Sebata Group Holdings and its wholly owned subsidiary, MICROmega H2O, have entered into a share sale agreement with Inzalo Capital Holdings. According to the agreement, Inzalo will acquire 60% of the issued share capital in Sebata’s Water Group companies, namely USC Metering and Amanzi Meters.
In entering into this agreement with Inzalo, Sebata will substantially improve the empowerment credentials of its Water Group. USC Metering and Amanzi Meters now qualify as Black Industrialist businesses in terms of the Department of Trade and Industry’s Black Industrialist Policy (BIP).
According to this policy, a black industrialist is a black South African or a black-controlled business which provides strategic and operational leadership to a manufacturing organisation. The policy aims to measurably expand SA’s industrial base, grow the economy and develop the export potential of locally made products.
Inzalo Capital Holdings is led by Sihle Ndlovu and Sbonelo Mazibuko, who will jointly oversee the companies’ collective commitment to the BIP and to the broader water crisis.
Says Ndlovu: “USC Metering and Amanzi Meters can impact global communities, not just those in SA. We’ve learned from experience, as water scarcity was brought into sharp focus last year with Cape Town almost declaring Day Zero. The world paid attention to this near disaster and the weight of our responsibility became clear: we have to help tackle the world’s water crisis.”
Adds Mazibuko: “Water conservation is becoming a focus for global governments. The BIP identifies clean technology and energy and agro-processing as being among its priority development areas. These are also key focus areas for us. It’s a great responsibility that we’re excited to take on by leveraging our world-class solutions and ongoing innovation in the water technology space.”
USC Metering is an industry leader in remote-communicating electronic water management devices and Standard Transfer Specification prepayment devices. It offers Sebata's global customer base access to smart digital technology for water metering.
Amanzi Meters designs, develops and manufactures a range of products for water management reticulation, including plastic water meters, ball valves and meter boxes. All products are SANAS-accredited and manufactured in an ISO-rated facility.
“USC Metering and Amanzi Meters are entering a new dawn,” says Sebata Water CEO Russell Dick, “where continued innovation in digital water technologies will help to encourage responsible usage. We’re confident that Inzalo is the right partner to grow these businesses so that our smart water technologies and continued innovation in water management can have an even greater impact.”
The transaction is effective from 1 August 2019. It is subject to board, shareholder, statutory and regulatory approvals.
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Sebata:
Sebata Holdings Limited (SEB) is a holding company listed on the main board of South Africa’s JSE, with controlling interest in a number of subsidiaries. These subsidiaries are grouped into four operational divisions; namely, water technologies, software solutions, consulting, and ICT support services. Formerly MICROmega Holdings, Sebata has earned a reputation as a partner of choice, an investment of choice, and an employer of choice, as well as a leader in our markets.