Lietsiso Mohapeloa has joined the board of Source Consulting SA after buying a 35% stake in the company.
Mohapeloa says his role at Source is to ensure the company's black economic empowerment (BEE) credentials are on track and in line with government requirements. Other functions include gearing Source to comply with imperatives such as governance, social responsibility, employment equity and skills development.
"The BEE principles, which introduce a system of preferences in favour of black people principally through procurement reform, is an important transformation tool and the key to growth for many organisations in SA," he says.
"At Source Consulting, we are fully committed to this path and intend to assist government to achieve its socio-political objectives which include correcting the current wealth disparities that are defined in racial and ethnic terms."
Mohapeloa is a board member of the Gauteng Gambling Board and the Construction Industries Development Board and is a panel member of the International Telecommunications Union. He has also served as chairman of the Construction Industries Confederation and as vice-chairman of the Black Construction Council of SA.
"Even after 10 years as a democracy, the black population still harbour better expectations of better economic conditions," says Mohapeloa. "Most South Africans accept these to be reasonable expectations for people to have in the country of their birth. Conditions have to be created for such expectations to be realised."
Source Consulting, headed by founders Jack Ward and John Hope-Bailie, MD and technical director respectively, is a storage and infrastructure company founded in 1988. Source UK, based in Surrey in the UK, has a 10% equity stake in the local company.
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