Octagon changes shape

The shareholders comprise: Soto Ndukwana; Saki Macozoma; Sifiso Buthelezi; Thami Sibiya; Khehla Shubane and Qondisa Ngwenya, deputy group MD of Octagon SA, with Ndukwana as chairperson of the consortium.

Octagon group managing director Chris Bruwer, says: "The individuals that make up this consortium are all businessmen with relevant industry expertise and who we believe can add real value to our business for the benefit of our clients, staff and shareholders. Their insight into the workings of the new South Africa from both a business and consumer perspective will play a major role in our efforts to ensure Octagon's relevance in the current market."

Ndukwana says: "Octagon is the number one sponsorship and event marketing company in South Africa handling the industry's top events like the Coca-Cola Cup and blue chip clients such as MTN, Engen and Old Mutual, the timing is certainly right for us to take it to the next level through equity participation and the opportunities thereafter are unlimited."

Octagon is part of the Interpublic Group of Companies and is listed on the New York Stock exchange. In South Africa, Octagon employs over 90 people throughout its three offices in Cape Town, Johannesburg and Durban.