Ince Clinches BEE Deal with Andile Khumalo
Updated: Jul 21, 2020
Business person Andile Khumalo has bought a 26% stake in family-owned communications and marketing agency Ince, in a move that will improve the company’s BEE status and its offering to clients.
Khumalo bought the shares from Caxton, which held 10%, and Ince founders, Atkinson Family, which disposed of 16% of the business. Ince’s employee investment scheme will own a further 4% stake, taking the company’s total BEE shareholding to 30%.
Ince specialises in marketing and investor communications for corporate firms like Old Mutual, Sasol, Absa, Nedbank and Liberty.
Khumalo told Business Day he is most excited about the opportunity to digitally transform the investor communications space. He said companies have to deliver information to investors in ways that are relevant and succinct.
Khumalo has been appointed chair of the Ince board, replacing Caxton’s Piet Greyling, who remains a director. Khumalo said the vision is to make Ince, which has offices in Johannesburg, Cape Town, Durban, Mauritius and London, more inclusive and representative of the country.
Ince founder Alban Atkinson said: “Ince, as a family-owned business, continues its journey with the Atkinson and Khumalo families coming together and now owning 80% of the business.
“We are committed to each other as families that wish to build a truly transformed SA business that leads the way for other businesses to follow as we grow and as we help build the SA we want for ourselves and the generations to come.”
Khumalo said “there has been excellent support provided by the Caxton group over the years and together with Ince’s much-improved transformation profile, we are a business on a unique growth trajectory, specifically building a digital future for our valued client base. This will all allow us to expand, not only in SA, but globally as well".
This article was first published on www.businesslive.co.za on 28 November 2020