Vuma sells 51% stake to exec team
Vuma Reputation Management has concluded a BBBEE transaction with three members of the company’s executive team. As a result, the company is now 51% black-owned and 30% black female-owned.
Tshepo Sefotlhelo, executive director of operations, Palesa Madumo, executive director of strategy, and Kgomotso Moalusi, executive director of client centricity and media, have acquired the 51% stake through a loan provided by Vuma Reputation Management. The debt will be repaid from dividends generated by the company.
The company is a reputation management, crisis communications, stakeholder management, media relationship management and training agency. Founded in 2005 by Janine Hills, it has provided advisory and consulting services to at least 50 JSE-listed companies.
Sefotlhelo says, “As shareholders, our goal is to double the size of the business in the next three years through acquiring long-term clients and growing existing business. We also see huge potential for new opportunities on the rest of the continent, where we have affiliates that we will collaborate with to secure new business.”
Moalusi said she is honoured to be a black female investor in a slow-transforming sector: “As a black African female reputation management and communications professional, I believe the sector requires fast-tracking, from a black ownership perspective; therefore, this deal will certainly assist in the journey to levelling the playing field.”
Hills, as founder and managing director, will continue to provide leadership and expertise to the company.