The real BEE deal for Interbrand Sampson

Interbrand Sampson has appointed Victor Rangaka as its Strategic Director and an initial 15% equity owner. Rangaka has an impressive list of credentials in the branding industry, working for some of South Africa's top brands in South Africa, Africa and internationally.

He joins Interbrand Sampson from British American Tobacco, where he was Brand Director.

Jeremy Sampson, CEO of Interbrand Sampson, explained why it took a long time to find the right partner: "We made a conscious decision that we would not simply 'window dress', as so many of our competitors have done. Selling a chunk of the company to an individual or group purely on the basis that they are black, but have little or no ability to be involved in and add value to the business, is not only degrading both black South Africans, but defeats the purpose of black economic empowerment in its entirety.

"We were determined to wait as long as it took to find somebody that is a seasoned, respected and highly capable branding professional who can realistically carry the company into the new age."

Sampson says that the company has nonetheless followed a rigid empowerment programme over the past few years. "Our BEE and PDI policies have been robust enough for us to have been awarded contracts, including the Telkom brand, which we have operated for the past four years, the National Ports Authority, Umgeni Water, the City of Johannesburg, Women's Development Banking, Spoornet and the CSIR," says Sampson. "The fact that we have now concluded a deal that incorporates a black professional into our shareholding structure further enhances our position as a truly South African company, representative of our society, but now in the most real fashion."

Also speaking at the event last night, was Tom Blackett, Interbrand Group Deputy Chairman, who flew in from London for the occasion and to speak at the Marketing Federation Winter School.