As we head into the final year end stretch and the usual mad rush to get everything finished before the December break, I thought I would give you a brief update on developments at Kemtek.
I’m delighted to advise that the corporate transaction, which gives effect to the shareholding of Kemtek, has now been finalised. This means that the effective shareholding is as follows:
SAFIKA – 33,3%
TADVEST – 33,3%
GENCORE – 33,3%
All of our shareholders are committed to the long term sustainable growth of Kemtek, its customers and Brand Principals. Our shareholders are directly involved in the business and are committed to ensuring that value is added to all of our business partners.
At Kemtek, we are passionate about the transformation of the business and are fully aligned to the country’s overall transformation agenda. We are excited to have Safika as one of our major shareholders. Besides their immense contribution as both shareholders and board members, their shareholding adds immense weighting to our BBBEE credentials. Having significantly ticked the ownership box, we can now shift our focus to the other priority elements of skills development, enterprise development and procurement.
As many of our customers and Brands are aware, the past two years have borne witness to many old familiar faces disappearing from the business, to be replaced by new ones. Staff attrition, like a law of nature, is almost guaranteed during periods of organisational renewal. The current changes occurring within Kemtek were inevitable and one can reasonably argue that for many years leading up to the present, Kemtek had lost much of its agility and was unable to keep up with the forces affecting the business. We are determined to position Kemtek as a world-class distributor of leading brands, which are relevant and add value to our customers. We believe that you, our valued customers and Brands, would expect nothing less.
We do ask for your patience during this renewal phase, but expect you to be no less demanding in what you expect from us.
For most businesses operating in South Africa, the current market conditions are tough, and survival, let alone growth, is top of mind. We spend a lot of time communicating with our Brand Principals about conditions in South Africa and they do understand and are sympathetic to these challenges. If the current challenges are looming large in your business we are more than willing to work with you to find solutions where we can. Please do not hesitate to contact us.
I hope you have found this update informative. I would like to communicate more often in future to keep you abreast of developments within the Kemtek product portfolio, solutions for your business and happenings within Kemtek. I’m extremely conscious of information overload and will endeavour to keep my updates short and sharp.
Leon Kruger
CEO
