acsis broadens its BEE shareholder base
acsis, a leading independent asset consulting and financial planning company, is pleased to announce that it has concluded a number of agreements that have broadened its shareholder base. The new shareholders represent a wide range of black individuals, including staff and a broad based empowerment trust.
Through these agreements, 5% of acsis will be owned by a black staff share trust; 5% by Khanyisa Empowerment Trust; and a further 8% of the business will be owned by Dr Frene Ginwala (deputy chair of the acsis board), Nku Nyembezi-Heita (non-executive director), Phillip Dexter and Dines Gihwala.
At acsis, we are committed to building our business while also ensuring transformation within our sphere of influence. These agreements are part of this process, says Andrew Bradley, chief executive officer of acsis.
Commenting on the new partners, Bradley explains that each of the four new individual shareholders have had long-standing relationships with acsis and bring with them unique value to add to the business. With Dr Ginwalas expertise in the areas of governance, strategy, empowerment and transformation; Nku Nyembezi-Heitas impeccable track record and extensive knowledge within the broader financial services industry; Phillip Dexters understanding of organised labour and his transformation and empowerment experience; and Dines Gihwalas legal and corporate governance expertise together with his valuable corporate insights, we have broadened our sphere of influence and network. We are also confident that we have selected partners who share our vision of building our business the right way and facilitating transformation, he says.
According to Bradley, the acsis Black Staff Share Trust was set up to provide for the empowerment and upliftment of black staff within the business. We have an existing long-term staff share scheme in place and the share trust will work in a similar way, he says.
The purpose of the Khanyisa Empowerment Trust is to provide funding and resources for broad-based empowerment and upliftment initiatives for previously disadvantaged individuals and groups. The focus of the trust is predominantly on youth and women with specific attention on education, financial literacy, sporting and cultural activities. We believe that with this focus, and our association, the trust will make a meaningful contribution to the lives of many people, Bradley explains.
Bradley further explains that acsis will utilise the Khanyisa Empowerment Trust as the cornerstone for its various CSI initiatives and skills development programmes, creating further synergy between the company and the trust.
With the new shareholders in place, the total BEE shareholding of acsis now stands at 23%. The additional BEE shareholding is held via Purple Capital, a JSE listed financial services company. Some of the significant shareholders in Purple Capital include Mark Barnes (acsis board chairman), Cape Empowerment Trust, Umnombo and Dihold, the investment vehicle of Denosa (Democratic Nurses Organisation of South Africa).
