https://newsletter.en.creamermedia.com

KSB South Africa achieves Level 1 BBBEE status

6th August 2018

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

KSB Pumps and Valves, which has offices in Gauteng’s East Rand, has achieved Level 1 broad-based black economic empowerment (BBBEE) status after black women-owned company Insikazi Synergies acquired a 30% stake in KSB South Africa.

“Achieving Level 1 BBBEE status has marked a major milestone for us and is evidence of our philosophy of operating globally and thinking locally. Transformation is not only a strategic imperative for operating in this market, but something we embrace as a company that will soon celebrate 60 years of operating in South Africa.

“We are proud to be the first pump and valve original-equipment manufacturer (OEM) to achieve Level 1 BBBEE status,” KSB South Africa MD Dr Sven Baumgarten said on Monday.

Insikazi has four shareholders, two of whom – Nonhlanhla Ngwenya and Matshepiso Finca – will join KSB South Africa’s board of directors.

Ngwenya, an electrical engineer, pointed out that KSB is poised for further growth in South Africa and in sub-Saharan Africa.

“We are delighted to be part of this journey, using our relevant experience, networks, and technical and managerial skills to add value to the company,” she said.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.087 0.179s - 189pq - 2rq
Subscribe Now