BEE investment company launched in city

2007-11-30 00:00

A new black-owned and -managed Pietermaritzburg-based investment holdings company was launched in the city this week, under the directorship of four well known KZN leaders.

Amakhono Capital, a new company that aims to create value by focusing on niche investment opportunities, has been set up by Dr Naledi Moyo-Ndwandwe (CEO of Sibusiso and former CEO of Trade and Investment KZN), Bheki Zulu (acting CEO of the Council for the Built Environment), Roshan Morar (director of chartered accountants firm Roshan Morar and Associates) and Thoba Poyo-Dlwati (a director of the law firm Ngcobo, Poyo and Diedericks).

Sandile Madlala has been appointed managing director of Amakhono Capital.

The company’s investment focus hinges on three key pillars, namely:

• holdings, which aims to take part in both established and new ventures, focusing largely (but not exclusively) on transactions of up to R25 million;

• properties, aimed at property development and the property management market, engaging largely in ventures of R45 million or more; and

• services, relating to Black Economic Empowerment (BEE) Advisory Services.

Zulu noted that while transformation has been slow in KZN, it is possible to convince small businesses that there is value and sustainability in finding the right partners when establishing BEE deals.

Poyo-Dlwati said that the company’s representatives are excited about assisting businesses that are contemplating BEE deals through Amakhono BEE Advisory Services.

Morar said the importance of ensuring that BEE deals are structured properly, in order to ensure their sustainability. A critical ingredient in the future success of the new company will relate to the support it receives from the various banks.

Representatives from the Msunduzi Municipality welcomed the move, noting the scope for public-private partnerships in Pietermaritzburg.

It is understood that the municipality will soon be in the process of packaging and marketing a number of properties in the near future after recently concluding its land disposal policy.

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