South Ocean’s BBBEE status comes down to the wire
Electric cable manufacturer forced to beef up its empowerment status to snag more government tenders
Low black economic empowerment levels have caught up with Alberton-based electric cables manufacturer South Ocean Holdings (https://www.sharenet.co.za/v3/quickshare.php?scode=SOH).
The company, which traces its roots to King William’s Town in the Eastern Cape, must hurriedly conclude an empowerment transaction in unfavourable market conditions.
South Ocean’s subsidiary South Ocean Electric Wire Company manufactures electrical cables mainly for the building and construction industry. Its other subsidiary is Anchor Park, a property investment company...