07 Oct Point concludes B-BBEE Transaction
Point, South Africa’s leading provider of outsourced print and marketing materials procurement services, announced today that it had restructured its South African business and sold 30% of the new entity to Tanya Reddy, the current Chief Operations Officer of the Group.
Ms. Reddy, who grew up in a printing family in Durban, has 19 years of professional experience in the industry, and founded POINT with Gary Davies, the group CEO, in 2007. Since that time the business has grown rapidly from a small two-person team to a multinational group that manages over R1 billion of procurement through an extensive footprint in Africa Middle-East.
We are very pleased to become a 30% BWO company through this deal with a co-founder and executive of the business,” said Davies. “Tanya will remain in her group executive role, in addition to her role as a Director of the South African operating company.
Reddy commented that “I am very excited about the opportunity, but this doesn’t change anything in my day-to-day job. We will continue to focus on growth through delivering savings and quality service to our clients in South Africa.”