ExecuJet South Africa and Simang Group Join Forces with Empowerment Deal.

ExecuJet South Africa is pleased to announce that it has reached an agreement with the Simang Group in respect of a Black Economic Empowerment transaction. The transaction will see the Simang Group buy a 30% equity stake in the largest Business Aviation Company in Africa.


Investment company Simang Group was established in 2008 as the holding company for a host of companies in various sectors of the market, including IT, consumer electronics, job recruitment, logistics, property development, property rental, manufacturing and engineering, as well as mining and resources. Stephen Paddy, Chairman of Simang Group, will have an active role in ExecuJet South Africa as Sales & Marketing Director. Simang Group’s CEO, Andrew Masongwa, is appointed as non-Executive Director.


With a charter fleet of over 50 aircraft ranging from turbo props to intercontinental jets, ExecuJet South Africa is regarded as the African market leader in this industry. ExecuJet South Africa has world class facilities at Lanseria International and Cape Town International airports where it offers aircraft sales, maintenance, management, charter services and FBO facilities. ExecuJet South Africa is also the Authorised Maintenance Service and Warranty facility for some of the largest Aircraft Manufacturers in the world such as Bombardier, Gulfstream, Hawker and Dassault Falcon.
Ettore Poggi, Managing Director ExecuJet South Africa stated: “We regard transformation as fundamental to the long-term development and stability of the South African economy and its business in the entire African continent. The transaction with Simang Group attests that ExecuJet South Africa fully endorses these principles and, in addition, views this transaction as a necessary strategic response to increasing market requirements for empowerment credentials” he adds.
A previous empowerment transaction announced during September 2010 between ExecuJet South Africa and the Guma Group did not ensue with both entities having amicably parted.