More than just business
Is HCI an exemplary corporate citizen?
The investment group says it aims to be an exemplary corporate citizen but it is not always that, writes Ann Crotty
HCI’s recently released 2017 integrated annual report contains a long letter to shareholders from chairman Johnny Copelyn in which he outlines the company’s impressive achievements over the past 20 years. Sectors in which HCI has built up substantial businesses include mining, television and gaming. In the process of establishing these HCI has created substantial value for its shareholders, in particular for the SA Clothing and Textile Workers’ Union. The union was not only one of the initial funders of Copelyn’s business ambitions, it provided HCI with extremely valuable black economic empowerment credentials. Given this context, it’s no surprise that Copelyn takes the opportunity to remind shareholders there isn’t just a commercial side to the story: "HCI has tried to develop itself as an exemplary corporate citizen." The four-page letter provides an interesting insight into the growth of one of the country’s most successful post-apartheid corporate stories. Anyone who knows Copel...
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