong focus on our people and thus we’d want to present them with every available opportunity that can contribute to their personal improvement and progression. Instead of simply complying with the standard B-BBEE requirements, we chose to convert it into an opportunity for social and economic upliftment that can benefit our staff,” he says.
Kunz notes that although subscribing to the B-BBEE codes is not compulsory, he urges more South African businesses to do so, and as a result, effect a positive change within the communities in which it operates.
The WNS South Africa Staff Share Trust is just one of the strategic transformation initiatives the company currently undertakes. Other initiatives include a registered in-house learning and development academy providing accredited qualifications to staff, a bursary programme for employees, a graduate programme for uniquely-abled persons as well as black-owned small enterprise development initiatives, among others.
Valued at R80 million, the WNS Staff Share Trust also promotes female ownership, with 50% of the shares being allocated to eligible female employees.
All shares will be held in a registered trust, and receive a minimum committed appreciation of 40%. At the end of the term, beneficiaries will have the option of receiving a cash settlement or to be issued shares in WNS (Holdings), a listed entity on the New York Stock Exchange (NYSE: WNS).
After having recently undergone a B-BBEE verification process, WNS South Africa received recognition as a Level-4 B-BBEE contributor and qualifies as an Empowering Supplier according to the B-BBEE Amended Codes of Good Practice.
WNS South Africa has not only pioneered the development of the local Business Process Outsourcing industry, but now leads the way as the largest BPO provider with this level of B-BBEE compliance in the country.
“WNS South Africa remains committed to creating meaningful, holistic transformation that maximises social impact and always adheres to the B-BBEE Amended Codes of Good Practice. This way we not only ensure that we are compliant, but we also continuously improve our status as a contributor and can continue to confidently do good business,” concludes Kunz.
WNS (Holdings) Limited (NYSE: WNS), is a leading global business process management company. WNS offers business value to 300+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics, Healthcare and Utilities. WNS delivers an entire spectrum of business process management services such as finance and accounting, customer interaction services, technology solutions, research and analytics and industry specific back office and front office processes. As of June 30, 2017, WNS had 34,789 professionals across 52 delivery centers worldwide including China, Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, United Kingdom and the United States. For more information, visit www.wns.com.
About WNS South Africa
WNS Global Services SA (Pty) Ltd has been in operation since 2003 and has built a reputation as the industry leading Business Process Outsourcing (BPO) Company in South Africa, with a growing footprint into Africa. We are a strategic partner for delivering a full range of basic to complex business processes from our eight delivery centres across South Africa, employing 4 000+ people.
Safe Harbor Provision
This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most recent Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Group Manager: Marketing
WNS South Africa
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Assistant Manager: Marketing
WNS South Africa
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