As a AAA-rated BEE investment company with a Level 1 Contributor status, New GX has solid BEE credentials and considers the promotion of a broad based BEE scorecard approach to be a core facet of its operational influence in portfolio companies. New GX actively seeks investment opportunities in South Africa where sustainable BEE policies can be implemented and where tangible value can be achieved through their dissemination.
New GX is in the process of finalizing its application to the Financial Services Board of SA to become a licensed financial services provider. The conclusion of this process is imminent and will see New Gx provide their partners with the added security inherent in dealing with an FSB accredited company.
Social Community Investment
HM Pitje Foundation
The HM Pitje Foundation was established as part of New GX’s strategy for pursuing excellence and empowerment for communities in the previously black townships. New GX is conscious of the need for targeted social projects especially those related to education, and has participated in and championed a number of welfare projects, through the HM Pitje Foundation.
Developed in honour of Hezekiah Mothibe Pitje, a pioneer of black business and a dedicated entrepreneur and philanthropist, the HM Pitje Foundation was founded in 2011 by Khudusela, Mr.Pitje’s son.
The foundation’s primary remit is to establish infrastructure in township schools in Pretoria, focusing initially on Soshanguve, Mamelodi and Phokwane in Limpopo. The foundation will provide both the funding and the assistance required for the development of vegetable gardens, sporting facilities, libraries and computer rooms, thus affording scholars within these disadvantaged communities the tools they need to better succeed.
The Foundation will be headed by Vuyelwa Pitje, the widow of the late HM Pitje, the former Mayor of Mamelodi, who brings a wealth of experience in the management and development of health and education community projects.
Working on the premise of transparency towards its donors, and the provision of essential aid to township schools, the HM Pitje Foundation will continue to honour the memory of its namesake by carrying on the work he started. The Trust will partner with New GX in BEE transactions to enable the asset base and revenue source for the trust to grow in a sustainable manner thus leaving a lasting legacy.