CAMSECURE CYLON DOCUMENT STORAGE SULZER PUMPS BTC PRODUCTS PMG EDUCATION

DESIGNED AND HOSTED BY GAMLOT

Press Releases

Ernst & Young enters into MOU with Sakhumnotho Group Ernst & Young
Posted: Wed, 30 Aug 2006 09:56 | C Moneyweb Holdings Limited,

The In Business Today section is reserved for relevant company announcements and releases. Companies are not entitled to have their announcements published in this section, but from time to time, these may be selected by Moneyweb for publication in the interest of the Moneyweb Community of readers.
The copy has not been generated by Moneyweb nor should be attributed to Moneyweb. Nor has the information contained therein been verified by Moneyweb journalists.
Audit and business advisory firm, Ernst & Young, has announced that it has signed a Memorandum of Understanding (MOU) with Sakhumnotho Group Holdings, a diversified black economic empowered company with interests in mining, industrial systems, financial and investment services and property. According to Kunyalala Maphisa, Business Development manager at Ernst & Young, this agreement is a component of the company's Future Power Company
(FPC) initiative, through which Ernst & Young identifies companies with potential to be market leaders and forges mutually beneficial, long term relationships with the aim of assisting the companies reach their potential.
"Through the FPC initiative, Ernst & Young is identifying potential and assisting in the growth of promising South African companies. Sakhumnotho is the first such company and it is a company which has the vision, executive ability and strategic direction to become a leading company not only in South Africa but across the continent," says Maphisa. Founded in late 2000 by a group of four black professionals with experience and expertise in financial services, legal services, merchant and investment banking, Sakhumnotho Group initially focused on corporate advisory services and consulting, focusing mainly on structuring black empowerment transactions, valuations, due diligence, capital raising and documentation.
It has since expanded its business to focus on financial services, mining, properties and strategic investments. As an organisation which is deeply committed to the principles of broad-based black economic empowerment, it has placed 10% of its equity in a trust to benefit schools, children's homes and churches in previously disadvantaged communities. While each beneficiary is represented by a principal or reverent as trustee, Sakhumnotho is also represented to ensure that funds reach beneficiaries on the ground. Sakhumnotho Group chairman Sipho Mseleku says the company is proud to be the first partner of Ernst & Young's FPC programme. "Being the first on the programme is an acknowledgement of what we have created. This is a relationship that adds significant credibility to our company since Ernst & Young is a recognised global leader, while access to a wide variety of professional services necessary to assist in company growth. The association also ensures that we continue to operate in line with codes of good practice and corporate governance," he notes. Wynand Goosen, Sakhumnotho CEO adds that the company's mission is to identify investment opportunities with both strong short-term revenue generation and long term capital appreciation. "The concept of skills transfer and capacity building is at the core of our business philosophy, as is the advancement of previously disadvantaged individuals and the support of black business. This is done through targeted community involvement and procurement initiatives," he explains. Goosen adds that with an active business and political network across Africa, the Sakhumnotho Group participates in varied investments across the continent. "With our extensive portfolio, we believe the MOU with a company as distinguished as Ernst & Young gives us access to professional services and strategic advice of the highest calibre. The capacity that we are able to access through this agreement equips the company to take further steps to continue positive growth," he says. Says Maphisa: "Through the MOU, Ernst & Young will assist Sakhumnotho by providing core services from our portfolio which are suited to the client and assist it in taking its vision forward and realising value for shareholders and its BEE beneficiaries. We believe this is a company which is a future market leader - not just as a BEE company, but in its own right."
Wynand Goosen
CEO
Sakhumnotho Group Holdings (Pty) Ltd

Sulzer

Biz Africa

Top Companies Publishing and Events is proud to inform you that Sakhumnotho Group Holdings (Pty) LTd has been nominated as one of South Africa's Top Empowerment Companies in the Investment Companies sector by Impumelelo: South Africa's Top 300 Empowerment Companies, and will appear in the 2005/06 edition of this prestigious publication. Congratulations!
DETAILS

SULZER

Photo Gallery

Since 1922, Sulzer has successfully participated in the South African market.  Now in 2005, to take advantage of the opportunities of expanding its business presence, Swiss-based multinational Sulzer Pumps Ltd initiated an equity programme for their South African subsidiary, Sulzer Pumps (South Africa) (Pty) Ltd.   Sulzer Pumps Ltd is a global leader in the development and supply of centrifugal pumps to selected industries, mainly oil and gas, hydrocarbon processing, pulp and paper, power plants and the industrial water sector, and its products are internationally reputed for their technical excellence.

This programme has enabled the South African company to further develop a sustainable competitive advantage; to create value for all its stakeholders; to provide knowledge resources; and to commit to a strong social investment in the local community's well being.

What is also important is the fact that the new BEE partner, Sakhumnotho Pumps (Pty) Ltd., brings tremendous energy and leverage to the table in terms of creating wealth, skills development, as well as expertise and experience in the targeted markets.  Sakhumnotho Pumps (Pty) Ltd., will be an active partner in expanding Sulzer's presence in South Africa.

This Black Empowerment deal is a landmark in that it reflects the possibilities for foreign companies operating in South Africa to find ways to sell equity to BEE partners.   As has been clearly shown, Sulzer is here for the long haul, investing in people, investing for the future. With this in mind it can only enhance the company's credibility with existing and new customers.

Media Release: Biz Africa enters into black economic empowerment transaction with Sakhumnotho.

Biz Africa 1320, a well-know Middelburg company that provides a number of services and products to the mining industry, has entered into a substantial black economic empowerment transaction with broad based black economic empowerment consortium, led by Sakhumnotho Mining.

In terms of the agreement, signed on Monday, Sakhumnoto and it’s consortium partners, Africa Best Financial Services and Aguleruo Investment Holdings, will acquire 51% of Biz Africa.

Biz Africa is predominantly active in supplying the following services and products in the mining industry:

• Roof support equipment
• Shuttle cars
• Service vehicles
• Feeders and feeders brakers
• Face drills
• Forklifts
• Continuous miner

 

Martin Pretorius, the Managing Director of Biz Africa said yesterday that he was delighted that his company could start the year with such an important transaction.

“We view this transaction as a strategic one with our eyes firmly fixed on the future. We want to be fully BEE compliant and that reason sold a majority share in our business. We know we have high quality products and this new partnership will make us even more competitive” Pretorius said.

Sipho Mseleku, the Chairman of Sakhumnotho, said that he was confident that the new combination of skills, networks and business acumen on both sides, would result in the accelerated growth of the company.

Mseleku, who is the Chairman elect of the company, indicated that the Sakhumnotho Group made the investment because it made good business sense and because of the synergies between the partners entering into the agreement.

“We believe that it is a win-win situation where all parties to the agreement will add substantial value to the final product” he said.

Issued in Middelburg, Tuesday 7 February 2006.

 

Enquiries: Martin Pretorius 0836304345
                 Sipho Mseleku 0829417820