South Africa’s Biggest Investor Marketing Agency Concludes Major B-BBEE Deal
Johannesburg – South Africa’s leading investor marketing agency, Ince (Pty) Limited, has significantly transformed its shareholding structure with KhumaloCo, led by media entrepreneur Andile Khumalo, increasing its interest in Ince to 26%. Additionally, Isiqhingi Communications, Ince’s employee investment scheme, will own a further 4% stake, increasing Ince’s total Black ownership to 30%.
This has resulted in an improvement in Ince’s Broad-Based Black Economic Empowerment (B-BBEE) rating from a Level 8 to Level 2. The two other major Ince shareholders, the Atkinson Family and JSE-listed, Caxton, disposed of 16% and 10%, respectively, to KhumaloCo.
Ince, which is headquartered in Sandton and has offices in Cape Town, Durban, Mauritius and London, is the leading investor marketing agency in South Africa. It aims to improve communication between companies and the global investor community, using mainly digital products to create an interconnected community of informed contributors and a more inclusive investment ecosystem. Some of Ince’s biggest clients include Old Mutual, Sasol, Absa, Nedbank and Liberty.
Andile Khumalo has been appointed Chairman of the Ince Board. He replaces Caxton’s Piet Greyling who remains a director. Piet has guided the Board and Company through the transitions over the last 18 months. The planning and implementation of a B-BBEE transaction has been a unique and complex process which required a significant investment of time and resources.
“Ince, as a family owned business continues its journey with the Atkinson and Khumalo families coming together and now owning 80% of the business,” added Alban Atkinson. “We are committed to each other as families that wish to build a truly transformed, South African business that leads the way for other businesses to follow as we grow, and as we help build the South Africa we want for ourselves and the generations to come.”
“My relationship with Ince has come full circle” says Andile Khumalo. “From my early days in banking, to more recently as an entrepreneur, I have experienced a business led by the steady hands of the Atkinsons and a management team that always puts quality and the customer first. 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 South Africa, but globally as well. As a family we are honoured to be an integral part of this journey”.
About Ince (Pty) Ltd:
Ince prides itself in being a company with a thirst for adventure and a story of entrepreneurship and adaptation. Ince has evolved superbly well with the market over the years and its group of experienced, focused and restless individuals continue to disrupt the market, and themselves, by always looking ahead to anticipate changing investor communication trends. This ensures Ince remains a step ahead of the market and can continue working alongside customers to embrace new strategies and propositions. This also delivers Ince’s vision of building a community of connected stakeholders by facilitating wealth creation for a more inclusive society, into reality.
This article was first published www.ince.co.za 27 November 2019