Kyocera Document Solutions South Africa (KDZA) unveils BEE deal
Kyocera Document Solutions South Africa (KDZA) has sold a stake in its business to Nozala Women in a deal that will allow additional equity for black women.
Kyocera has had a longstanding relationship with Nozala, which previously held a 15% share of KDZA.
The Midrand-based document management company will be changing equity with its holding company, Kyocera Corporation – a Japanese multinational ceramics and electronics manufacturer – to sell an additional 20% stake to Nozala.
The deal will increase KDZA’s black economic empowerment ownership to 35% and will enhance KDZA’s broad-based black economic empowerment (B-BBEE) credentials significantly, as the full 35% of Nozala’s ownership is black women.
“This initiative is perfectly aligned with Kyocera Documents Solutions' commitment of uniting our employees and local communities in strengthening relationships of mutual trust, while providing our support for the advancement of society as a whole,” said Takuya Marubayashi, President of Kyocera Document Solutions Europe.
“The long-term and successful relationship between Nozala and KDZA had come to a contractual conclusion and it was time to restructure the relationship into something that is meaningful and helps us all to progress,” said Werner Engelbrecht, General Manager: Kyocera Document Solutions South Africa.
“We have worked well with Kyocera for 10 years and our relationship has been underpinned by mutual respect. Kyocera’s business ethics are aligned with ours and we are looking forward to promoting the participation of women in business through this new investment,” said Salukazi Dakile-Hlongwane, Director of Nozala Women.
“It was becoming increasingly apparent that a black female stake in our business was the right thing to do, as it represents Kyocera’s philosophy of ‘do right as a human being’. We look forward to the next phase in which we can join forces to grow Kyocera’s footprint in South Africa and the rest of Africa,” concluded Engelbrecht.
The financial framework for this deal was provided by Cinga Capital, and Bowmans was the legal advisor.
Kyocera Document Solutions South Africa
Kyocera Document Solutions South Africa is a group company of Kyocera Document Solutions Inc., a global leading provider of total document solutions based in Osaka, Japan. The company’s portfolio includes reliable and eco-friendly MFPs and printers, as well as business applications and consultative services which enable customers to optimize and manage their document workflow, reaching new heights of efficiency. With professional expertise and a culture of empathetic partnership, the objective of the company is to help organisations put knowledge to work to drive change.
For further information visit www.kyoceradocumentsolutions.co.za
Kyocera Document Solutions Europe
Kyocera Document Solutions Europe is a group company of Kyocera Document Solutions Inc., a global leading provider of total document solutions based in Osaka, Japan. The company’s portfolio includes reliable and eco-friendly MFPs and printers, as well as business applications and consultative services which enable customers to optimize and manage their document workflow, reaching new heights of efficiency. With professional expertise and a culture of empathetic partnership, the objective of the company is to help organisations put knowledge to work to drive change.
Kyocera Document Solutions Inc. is a core company of Kyocera Corporation, a leading supplier of semiconductor packages, industrial and automotive components, electronic devices, solar power generating systems and mobile phones. During the year ended March 31, 2019, Kyocera Corporation’s consolidated sales revenue totalled 1.62 trillion yen (approx. US$14.6 billion). Kyocera appears on the “Derwent Top 100 Global Innovators 2018-19” list by Clarivate Analytics and is ranked #655 on Forbes magazine’s 2019 “Global 2000” list of the world’s largest publicly traded companies.
Nozala Women Proprietary Limited
Nozala Women Proprietary Limited is a 100% woman owned investment vehicle.Nozala Women has a diverse shareholder base which includes Nozala Trust whose mission is to support and develop sustainable black women entrepreneurs through capacity building, financial and technical assistance. Some of the Nozala Trust’s beneficiary partners include the National Movement of Rural Women, Muthande Society of the Aged and Sediba Women’s Trust.For more about Nozala visit www.nozala.co.za
About Nozala Women Proprietary Limited
Tel.+27 11 463 5588