Brand design agency The Red Quarter (TRQ) has entered into a pioneering shareholding agreement that sees a Section 21 company, The Mkhwanazi Academy for Christian Entrepreneurship (MACE), taking up a 20% stake in the agency.
Based in Vosloorus, the MACE campus runs programmes to identify, develop and support young township entrepreneurs. This initiative seeks to make a meaningful change in South Africa's disadvantaged communities by helping to create a new generation of job creating businessmen.
The academy was founded by renowned young entrepreneur Zibusiso Mkhwanazi, co-founder of Csonke Holdings and a recipient of several awards and accolades, most notably the African ICT Achiever award's 'Top ICT individual in Africa' award.
“This is not your classical 'door opening' BEE deal,” says TRQ's Managing Director, Alan Golden. “It is an enlightened understanding of mutual benefit.” He continued: “We will provide much needed financial and logistic support to the Academy and in return benefit from an improved BEE status and greater consumer and business insight at grass roots level.”
Craig Morris, co-founder and Executive Creative Director of TRQ, commented: “We will also identify potential creative and management interns who can benefit from work experience at the agency.”
Mkhwanazi added: “The Red Quarter partnership transcends BEE equity. The agency and its executives are committed to sharing their knowledge and expertise as lecturers and mentors at the academy. The resources of the agency will also be leveraged to help further the academy's awareness and fundraising objectives.” Mkhwanazi has been appointed as non-executive chairman representing MACE on the TRQ's Board of Directors.
Strengthening the agency even further will be the arrival of young marketing firebrand Veli Ngubane, who joins as a Strategic Director. Veli is a new era thinker, combining market understanding and innovative interpretation to create dynamic strategies. He is particularly passionate about building brands. Ngubane will be a significant TRQ shareholder and a member of the Board of Directors.
“TRQ and MACE share a belief that entrepreneurship is one of the keys to poverty alleviation. Our relationship is a true BBBEE partnership which benefits all stakeholders, including the community, and the future of South Africa,” concluded Golden.
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