African Marine Solutions (AMSOL) is a world-class, marine solutions provider operating a fleet of specialist vessels servicing various sectors, including maritime, energy, mining, and ports. The company has evolved significantly from its origins as Pentow Marine, expanding both its business and geographic footprint and growing from strength to strength by investing in its people and ensuring that its different stakeholders benefit from the success of the business.   

A management buyout in 2016, alongside RMB Ventures, Mineworkers Investment Company  and Pan African Capital Holdings, transformed the business into a 100% South African, majority black-owned company with 33% shareholding held by employees of the business. 

AMSOL is proudly South African owned and invests in developing local talent to foster economic growth. They are the only marine solutions provider of their size in the region that is employee and management owned, positioning the company as a leader in economic empowerment and shared value creation. Over the years, the partnership with RMB Ventures has provided a springboard for growth, which in turn has moved the business closer to achieving its full potential. 

Shared Value Fosters Economic Empowerment

AMSOL’s value proposition is to provide its clients with flexible, risk-managed marine solutions that meet stringent international standards, a key consideration in a highly regulated environment where safety and compliance are of the utmost importance. This commitment has driven the company’s growth and positioned it for future expansion. 

From fuel logistics and transportation in ports and offshore, to connecting offshore mining to onshore supply chains, providing vessel management services and responding to marine emergencies , having the right technical competence to deliver these various specialised solutions is key. More than that, however, it is the focus on training and developing a local talent pipeline that truly sets AMSOL apart. 

Dan Ngakane, CEO of AMSOL, says: “We are proud to be the largest employer of South African seafarers. Given the potential the blue economy holds for our country, this skills base is important in creating sustainable growth which is why  we are passionate about creating greater economic participation for black South Africans in the maritime economy.” 

Purpose Driven Growth

Like many businesses, AMSOL has had to navigate a difficult period in recent years. Over and above the macroeconomic climate, the marine industry is a high-risk environment that needs to operate to global standards. This means balancing occupational health and safety with operational requirements ensuring environmental protection, and providing a seamless service  whilst attracting and retaining top talent. This can be challenging in an industry where the workforce is highly mobile depending on market demand and supply dynamics - and the qualifications are internationally recognised. 

Ngakane comments: “In a service business, the most important thing is for us to have the right people. We need a skilled and motivated workforce to deliver our services to the highest standards ensuring we always meet client expectations. In support of having a pool of qualified and experienced personnel we have developed our own talent pipeline and provide a competitive employee value proposition to attract and retain key skills.  We must however continually improve to stay ahead of the game.” 

On growth, Ngakane says: “Our business has been through many iterations, but in the last few years we have begun to move outside of South Africa, expanding our geographic footprint into greater Africa via Namibia, Mozambique and Ghana, which is instrumental in our growth trajectory.” 

AMSOL is a purpose-centred organisation with its Purpose statement being “Empowering people through sustainable solutions.” 

Says Ngakane: “One of the most important criteria for success from my perspective is to lead an organisation that is consistent with our purpose. Not only have we worked to develop our employees, but also to grow the maritime industry in South Africa. We have built a strong network of relationships with our supply chain and clients, and our business model incorporates diverse marine services, making us more resilient to cyclic challenges.” 

He adds. “At the core of this is our technical competency combined with an impeccable safety (SHEQ) record. This is why our clients keep coming back to us – our ability to deliver consistently.” 

Partners in Full Potential

Beyond pure financial investment, RMB Ventures has played a significant role in the growth story of AMSOL as a partner that, together with the management team, has helped to envision the full potential of the business, using their resources to empower the business to navigate obstacles that are in the way of achieving this. 

Pearl Madangombe, senior transactor at RMB Ventures, says: “For us, full potential encompasses far more than just annual profits, and we are committed to supporting AMSOL in their growth, sustainability and empowerment journeys as they live their purpose. There is no single blueprint for success, so our role is to be a partner through financial investment as well as through value creation, to help them map their full potential journey and then to walk it with them.” 

Looking forward, AMSOL is aiming to consolidate its position as a market leader in South Africa to strengthen its core business. The company is also looking to diversify its offering into adjacent service businesses that offer growth opportunities, as well as further expanding its footprint into the African market, with the focus on Namibia, Mozambique and Ghana. 

Ngakane concludes: “RMB Ventures is part of a much bigger ecosystem and has a large value creation toolkit that is invaluable in helping us make a success of our growth ambitions. In practical terms, the team at RMB Ventures has pushed us to think about our purpose and visualise our future, helping us to understand what our full potential looks like and how we can get there. We are excited to see where our journey takes us.”