10 July 2009
Office automation company Kyocera Mita South Africa has announced a black economic empowerment (BEE) deal that will see 15% of the company being transferred to Nozala Investments and a further 20% being split equally between a trust for Kyocera Mita’s black employees and an executive retention trust.
The Kyocera Mita Corporation of Japan will continue to hold a 65% share in the company.
“We are one of the very few office automation companies in the country that are a subsidiary of the manufacturer with direct representation,” Kyocera Mita South Africa director Wayne Holborn said in a statement this week.
“Kyocera Mita Corporation has taken the forward-looking decision to enter into a direct ownership transaction in support of local empowerment, rather than enter into an indirect empowerment arrangement.”
Focus on women empowerment
Nozala Investments is one of the country’s longest-established empowerment organisations, with a 13-year track record and a firm focus on black women’s empowerment.
Holborn explained that criteria included in their search for a partner included that the company should be black-owned and, preferably, owned by black women; that they should have a solid track record and familiarity with the industry; and that they should be able to add real value to the business.
“Nozala Investments scored well on all the above, and we look forward to a lasting relationship that will create great opportunities for all parties far into the future,” he said.
Training and skills development
According to the statement, the deal focuses on training and promotion of black staff, and fits well with the company’s ongoing commitments, as evidenced by existing programmes in executive and skills development and social responsibility – such as support for the Potter’s House Training Centre in Soweto.
“In terms of the BEE scorecard, this puts us on Level 4,” Holborn said. “This is a great opportunity for our company to expand in all markets and make further contributions towards transformation by working with our dealers to help them meet BEE standards.”
The immediate advantage for Kyocera’s dealer channel is that their purchases from the company now meet government BEE compliance requirements.
A ‘local company’
Nozala Investments director Lorato Phalatse said the group had always been looking for an opportunity to enter into the office automation sector, and the deal gave them a chance to do so with a well-established, truly global player.
“Another plus is that Kyocera Mita South Africa is a local company, run and managed by South Africans. We are confident that, with our reputation in both private and public sectors, we can add value by supporting Kyocera’s growth across all local markets.”
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