Charity begins at home!
Group Financial Services (Pty) Ltd will host the country’s first commodity charity day.
In embracing the spirit of giving, all commissions earned by the Durban-based group via Johannesburg Stock Exchange (JSE) South African Futures Exchange (SAFEX) commissions raised on November 26 will be donated to three nominated charities.
MD Paresh Kotecha anticipates the initiative will raise a substantial sum. From this week, he will follow-up emails sent to the company’s clients and telephone 200 senior traders and brokers nationally to confirm their pledges.
“Our philosophy is to give back to the society from which we derive our income. The Durban staff forwarded the suggestions regarding the recipient charities,” he says.
Ina Borstlap of the KZN Cerebral Palsy Association, Rose Parker-Weekes of St Giles Association for the Handicapped and Barbara Gourlay of The Highway Hospice were each delighted by the innovative project and at being chosen as beneficiaries.
Kotecha continued: “We are privileged. The last 12 months have been impossible for the community that cares for these special people. During recessionary periods, those in greatest need are the ones most often forgotten and left suffering.”
B&P is a key player on the JSE SAFEX Commodity Derivatives market and the company recognises its obligations towards addressing the country's historic imbalances.
“While most of our activity is directed towards the agricultural and food sector, we have adopted several projects individually from a school in Phoenix to active social responsibility initiatives,” Kotecha says.
Additional information
Paresh Kotecha, who has been involved in the grain and oilseed business since 1984, established B&P Investments. Between 1990 and 1993, he developed contracts in the African trading markets with dealings in Sudan and Zambia where he established ground level trading operations in Lusaka.
In 1997, while maintaining a marketing structure in Zambia, he moved to Durban, to capitalise on the opening of the largest grain market in southern Africa. A particular advantage of the South African Grain markets is that it has, a JSE-regulated, derivatives exchange SAFEX.
B&P Group Limited was incorporated in the British Virgin Islands in February 1997 with the South African operations founded in May that year. In February 1999 B&P Group Limited established a SAFEX brokerage operation, while the following year the company bought its own seat on the exchange. In 2002 all SAFEX-related brokerage business was consolidated into B&P Group Financial Services (Pty) Limited. Since 1996, the company has been a principal member of the world's largest grain trade association Grain and Feed Trade Association (GAFTA) and has close relationship with various GAFTA committees.
B&P has established relations with two of the world's largest commodity brokers and clearing members, enabling it to offer clients extensive international risk management tools and in-depth expertise.
The key management has more than 100 years global commodity trading experience with some of the largest trading houses and is professionally qualified with various financial and regulatory institutions. In addition, qualified back office personnel professionally assist the management team.
B&P Group Financial Services (Pty) Limited is a South African registered company (1998/023677/07). The company has rights on the JSE SAFEX APM.
B&P Group Financial Services (Pty) Ltd has been evaluated in terms of section 9 of the Broad-Based Black Economic Empowerment Act 53 of 2003 using the QSE Scorecard and has obtained a Level Five Contributor Status and an 80% Procurement Level.
The company is also a principal member of the Grain and Feed Trade Association (GAFTA) in London.
B&P is active in promoting staff within the company, encouraging and supporting related academic education and training. This includes on-site JSE SAFEX APM dealer and compliance qualifications as well as an on-going specific SETA learner ship programme to develop skills for previously disadvantaged staff members.
