Elliott Afrovan media release
15 September 2008  
For immediate release

Elliott Afrovan has become the first major moving company to gain a substantial BEE shareholding following the acquisition of 26% of its equity by Phakathi Investment Holdings represented by Tshepo Phakathi.

Charles Luyckx, joint CEO of Elliott Afrovan says the company, founded in 1947, is a substantial business with over 700 employees, a large branded truck fleet and nationwide infrastructure. It services both corporate and private markets locally and beyond the country’s borders. Elliott Afrovan has had a longstanding commitment to Broad Based Black Economic Empowerment which is reflected in its rating as a Level 1 contributor to BBBEE.

According to Luyckx, Phakathi was a natural choice as a partner. “We have worked with Tshepo for several years developing this BEE initiative and have the highest respect for his knowledge and experience in BEE matters.  As a director he will be actively adding value and leading the company’s new business drive both in lobbying government and growing the corporate market,” he says.

Phakathi comments: “Phakathi Investment Holdings is excited to be a part of Elliott Afrovan, which will certainly be a jewel in our investment portfolio. The transport sector is not famous for its colourful empowerment credentials, which makes this deal one of the flagships within the sector. I am looking forward to working with the existing management team and taking the moving industry to its pinnacle.”

Luyckx says that in the past 12 months his company has noted increased movement of corporate staff both in and out of South Africa.  “A significant number of people are coming into South Africa on contract and South African companies are also increasingly investing in Africa and abroad. South African specialists like mining engineers are undertaking tours of duty to get experience abroad as part of the globalisation trend, not necessarily as emigrants”, he says.

Notes to editor:
1. Elliott Afrovan employs over 700 people in Johannesburg, Bloemfontein, Cape Town, Durban, East London, Nelspruit, Polokwane, Port Elizabeth, Pretoria, Richards Bay, Saldanha Bay, Francis Town (Botswana), Gaborone (Botswana), Lusaka (Zambia), Maputo (Mozambique) and Matsapha (Swaziland).

2. Elliott Afrovan is the only moving organisation in South Africa to have achieved ISO 9001:2000 Quality Management Certification and ISO 14001 International Environmental Certification.  It is a member of OMNI (Overseas Moving Network International), the most important world international moving network, membership of which endorses excellence and professional service. It is also a FIDI Accredited International Mover and long-standing member of several national and international moving organisations. www.elliott.co.za

3. Tshepo Phakathi is CEO of Phakathi Investment Holdings.

4. Issued on behalf of Elliott Afrovan by Avril Mills of North & South PR.  For photographs, interviews and further information, please contact Avril on avril@northandsouthpr.com or 011 465 3130/082 782 7991.