Executives of SA's leading exhibition organiser have negotiated an empowerment-led management buyout of the UK-based Reed Exhibitions for an undisclosed sum. Spearheaded by former Reed Exhibitions MD, Jo Melville, the buyout will see over 60% of the shares in the new entity - Exhibitions for Africa - in the hands of historically disadvantaged individuals (HDIs). In addition, all staff members are also shareholders in the company.
Exhibitions for Africa hosts a number of leading business to business events, with significant international participation, on an annual and biennial basis. These include Securex,Computer Faire, Tel.Com, Afribuild/Afriwater, Hostex/Contract Furnishing, the KwaZulu Natal, Western Cape, and Eastern Cape Industrial Trade Shows and the Blue IQ Smart Industry Expo.
Zeth Malele remains as Chairman, Melville retains her position as MD, Dev Naidoo remains commercial director. Aldean Prior and Lynn Chamier become executive directors. Other directors are Ntombi Langa-Royds, Dr Roy Marcus, Masedi Molosiwa and Talib Sadik.
Commenting on the deal Melville says it is business as usual. "All our events are 100% SA-owned and profitable. Exhibitions for Africa will seek to develop its market leading events in such a way as to parallel the key goals and initiatives of the South African government. Our vision is to solicit broader stakeholder support and cooperation to drive increased trade, grow inbound investment, and make a significant contribution to job creation.
"With our strong empowerment credentials and strategic value of our shows, we are well positioned to achieve this," she explains and points out that the company has already embarked on a marketing drive into Africa. "There has been increased interest from Africa with a number of delegations and business people visiting our shows.
"And because our events are targeted at niche industries such as security, water, hospitality and tourism, IT and telecommunications, infrastructure, manufacturing and transport and building, they are perfectly positioned to play a role and indeed contribute to NEPAD's success," Melville concludes.
For more information, contact Jo Melville, Exhibitions for Africa, 011 886 3734.
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