Itec signs massive community-based BEE deal

August 6, 2008
Office automation giant Itec Holdings has concluded a broad-based black economic empowerment deal with Ikamva Labantu Empowerment Trust, a broad-based investment vehicle for a non-governmental, non-profit organisation that works with community-based organisations serving children, youths, the elderly and the disabled.
In terms of the deal, Ikamva Labantu holds a 50.1% share of Itec, enabling it to benefit from the multimillion-rand company's dividends in perpetuity.

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