IFP Youth Brigade lauds Deutsche Bank BEE Deal

Durban: February 4, 2005

The IFP Youth Brigade National Chairperson, Mr Thulasizwe Buthelezi lauded the BEE deal that was concluded between Deutsche Bank and Uthajiri Investments Holdings.

"The deal represents a radical departure from what we have been accustomed to, where it is only the ANC fat cats that were reaping the rewards of black economic empowerment. The Uthajiri deal is an excellent example of broad-based black economic empowerment and also has a great deal of skills transfer as Uthajiri will be involved in the day-to-day decision making of Deutsche Bank," commented Thulasizwe.

"More importantly the Uthajiri deal is a vote of confidence in the youth of this country as the deal sets aside a stake for all current and future managers of the company."

It is the IFP Youth Brigade's fervent hope that other BEE deals will begin to emulate the broad-based nature and spirit of the Uthajiri deal.

For further information contact:
Thulasizwe Buthelezi
083 482 7936