In terms of its founding trust deed, the Golden Arrow Foundation has to apply its resources to the social, education and community development of underprivileged persons from all communities in the Cape Metropole. Its key focus areas are job creation, entrepreneurship, people development, and poverty eradication.
An area of particular interest is the allocation of bursaries. The foundation awarded 360 bursaries during the past year. These bursaries cover 1st, 2nd, 3rd and 4th year students studying at technikons, universities, teachers’ training colleges and technical colleges in the metropolitan area. The Foundation strives to support academic achievement rather than academic brilliance and therefore the progress of the students is monitored throughout the year.
These activities are funded by the capital resources, exceeding R100 million, generated by the sale of its shares in the company to Hosken Consolidated Investments when that company acquired all shares in Golden Arrow Bus Services.
Golden Arrow Foundation 2003/2004