Velocity Films forms BEE deal with Mamawood

Production company Velocity Films has entered into a BEE deal with Mamawood (Pty) Ltd, a company co-owned by Oyama Mabandla, the executive chairman of corporate investment company the Langa Group and Vodacom, and Mrs Nthopele Mabandla. Mamawood now owns a twenty six percent equity stake in Tenacity Films (Pty) Ltd, which trades as both Velocity Films and Freshwater Films. The company has been rated by Empowerdex and gives the company a rating of one hundred and six percent of the maximum ownership score.