Resources Correspondent
SPECULATION is brewing as to the composition of an Aka Capital-led empowerment consortium which is working on a deal that may see it buying a stake in Kumba Resources.
The deal is based on a black economic empowerment group which will include Eskom chairman Reuel Khoza and Moss Mashishi, who was part of a group last year which included Graça Machel and Wendy Luhabe that bought a 20% stake in advertising firm Ogilvy & Mather Rightford. Tony Ruiters, who heads Northern Cape Resources, is also involved. It is also expected that a women's group will make up part of the broader-based empowerment core. Well known MTN director Irene Charnley and Industrial Development Corporation chairperson Wendy Luhabe are speculated to be key players.
Neither Charnley or Luhabe could be contacted for comment.
Khoza, when asked if Charnley and Luhabe may be involved in any women's grouping which may be part of any final deal, said he could not speak for them.
An empowerment consortium led by Tiso holds 5% in Kumba. Khoza said the transaction was still "very brief" and said there was nothing to announce as they were working on formulating the deal. Ruiters confirmed women's groups would be part of the consortium.
Jun 19 2003 06:10:46:000AM Julie Bain Business Day 1st Edition
Thursday
19 June 2003
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