Business Partners to Welcome New Managing Director

JOhann Rupert, chairman of Business Partners Limited – leading financier of small and medium enterprises in South Africa – announced at the company’s annual general meeting yesterday that Nazeem Martin has been selected to become Managing Director on 1 January 2009.

Mr Martin, currently deputy managing director will succeed Jo’ Schwenke, who will retire as MD on 31 December 2008.

“I am pleased to announce the selection of Nazeem Martin as succeeding Managing Director,” says Johann Rupert, “Nazeem is a talented and experienced leader, who has already made a significant impact on the small and medium business environment in South Africa. Business Partners is an extraordinary company, and I am certain that Nazeem will lead this company to new levels of success, despite the current difficult economic environment.”

At present, Martin heads up the company’s iKapa Business Unit, based in Cape Town. “It is an honour to be entrusted with the responsibility of leading a company that had such a positive impact on the SME environment,” he says, “and it is a privilege to succeed Jo’ Schwenke, under whose leadership and vision, Business Partners grew into a company respected and acknowledged internationally for its unique solutions to the challenges SMEs face.” Martin concludes by saying “our stability and success as a nation depends in large part on a vibrant, enabled and productive entrepreneurial sector,” says Martin, “and it is our intention at Business Partners to be one of the continent’s most significant forces for innovative entrepreneurial development.”

During the twelve years of Jo’ Schwenke’s tenure, the company’s investment portfolio has grown organically from R564 million at the end of the 1997 financial year to R1 672,1 million. It was also during this time that, under Schwenke’s vision and leadership, a unique investment model, which makes use of equity, royalty and loan financing, was developed. The Business Partners investment model for SMEs is internationally recognised as one of the most effective for use in developing economies.

“It is with a sense of satisfaction that I approach the end of my term,” Schwenke says, “and I believe the company will continue to build on its success under Nazeem’s able leadership. Nazeem’s solid educational background, previous business experience and excellent track record make him the perfect person for the job.”

www.businesspartners.co.za