RNS’s winning BBBEE empowerment deal
On 23 May 2016 Shalamuka Capital acquired a 40% share in Radio Network Solutions (Pty) LTD (RNS). Shalamuka Capital is the Black Economic Empowerment (BEE) investment channel that emerged as a result of the collaboration between Rand Merchant Bank (RMB) Corvest and the Shalamuka Foundation.
Says Graham Diss, RNS Managing Director: “The transaction with Shalamuka will enable RNS to continue operating as a black empowered company. Both Shalamuka and RMB Corvest will add value to RNS respectively and through their portfolio of Group Companies.”
Shalamuka is a Broad-Based BEE provider of private equity for mid-sized management buyouts, leveraged buyouts, development capital and funded BEE solutions. It partners with, and invests in sustainable, non-listed companies and businesses that demonstrate future growth potential to raise funding for its own ventures and investments.
“RNS is proud that we can continue to support BBBEE and the increased participation in the economy and transformation thereof. We look forward to our long-term partnership with Shalamuka Capital.”
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