Set up in 2010 as one element of the broad-based black economic empowerment transaction conducted by South African Breweries Ltd (SAB), the SAB Foundation is an independent trust that annually invests millions of rands towards developing entrepreneurship in South Africa.
The SAB Foundation holds 8.4 million SAB Ltd shares and applies the dividend and special dividend income received from these shares for the benefit of the wider South African community.
SAB Foundation was the first organisation in South Africa to received tax exemption and is registered as a tax exempt Small Business Funding Entity under section 10(1)(cQ) of the Income Tax Act.
The object of the SAB Foundation is as follows:
> The provision of funding for small, medium and micro-sized enterprises, in order to contribute to the economic and social empowerment of historically disadvantaged persons, primarily (but not necessarily exclusively) by means of entrepreneurship development and with a priority focus on providing opportunities within small, medium and micro-sized enterprises for women and youth in the rural areas, as well as persons with disabilities.See more