R15m, SATURDAY CITIZEN (First Edition)

R15m, SATURDAY CITIZEN (First Edition), Page 4

The founding family of one of South Africa's oldest fashion labels, Delswa, has sold its stake to management, staff and trade union Nehawu for R15 million. The deal was facilitated by the National Empowerment Fund which invested a further R20 million. The company was founded by Sam Jaff in 1930 and evolved from a high-end manufacturer of ladies fashion into a niche corporate clothing manufacturer.

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