Subscriber login Close [x]
remember me
You are not logged in.

KWV Black Empowerment deal completed

Published:  23 July, 2008

The KWV Black Empowerment project launched last year has been completed, with 25.1% of the company's shares now belonging to the Phetogo consortium.

Two senior members of Phetogo - which consists of seven black associations representing interests as diverse as farmers, liquor sellers and KWV workers - will now sit on the board.

Danie de Wet, KWV's chairman, said: The positive outcome of the Phetogo transaction proves that South African wine farmers regard empowerment and transformation as necessary and meaningful. The partnership is now positioned to add value for all stakeholders, who will benefit from the new ownership profile of the company in the long term