Dec. 1, 2006

Experian concludes empowerment transaction in South Africa

Experian®, the global information solutions company, has announced that it has concluded an empowerment transaction of 25.1% of its operation in South Africa with Mowana Investments, a black-owned and controlled investment company.

Experian provides analytical and information services to organisations and consumers to help manage the risk and reward of commercial and financial decisions. It combines its comprehensive credit database with analytics and scoring expertise to deliver credit risk management solutions to the South African credit industry.

Nigel Fine, Managing Director, Experian EMEA & Asia Pacific, said: “South Africa is an important market for Experian and this partnership with Mowana Investments emphasises our commitment to BEE by meeting the broad-based black economic empowerment requirements appropriate to South Africa. In Mowena, we are gaining a partner that can add value to our business. Measured against the stipulated codes, Experian South Africa is now the most empowered company in its sector, demonstrating our intent to remain a preferred supplier to the country’s credit market for the long term.”

Nkenke Kekana, Director, Mowana Investments, added: “Mowana Investments will be a strategic and active partner in the development of Experian’s South African business. Mowana’s acquisition of a stake in Experian represents its first significant foray into the financial services market and having a committed multinational business as a partner will assist in the development and pursuit of related market opportunities.”