OEN Enterprises partners with BBBEE consortium

January 2007 News

OEN Enterprises, a local supplier of highly technical and specialised process and environmental equipment, has announced that Rasai Holdings, part of a broad-based black economic empowerment (BBBEE) consortium, has acquired a 30% shareholding in the company. Rasai is a broad-based black-owned company that invests in and manages South African companies.

Rasai is chaired by Zandile Jakavula, a former CEO of Metrorail and Spoornet, and includes amongst its shareholders unemployed graduates (SAGDA), a women's group (Nesica) and a company housing young black professionals (Dreamworld). Some of the directors of Rasai include Thomas Mahaole and Justin Bgoni.

This new partnership will add value to OEN Enterprises' existing customer base by providing access to key markets which will contribute to sustainable growth in the future. The newly structured company offers an array of advantages in its favour, including the ability to achieve rapid expansion through empowerment. Rasai's primary objective is to invest in companies that will yield attractive returns through its proactive involvement. In addition to the new partnership, OEN Enterprises has appointed Colwyn Savings as the national sales manager in order to incorporate the combined resources of the partners into the new company strategies.

For more information contact Mike Andrews, OEN Enterprises, +27 (0) 11 675 4447, [email protected] or visit www.oenenterprises.co.za

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