PRESS RELEASE: THE DA VINCI INSTITUTE ANNOUNCES A CHANGE IN SHAREHOLDING

THE DA VINCI INSTITUTE ANNOUNCES A CHANGE IN SHAREHOLDING 

25 August 2015

PRESS RELEASE

• Edward Kieswetter acquired a majority interest in The Da Vinci Institute as part of a management buy-out 

• The Da Vinci Institute will continue to be run by the current CEO and shareholder, Professor Ben Anderson

• Da Vinci’s vision is to continue being a serious role player within the South African academic community

• Kieswetter says his vision is to expand and deepen Da Vinci Institute’s relationship with key stakeholders including               corporates within South Africa and across sub-Saharan Africa

• Da Vinci is now well known locally and internationally as a provider of high quality customized education, designed for         distance learners 

Johannesburg, 26 August 2015

The Da Vinci Institute yesterday announced a change of shareholding as part of a management buy-out by Edward Chr. Kieswetter, the Group Chief Executive of JSE-listed financial services group, Alexander Forbes and Professor Ben Anderson, current CEO and shareholder of The Institute. 

Kieswetter is buying an interest in The Da Vinci Institute from founding member Roy Marcus, who is retiring having established The Institute in 2004. Prof Marcus will however remain active within the Technology Top 100 Program on behalf of the institution.

“The Da Vinci Institute will continue to be run by the current CEO, Professor Ben Anderson”, says Kieswetter, who was installed as President of The Da Vinci Institute in May 2013. 

Acquiring an interest in The Da Vinci Institute, fulfils Kieswetter’s life-long ambition of making a difference to the lives of people through education. He says it also gives him the opportunity to expand his interest in providing world-class higher education for which The Da Vinci Institute is already well known.

A scholar himself with numerous professional and tertiary qualifications obtained at institutions of higher learning in South Africa, the United Kingdom as well as the United States, Kieswetter says his investment in The Da Vinci Institute provides a unique opportunity to contribute to skills and manpower development in both the private and public sector in South Africa through the provision of quality education. 

Kieswetter, who also served as Vice-Chair of the Council at the University of the Free State until the end of 2014, qualified in Electrical Engineering at CPUT.  He also holds three masters degrees, one in Science Education (Cognitive Development) from UWC, an Executive MBA from Henley (UK) and a Masters in Commerce (cum laude)(SA/International Tax) from Northwest University. He is a qualified teacher with a Bachelor of Education (Science Education) and obtained a Post Graduate Education Diploma in Engineering and Mathematics. Kieswetter recently resigned as the Chairman of the IRBA Committee for Auditor Ethics as well as the Deputy Chair of IFAC's International Accounting Education Standards Board (IAESB). He has also been the recipient of the prestigious African American Scholarship in 1991 (forwarding him the opportunity to become involved as a research scholar at Harvard University.

Kieswetter remains as Group Chief Executive of Alexander Forbes and will continue in his role as President of The Da Vinci Institute, providing strategic direction and enabling the institution to expand its reach and impact within the corporate world.

Says Kieswetter: 

“I have always admired The Da Vinci Institute with whom I have been associated for some time. When I was offered the opportunity to invest in The Institute, it was a fairly easy decision to make because its values and purpose are aligned to my own ethos of empowerment through education.

South Africa, as the most advanced economy in Africa and with great potential, has a dire need for a highly educated workforce.  Institutions of higher learning therefore have a crucial educational and developmental role to play to ensure we have the requisite skills in order for our country and the continent to compete on the global scene. At Da Vinci, we have rich curricula designed for both full-time and part-time students, and I am glad to see that many corporates within South Africa are already sending their employees to register for the customized business driven action learning programmes offered by The Institute. We are also attracting students from across sub-Saharan Africa, including countries as afar as Nigeria and Ghana, and this is testimony of the reputation The Da Vinci Institute has established.”

Says Marcus:

“Da Vinci’s relationship with Edward Kieswetter goes a long way and was cemented when he was installed as President of The Institute. As an outgoing shareholder it gives me comfort that The Da Vinci Institute will continue to provide the quality standard of education that we are now well known for. Edward Kieswetter has informed us that he intends to deepen our existing relationships with our stakeholders from both the public and private sectors as well as to explore growth opportunities within the rest of Africa and abroad.” 

Says Anderson:

“Edward’s understanding of the important role of higher education within society has been echoed by his engagements within the sector during the past 20 years. I am pleased to welcome him as my business partner and excited that he decided to invest some of his time and energy in continuing to position The Da Vinci Institute as a higher education provider of choice within South Africa and Africa at large.”

Ends/

About The Da Vinci Institute:

Located at a heritage site in Modderfontein Johannesburg, South Africa, The Da Vinci Institute was founded by Prof Roy Marcus in 2004. The Institute is a South African Mode 2 institution of learning, and is accredited by the South African Council on Higher Education as a distance private higher education institution. The Da Vinci Institute’s management leadership programmes focus on the Management of People, Innovation, Technology and Systems. The Institute offers Certificate, Diploma, Masters and PhD programmes in the Management of Technology and Innovation (MOTI) and a Bachelors Degree in Business Management. Da Vinci has also established the Technology Top 100 awards programme (TT100), South Africa's premier annual business awards programme. 

For further information:

The Da Vinci Institute:

Storm Thomas, Communications Manager

Tel: +27 11 579 4435

Cell: +27 78 797 0096

Email: storm@davinci.ac.za

Alexander Forbes:

DonRay Malabie: Head Transformation and Media Relations

Tel +27 11 269 1329

Email: malabied@aforbes.co.za

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