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Tongaat tackles Woollam, explains why rights issue is critical, and says the company does not have the luxury of time to reduce this debt.

L-R: Shamy Naidu, executive director; Thulani Dumakude, group head rights and development and Mzi Deliwe, deputy CEO] In September it will be five years since Provantage Media Group and Outdoor Network announced the merger of their respective out of home media operations, making the coming months a good time to reflect on the journey that ON has taken with PMG and how it has impacted transformation within the South African OOH sector. At the time of that significant transaction in 2016, the balance of the shares in Outdoor Network were held by Sanlam Private Equity, but the final piece in the...

Changing the status quo for women working in the production side of the advertising industry is at the heart of new company launched by the DUKE Group this week. Duchess is a 100% black female-owned, Level 1 B-BBEE-compliant, full-service production facilitator. In the words of DUKE CEO, Wayne Naidoo, it is “a powerful, female-owned and managed business that exists to meet the production, media, social, economic and cultural landscape”. Headed by 25-year production stalwart, Nino Naidoo, Duchess addresses what she calls “a lack of female talent in our industry”. “For as long as I�...

Accrediting fronting firms hampers BEE's good intent SIBUSISO MTSETFWA"> By SIBUSISO MTSETFWA - 19 April 2021 - 07:57 I recently came across a “transformed” 51% black-owned company that flashed its level 2 broad-based BEE  (B-BBEE) credentials to all and sundry as it stood at the front of the tender line, successfully winning and retaining contracts with large corporations it did business with before its “transformation”. I say “transformed” because on closer investigation the company’s status was found to come from a 51% shareholding held by a “creatively” regist...