R/€ = 13.04
R/$ = 12.07
Au 1204.60 $/oz
Pt 1170.50 $/oz
Mar 27, 2006
Japanese logistics firm in empowerment dealBack
© Reuse this Newly-established black economic-empowerment (BEE) investment company, the Keodirelang group, has acquired a 25,1% stake in the South African arm of Japanese global logistics giant Kintetsu World Express (KWE) in a multimillion-rand transaction.
Keodirelang, a newly formed strategic investment company specialising in BEE transactions, includes Khusela Women’s Investments, Madala Mthembu, CEO of Tennant Africa, a black-owned commodities and logistics company, and Kgosie Matthews.
“There are tremendous opportunities in the transport and logistics sector, and KWE is well-positioned to take advantage of the general growth in the African economy,” Mthembu said, adding that KWE South Africa provides a one-stop logistics service to a range of clients, and received the Platinum Award in the 2005 Logistics Achiever Awards for logistics excellence in supply-chain management.
KWE SA MD Shuji Kawakami indicated that the company intended using its local-market dominance to enhance its position as the gateway into the rest of Africa.
KWE SA’s key business areas include general logistics and specialised freight forwarding and customs-clearing services.
Edited by: Nelendhre Moodley© Reuse this Comment Guidelines (150 word limit)
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