Ovations, a business consultancy specialising in process, content, integration and change management, has today announced the conclusion of its business partnership agreement with Kunene Bros Holdings (Pty) Limited (KBH). The partnership deal sees KBH, in conjunction with the National African Women`s Alliance (Pty) Ltd (NAWA), acquiring a 30% equity stake in Ovations.
The formalisation of this strategic business relationship follows discussions among the three parties in terms of the optimal structure for the agreement. The final transaction sees the equity breakdown among the parties as follows: Existing Ovations shareholders 70%, KBH 20%, NAWA 10%.
KBH, an `active ownership` business, with diversified interests, was incorporated in 1994. All five Kunene brothers are involved in the business, ensuring the company can provide an extensive range of services to numerous companies across different industry sectors.
NAWA, an investment company created in 2003 to drive empowerment of women in SA, will use this agreement with Ovations and KBH as a means to allocate funds to women in local communities across all nine provinces, thereby supporting the organisation`s objective to improve opportunities and promote skills development for women in the country.
"On behalf of KBH, I wish to convey our enthusiasm regarding our involvement with this dynamic group of people. We are committed business partners to Ovations and look forward to approaching business opportunities hand in hand, by assisting them to break into new market sectors and further penetrate areas in which they already have a presence," says Dudu Kunene, Chairman of Kunene Finance Company and Kunene Motor Holdings at Kunene Bros Holdings.
"Through our dealings with KBH and NAWA, we have developed a trustworthy relationship that provides an excellent foundation to take our business forward. We look to the future with eager anticipation and are fortunate to have this opportunity to join forces and have exposure to the skills, experience, drive and business acumen of the people within these organisations," says Gys Hyman, managing director at Ovations.
"These investments provide a clear signal in both our own and NAWA`s confidence in the Ovations business and we foresee immense potential in the company`s vision as it strategically aligns itself as a leading services consultancy within the local market," concludes Kunene.
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Ovations is a leading South African business consultancy specialising in process, content, integration and change management. As a trusted business partner, Ovations works with leading solutions suppliers to deliver process and content-driven business transformation solutions that enhance its customers` operational efficiency and visibility. With extensive skills, knowledge and expertise Ovations is able to leverage and enhance existing infrastructure and ensure that customers benefit from the deep understanding of business needs that only a truly South African company with international knowledge can deliver.
For further information please visit http://www.ovations.co.za.
Kunene Bros Holdings
Kunene Bros Holdings (Proprietary) Limited (KBH) was incorporated in July 1994 as an "active ownership" business with diversified interests. All five Kunene brothers have joined the full time employment of the company as active owners enabling KBH to provide a range of services to group companies. In 1994 Kunene Finance Company (KFC) was established for the purpose of raising medium to long term finance to fund the group`s investment programme. KFC is controlled by KBH in partnership with six financial institutions. KFC is a diversified holding company.
For further information please visit http://www.kunene.co.za
NAWA
The National African Women`s Alliance (Pty) Ltd is an investment company set up to drive economic empowerment of women throughout SA. Established early in 2003, we are representative of black women throughout the country, being 100% owned, controlled and managed by previously disadvantaged women from various professions, business and industries. Our emphasis on empowerment, development and creation of better opportunities is centred on those who want it, need it and are willing to use it. The concept of women empowerment is not new, but it has not been driven with sufficient energy, force and commitment, hence the formation of NAWA.
For further information please visit http://www.nawa.co.za/nawa/default.asp.
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