ON 9 NOVEMBER CJP Chemicals successfully concluded a transaction with Khulasande Capital which saw the black-owned and controlled investment holding company acquire a 10 per cent shareholding in the South African chemicals supply company.
Stephen Loxton, MD of CJP Chemicals, comments: ‘The transaction and new partnership signifies our continuous commitment to the company’s role as a corporate citizen in South Africa. It is also set to ensure the ongoing success of CJP by placing the company in a stronger position to better service the needs of our customers and stakeholders.’
Khulasande Capital is headed by founder and CIO, Sthembile Nkabinde, who will be represented on CJP Chemicals’ board. Nkabinde’s company is dedicated to the growth of South African businesses through broad-based black economic empowerment (BBBEE). The majority of the returns made by Khulasande Capital are utilised to contribute to the advancement of previously disadvantaged individuals through education and entrepreneurship.
Nkabinde comments: ‘The investment in CJP is in line with our mandate of investing in solid businesses with strong management teams to ensure that we ultimately benefit one of Khulasande’s most significant stakeholders – our educational and entrepreneurial beneficiaries.’ As a BBBEE vehicle with the backing of one of the most prominent investment firms in the country, the investor brings a highly competitive advantage to CJP Chemicals.