KWE in BBBEE joint venture

The global logistics company, Kintetsu World Express (KWE), has just announced a joint venture with local black-owned freight forwarding group, MSASA. This follows months of negotiations between Kintetsu, Japan and MSASA, according to Arend du Preez, MD of KWE in SA. The new venture company will be trading as KWE MSASA. The joint-venture initiative will run independently as a parallel business with KWE in SA. The board of directors is George Khumalo as chairman and Joe Mnisi and Papilele Matlaila (all founders of MSASA in 2009) as directors, with the addition of Du Preez and Ikuhiro Hojo of KWE SA.