BEE partner for ITWeb

March 5, 2008
A 25.1% stake in ITWeb has been acquired by Ummango Investment Holdings, a women's broad-based BEE consortium financed by Mvelaphanda Holdings (Mvela Holdings), it was announced this morning, Wednesday, 5 March 2008. The technology media company publishes a technology news website, four magazines and a series of annual publications, and owns related businesses within its chosen space.
"We are fortunate to get such a well-established and well-resourced BEE group as our empowerment partner," says Jovan Regasek, founder and CEO of ITWeb Limited. "We are acquiring significant empowerment credentials and a long-term, supportive BEE shareholder, committed to growing the business."

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