Divercity, in its founding principle and core fund objective, is committed to the transformation agenda of South Africa. Through its various activities, Divercity is working towards a more transformed and equitable society in the following areas:
In the South African context, Divercity firmly believes in the importance of undoing of Apartheid Era spatial divides that, to this day, segregate our cities by race and class. By developing integrated neighborhoods in centrally located areas, Divercity is bringing histrionic marginalized households that are typically pushed out to the urban edge, far from opportunity, into the urban core. This is by far the most meaningful and significantly transformative aspect of Divercity’s business model.
EMPLOYMENT AND SKILLS DEVELOPMENT:
Of Divercity’s roughly 400 employees, over 90% are black. Through a process of continuous internal skills development and mentoring, Divercity has over the past 10 years promoted numerous employees to more senior positions in the business – thereby increasing their earning potential and promoting a culture of inclusive growth within the business.
Divercity follows a policy of preferential procurement from empowered suppliers. During 2019, of Divercity’s c. R800m in non-finance procurement spend, over 55% was procured from BEE Level 1 and 2 suppliers and over 75% was procured from BEE Level 4 and below empowered suppliers.
Divercity’s high-density precincts provide fertile ground for small businesses to thrive in. In addition to creating an enabling environment for small black businesses, Divercity directly supports small black-owned businesses through preferential rental rates and business development support to supply essential services such as childcare facilities, basic services and small format retail in our precincts.