Pragma solidifies commitment to black women empowerment with Moshe Capital deal
We are thrilled to announce that Moshe Capital (a 100% black woman-owned company) has acquired a 20% shareholding in Pragma. This move solidifies our commitment to broad-based black economic empowerment and supports our mission of creating sustainable solutions for our clients. This transaction makes Pragma 31.4% black woman-owned and 56.8% black-owned.
“Moshe Capital prides itself in partnering with African businesses that can play on an international stage and have global standards whilst promoting inclusive prosperity. Pragma embodies these attributes as a leading player in enterprise asset management,” says Mametja Moshe, CEO of Moshe Capital.
Mametja further explains that Moshe Capital has included Pragma in its investment portfolio due to its leading position in enterprise asset management and shared values and vision. The investment firm plans to contribute its mining, strategy, and finance expertise to add value to us, Pragma, as an active investor. Moshe Capital wants to grow Pragma in partnership with management and other shareholders, particularly within the mining industry, as the company continues to lead globally and digitise South African companies.
The transaction was made possible through FNB’s Black Business Growth Funding (BBGF) Transformational Equity Initiative, which aims to drive economic transformation. You can read more about the FNB investment on Business Live and Biz Community.
“From the outset, when the South African government-initiated business reform, we were keen to help transform the business landscape and give previously disadvantaged South Africans the opportunity to enter and thrive in business,” says Adriaan Scheeres, our chief executive officer.
“If you want to go fast, go alone; if you want to go far, go together.” African Proverb
“We have seen that diversity increases strength and leads to better outcomes. Cultivating a team of people with shared values, albeit from different cultural backgrounds, enables organisations to look at a challenge from different perspectives and ultimately aids in developing better solutions. It is a competitive advantage many companies aspire to.” explains Adriaan.
Pragma has actively been driving economic transformation through organic means such as training, coaching and hiring, and they continually seek opportunities to amplify their impact in these crucial areas.
“To support our strategy, we were searching for a forward-thinking partner who can support our innovative work in transforming enterprise asset management, comparable to what we found in the Reatile group,” adds Adriaan.
The ideal partner should share your passion and values and have the desire to see the partnership grow. Moshe Capital has demonstrated that it is such a partner beyond our expectations. Pragma is eager to join forces with Moshe Capital to create opportunities for black women in the enterprise asset management industry.
Like Pragma’s partnership with the Reatile Group, Pragma is excited about Moshe Capital’s active involvement and joint initiatives in the local and global markets.
The world, particularly Africa, urgently needs to address the expanding shortfall in maintenance and asset management in various industries. To effectively address this challenge, it is vital to embrace diverse thinking and increase the participation of women. This will enable our organisation better to support the pursuit of a more sustainable world.
Pragma has the advantage of being strategically placed to revolutionise asset management through its investment in cutting-edge technologies. These technologies can significantly improve how assets are managed in demanding industries and state-owned enterprises such as Eskom, Transnet, hospitals and local governments or municipalities. “Our main aim is to use digital technologies as a disrupter in our value-adding solutions. We believe that female engineers can play a major role in the design and implementation thereof,” adds Adriaan.
Some of Pragma’s proudest achievements include uplifting several small black-owned maintenance contractors working on Pragma’s projects by training, equipping them with the required skills and supporting their growth.
“Together, we will build a better future. What we do, makes the world better.” concludes Adriaan.