Subtech South Africa completes major B-BBEE transaction in marine economy

Subtech 30 MarchSubtech South Africa (Pty) Ltd, a subsidiary of innovative marine solutions provider James Fisher Subtech, has completed a major Broad-Based Black Economic Empowerment (B-BBEE) transaction, transferring a 51% stake in the business to South African Tacenda Consulting (Pty) Ltd and Thembani Shipping (Pty) Ltd

Tacenda Consulting is 100% owned by black female.

This transaction marks a major milestone in Subtech South Africa’s transition to become a proudly black-owned and managed South African marine services company specialising in marine construction, diving, survey, non-destructive testing and salvage.

Nomkhitha Mbele, director at Subtech South Africa, said, “Our clients can now benefit from our full suite of services backed by our industry-leading expertise and highest safety standards, whilst at the same time supporting a black-owned business and honoring local procurement commitments. This is a powerful example of what can be achieved through meaningful Broad-Based Black Economic Empowerment, which is crucial for equitable growth in South Africa.”

Giovanni Corbetta, managing director at James Fisher Subtech, commented, “South Africa has long been one of our key markets, based on its geographic location and growing marine economy. The conclusion of this transaction is part of our vision to achieve transformation and grow Subtech South Africa in a meaningful and sustainable way.”

“It was crucial for us that this was more than just a transaction and that it was done meaningfully and with the right partners, which we have found in Tacenda and Thembani. As a result, we are proud to have partners that strengthen the business with their industry experience and networks, and who will add real impetus to our ongoing transformation initiatives,” Corbetta added.

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