Ownership Structure and Broad-Based Black Economic Empowerment
All directors and consulting actuaries employed by Keystone own a stake in the business. This ensures that the business is owned and operated by client facing consultants which results in better alignment between our client needs and our business structure.
Our current Broad-Based Black Economic Empowerment rating is “Level 2”.
The ownership structure of Keystone demonstrates our commitment to transformation within the actuarial profession and the upliftment of South African education (specifically mathematics, mathematical literacy and science), which we believe to be a fundamental component of achieving inclusive economic growth in our country.
Given the fairly recent establishment of the company, this structure is still a work in progress, but we are committed to the following principles:
Black ownership and voting rights will never be less than 51%.
Black ownership will mostly be via black professionals and black staff working in the business, i.e. the success of the business will reflect directly on the economic growth and development of these individuals (and not to “third party” investors, which may concentrate the economic benefits into the hands of a small number of people).
A significant portion of the ownership and dividends generated by the company will be used to fund the advancement of the financial literacy of disadvantaged groups. Our primary focus will be in two areas, namely education at a grass roots level and providing opportunities to black students who may not otherwise be able to enter the actuarial profession.