Forwarding major clinches BEE deal

ALAN PEAT
A MAJOR player in the SA freight forwarding industry has sold a shareholding to a black empowerment consortium.
Danzas AEI (trading as DHL Danzas Air & Ocean SA) has sold 20.51% of its equity to a consortium led by African Legend Investment Limited (ALI) – and including Mahogany Capital, a women’s empowerment group.
The value of the equity purchase was not disclosed.
Announcing the partnership, DHL Danzas sub-regional director southern Africa, Daniella De Pauw, said the deal represented “a unique opportunity” to transform the company and “establish a solid platform for ongoing development in a market with huge potential”.
African Legend Logistics was founded in 1996 as a broad empowerment organisation. It focuses on investing in opportunities that have the potential to generate annuity income and immediate cash flows, according to chairman Tommy Oliphant, while offering long-term appreciation of the inherent value of the investment.
It operates in four sectors – energy, financial services, information and communications technology (ICT) and logistics.