A NEW black empowerment deal has been clinched in the logistics industry. BEE investment company, the Keodirelang Group, has acquired a 25.1% stake in the South African arm of Japanese global logistics major Kintetsu World Express (KWE) for an undisclosed sum. Keodirelang, a newly-formed strategic investment company specialising in empowerment transactions, includes Khusela Women’s Investments and Madala Mthembu, CEO of Tennant Africa – a black-owned commodities & logistics company – as well as Kgosie Matthews, grandson of ANC stalwart Professor ZK Matthews. “We see a particular opportunity in the logistics sector, where black economic empowerment has been slow to take off. “We will be playing a role in providing strategic direction and accessing new opportunities, while at the same time consolidating KWE’s existing market share in South Africa.” KWE South Africa’s key business areas include general logistics and specialised freight forwarding and customs clearing services.
