Avidity Energy Foundation

The Avidity Energy Foundation was established as a Section 21 Non-Profit Company, by partner Avidity Energy (Pty) Ltd. Avidity Energy (Pty) Ltd will as part of their social transformation initiatives, set aside considerable amounts of annual turnover towards the Foundation and will approach Private and other institutions to also join as partners to the Foundation.  The foundation will strive to address the inequalities and inadequacies in our rural and disadvantaged areas, and further qualifies as an Enterprise Development investment in terms of the Broad Based Black Economic Empowerment Act 53 (“B-BBEE”) and the Codes of Good Practice. Private Sector, Companies, Institutions, Co-operatives and other partners in terms of the new BEE Codes, can now secure their Enterprise Development points by contributing towards the Fund / Foundation in supporting one of it’s “Adopt-a” programmes

OBJECTIVES OF THE FUND / FOUNDATION
The following objectives form the basis of The Avidity Energy Foundation.   We strive to:-
-   Act as non-profit foundation fostering development within rural and disadvantaged areas where we operate, inclusive
   of the broader energy industry.
-  Secure funding from private and other sectors in support of our Adopt-a-IeC, Adopt-a-SMME and Adopt-a-
   community project programmes
-  Promote & coordinate research and education in alternative energy solutions, conservation and global climatic change.
-  To provide Bursaries and Learnerships for the education of Learners, Entrepreneurs, Small Business Owners and 
   Co-Operatives in fields of interest consistent with our objectives
-  Operating with the highest standards of corporate governance, transparency and integrity.
-  Mobilize, development and retain skilled business development partners.
-  From a Transformation perspective, create a Localization database, whereby companies being awarded a tender can
   network with accredited local SMME’s listed on the database in support of use of local participation in tender
   execution.
-  Provide appropriate entrepreneurial development, support and investment funding in terms of Enterprise
   Development requirements, in order to reduce the risk of business failure and creating sustainable businesses.
-  Administer awards for the purpose of recognition and encouragement of outstanding achievement in areas of study
   consistent with these objectives.

BENEFITS FOR PARTNERS IN SUPPORT OF OUR PROGRAMMES
-  The fund / foundation qualifies as an Enterprise Development investment in terms of the BEE Codes, thereby allowing
   companies in South Africa to secure their Enterprise Development points immediately on payment.
-  The fund is a Category A Enterprise Development Beneficiary with a benefit factor multiple of 1.25, thus every Rand
   spent can be multiplied by 1.25 when establishing Enterprise Development points for the BEE Codes.
-  Enterprise Development funding from companies can be in the form of bursaries, learnerships, localization, grant or
   financial contribution. Companies can now take an active role in shaping a commercially scalable approach to SMME
   growth and job creation by investing where they see potential for shared value – and can ensure that their
   contribution is invested on a commercial and sustainable basis
-  Companies participating in the fund will not be required to dedicate their own human resources. The fund is managed
   by a professional independent team.
-  High ethical and governance standards will be maintained