South African based civil engineering consulting firm UWP Consulting has celebrated its 47th anniversary with a new name.
UWP Consulting officially changed its name to Mariswe on 1 February 2019 following 10 years of change that have resulted in the company becoming 100% owned by its employees, 55% black owned, and a Level 1 B-BBEE Contributor against the new Construction Codes. Mariswe’s stated aim is to engineer infrastructural solutions that build communities and improve people’s lives. “Our objective has always been to improve lives through sustainable engineering services,” says CEO Nonkululeko Sindane. “But the company has matured to the extent that it needs a new identity that showcases our transformation and our relevance in the future of South Africa and Africa.”New owners
UWP has acquired three majority black owned companies in the past 10 years – Khula Africa Engineers in 2009; CME Consulting Engineers in 2012; and Sektor Consulting Engineers in 2018. These acquisitions brought new technical expertise and projects to the firm. Most of the shares in the business have also changed hands. In 2016 UWP was 33% black owned and 12% black women owned. A 25% stake of the black ownership was held by an external equity partner and 8% by black employees in management. The remaining 67% of shares were owned by white employees. Today Mariswe is 100% employee owned and 55% black owned. Black women effectively own 24% of the company. The equity partner’s 25% holding was bought by Abaqeshwa, a company wholly owned by black employees in the business, while 30% of shares are held by black managers and professionals within Mariswe.Mariswe also successfully retained its Level 1 B-BBEE Contributor status in its first audit under the Amended Construction Sector Codes of Good Practice in November 2018.