KSB Pumps and Valves has become the first OEM pump manufacturer in South Africa to obtain Level 1 B-BBEE certification.
This follows the purchase of a 30 percent equity stake in the company by the black female-owned Insikazi Synergies, a company with four businesswomen shareholders including Nonhlanhla Ngwenya, Matshepiso Finca, who have joined the board to play an active role in steering the company in future.
Managing director of KSB Pumps and Valves, Dr Sven Baumgarten, says, the deal is a first for the multi-national KSB Group , a German company which operates through subsidiaries around the globe.
'Achieving Level 1 B-BBEE Status has marked a significant milestone for us and is evidence of our philosophy of operating globally and thinking locally. For us, transformation is not only a strategic imperative for operating in this market, but something we embrace as a company that will soon celebrate 60 years of operating in South Africa. We are proud to be the first pump and valve Original Equipment Manufacturer (OEM) to achieve Level 1 B-BBEE status.
'Our heritage in South Africa started in the 1920s and since then has continued with manufacturing of high-quality products from our modern manufacturing, sales and serving facilities across the country. Our evolving growth story locally is interwoven within the fabric of South African life and we are fully committed to transformation for the betterment of all.
'Over the years KSB Pumps and Valves in South Africa has grown to employ over 500 staff and a turnover of nearly one Billion Rand. We are poised for further growth in South Africa and in Sub-Saharan Africa and look forward to continuing our long and fruitful partnership with local business and Government,' Baumgarten concludes.