Magnetic Storm is proud to announce that it is now 51% black-owned company following a transaction with local black private equity company, Engeli Enterprise Development (Pty) Ltd and the Unity in Africa Foundation. Engeli is a verified Black Private Equity Fund Manager (in terms of the Amended BBBEE Codes) and looks to enrich the businesses it partners using its diverse skills, knowledge and network of strategic alliances. Part of the shareholding is with Unity in Africa Foundation, an … [Read more...] about Magnetic Storm appoints new shareholders making it 51% black owned
Shareholding
Guptas to Sell Shareholding in All South African Businesses
Guptas to Sell Shareholding in All South African Businesses: The Gupta Family said: Since our decision to step down from all executive and non-executive positions in all our South African business in April 2016, the local management team has grown our businesses from strength to strength, with turnover and profits showing good growth and more jobs created. As a family, we now believe that the time is right for us to exit our shareholding of the South African businesses which we believe … [Read more...] about Guptas to Sell Shareholding in All South African Businesses
