Johannesburg, 19 June 2018 – JSE-listed, African financial services group, Ecsponent Limited, today announced its acquisition of 49% shareholding in Truth Digital Group (Pty) Ltd, a digital marketing group owned by entrepreneur and businessman Shaka Sisulu.
Ecsponent CEO Terence Gregory said: “Truth Digital is a 100% black-owned digital media group, with an African growth agenda and under Shaka’s leadership adds a team with a wealth of experience and a perfect fit for the Group.”
Says Sisulu about the investment, “I look forward to a long and rewarding relationship with Ecsponent. Their confidence in Truth Digital and support brings me a step closer to realising my vision of a creating the largest, diverse and dynamic black-owned digital marketing group on the African continent.”
Ecsponent holds a range of listed and private equity investments that have a medium to long-term investment horizon. The group helps investee companies develop and profitably commercialise technology that has global applications and offers cost-effective market solutions.
Gregory said the investment follows the company’s commitment to source specialists in niche business areas which are outside the group’s core financial services expertise and investing in minority stakes in these businesses. Target companies are well-managed, self-sufficient and provide a balance in the Group’s short-term and long-term asset base.
This transaction supports Ecsponent’s strategic vision and consolidates the Group’s exposure to the digital marketing sector, providing attractive prospects in a rapidly expanding market.
“The value offered by the Truth Group matches our investment criteria and with Shaka’s expertise and industry knowledge we are confident it will deliver the shareholder returns we anticipate,” Gregory concludes.
About Truth Digital
Truth Digital Group (Pty) Ltd is 100% owned by Shaka Sisulu and was established as an investment vehicle through which Shaka aims to create the largest, diverse and dynamic black-owned digital marketing Group on the African Continent.
The current subsidiaries held by Truth Digital include Plum, iKGB, Roi Africa and Retroviral. The subsidiaries all operate as separate, privately incorporated companies with specialist niche services offered to clients. The Truth Group’s capabilities are strengthened by the synergies and reciprocal possibilities between the subsidiary.