The owners of Aurecon have overwhelmingly approved the proposed separation, which is the result of a proposal by the African business as global business models are no longer considered an advantage there. The separation is expected to become effective from 1st January 2020.
The Aurecon Group was founded in 2009 through a merger of Australian firm Connell Wagner with Africon and Ninham Shand, both African based businesses.
Aurecon chief executive officer William Cox, said: “Since its creation 10 years ago, the Aurecon business has provided outstanding service to clients, great experience and development for its people, contributed to its communities and grown. In recent years, conditions in Africa have changed. Global models are no longer considered an advantage with clients in Africa focusing instead on supporting and working with smaller local firms.
“The overwhelming vote in favour of the separation reflects the collective belief of Aurecon’s owners that the separation of the Africa business from the overall group is in the best interests of both businesses.”
The separation is expected to become effective at the start of January, subject to certain regulatory approvals. At this time the management of the Africa business will assume full responsibility for the Africa business.
“The demerger allows the Africa business to re-engineer how we partner with our clients and capitalise on market opportunities available across our continent while remaining agile, digitally focused and an African employer of choice,” said Dr Gustav Rohde, MD of the Africa business.