Secureco announces empowerment deal

September 2002 News

Secureco Holdings recently announced the introduction of black economic empowerment company Mvelaphanda Strategic value adding shareholder in the company. Mvelaphanda Strategic Investments has acquired a 26% stake in the company for an undisclosed sum. The company employs in excess of 5000 people.

Secureco is one of the leading security companies in South Africa focusing on guarding, cash in transit, armed response and surveillance technologies. The company was established in 2000 by ABSA Corporate and Merchant Bank and Prime Africa Investment Limited (PAIL), a Singapore-based consortium. This purchase of 26% in Secureco by the empowerment consortium will expand the company's business within the industry, and, at the same time, fulfil the company's commitment to Black Economic Empowerment (BEE) in South Africa.

"We are responding to the need for empowerment in this industry by selecting Mvelaphanda as our partner," said John Main, CEO of Secureco. "We believe Mvelaphanda to be a genuine BEE partner with a spread of shareholding that represents financial stability, substantial critical mass and is well respected as a true empowerment operation. Mvelaphanda is involved in a number of industries including resources, telecommunications, property and transport, all of which require security services."

Hamilton Mangase, the appointed representative from Mvelaphanda, said: "Extensive research into the industry showed Secureco to be a leading security company and a candidate for significant black economic empowerment transaction whereby a commercial return can be generated for all stakeholders."

For more information: John Main, Secureco Holdings, 011 531 4000,

Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

New hires at iPulse
Issue 7 2020, iPulse Systems , News
iPulse has welcomed two new employees into its ranks. Shai Weil has been appointed as operations director, while Corneli Botha is the new customer sales liaison.

HID Global acquires Access-IS
Issue 7 2020, HID Global , News
HID Global acquires provider of miniaturised reader devices that combine key technologies for mission-critical markets.

Securing digital transformation
Issue 7 2020 , News
Schneider Electric partners with Fortinet to strengthen ability to secure operations across the business lifecycle and unlock the advantages of a secure IIoT.

Suprema integrates with Paxton’s Net2 access control
Issue 7 2020, Suprema , News
Suprema has announced it has integrated its devices with Paxton’s access control system, Net2.

Free cybersecurity courses
Issue 7 2020 , News
Check Point Software partners with Harvard and MIT-founded edX to deliver free online courses to help close the cybersecurity skills gap.

Fidelity partners with Auto & General Insurance
Issue 7 2020, Fidelity Security Group , News
Fidelity Services Group in partnership with Auto & General Insurance has launched Fidelity InSure, a comprehensive vehicle, home, and building insurance offering.

More apps for open camera OS
Issue 7 2020 , News
The App Challenge will result in 21 new apps running on the Security & Safety Things’ camera OS, based on the Android Open Source Project.

Milestone Systems announces Thomas Jensen as new CEO
Issue 7 2020, Milestone Systems , News
Milestone Systems announced that its board of directors has appointed Thomas Jensen as chief executive officer. Jensen will assume the role on October 1, 2020.

Suprema announces its first virtual event
Issue 7 2020, Suprema , News
Suprema will be hosting its first virtual event, Suprema Connect 2020, which is scheduled to take place over one month from September 15.

From the editor's desk: Waiting for PoPI
Issue 7 2020, Technews Publishing , News
A while ago we heard of yet another cyber breach, this time from Experian.