A South African consortium this week launched a new majority black-owned equities brokerage.
Macquarie Group, together with a South African consortium (including Mazi Holdings, AWCA Investment Holdings, AMB Holdings, some Macquarie senior management and a BEE senior staff trust), has successfully completed its transaction to become Mazi Macquarie Securities, a new majority black-owned and female-led enterprise.
Fawzia Suliman, CEO of Mazi Macquarie, said:
“Mazi Macquarie is strategically positioned to become the market-leading black-owned equities brokerage business in South Africa. We are delighted to partner with consortium members who share our vision to contribute meaningfully to true Broad-Based Empowerment and female leadership in South Africa.”
Malungelo Zilimbola, Mazi founder, said the partnership represents a deal among equals and drives much-needed transformation across the financial services sector. He said: “For BEE deals to be successful, they should be true partnerships bringing together people from different backgrounds and cultures. Mazi Macquarie is a great example of a company using its diverse people and unique offering to secure the longevity and success of a South African business.”
According to Gugu Sepamla, Chair of Mazi Macquarie and Non-Executive Director for AIH, the company will have a strong focus on talent development. Sepamla said:
“The aim is to develop a strong pipeline of talent for the financial services industry. There is no question there is local talent out there that needs to be given the opportunity and we have the right partners on board with the skills to provide this in the stockbroking space.”