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KSB South Africa achieves Level 1 BBBEE status

6th August 2018

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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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

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