MSC takes on BEE partners Orlyfunt Holdings acquires ‘meaningful stake’

TERRY HUTSON MEDITERRANEAN SHIPPING Company (MSC) has clinched a BEE (black economic empowerment) deal with a number of heavyweights in black South African business circles, including a degree or two of political clout. The announcement, made as this issue went to press on Monday morning (May 31), reveals that newly-formed investment holdings company, Orlyfunt Holdings, has acquired a meaningful stake in MSC (Pty) Ltd, which has offices in Durban, Johannesburg, Pretoria, Cape Town, Port Elizabeth and East London. The directors of Orlyfunt Holdings include prominent businessman and former Transnet CEO, Mafika Mkwanazi, as well as the former ambassador extraordinary and plenipotentiary to France, Thuthukile Skweyiya. Skweyiya is currently the director-general of the Department of Foreign Affairs with responsibility for Europe. The other directors of Orlyfunt are Sello Rasethaba, CEO of Matodzi Resources, MP Andrew Mlangeni, and Cape-based businessman Lunga Ncwana. Mkwanazi becomes a non-executive director of the company with immediate effect. “We’re proud to be involved with a company with such global presence and unparalleled network and service level,” he said. According to Mkwanazi, Orlyfunt used its own resources to acquire the equity within MSC South Africa, including the subsidiaries MSC Logistics and MSC Depots. The latter two companies respectively operate a cartage and carrier haulage division and custom bond container depots in the major SA ports including City Deep. Captain Salvatore Sarno, MD of MSC in SA and a member of the MSC Swiss Board, said that MSC, in commemorating the 10th anniversary of democracy in South Africa, had decided to show once again its full commitment and participation in the development of SA.