MFSA sells the IMM Graduate School of Marketing

"The MFSA is a professional advocacy body that determines and sets industry standards and plays a pivotal role in the legislative development of policies that govern issues across the marketing discipline in Southern Africa, and to this end cannot assume the roles of referee and player of marketing standards. As such, the IMM GSM lacks strategic fit with regards to the MFSA's core business objectives," commented Makwana.

Once the decision was made to sell off the IMM-GSM, the MFSA were committed to finding a buyer that met certain key criteria. The non-negotiable criteria included:
-- Offer security and tenure of the IMM-GSM management, students and employees.
-- Must ensure the longevity of the qualifications offered.
-- Sustainability of the IMM-GSM brand and brand equity.
-- Ongoing statutory compliance.
-- Maintain a positive relationship between the MFSA & IMM-GSM.

Interested buyers were scrutinised accordingly and a final decision was reached to affect the sale to Riverbend Learning Group Holdings, a member of the Riverbend Group. The Riverbend Group specialise in the delivery of quality education with a focus on building capacity on the African continent through technology and are committed to extending the IMM-GSM offering into the African continent and thereby offer the opportunity of growing the IMM-GSM operating environment and in turn the profitability of the business.

The IMM-GSM is excited at the prospect of the new ownership deal and General Manager of the IMM-GSM, Helen McIntee says: "The split from the MFSA is unfortunate but a necessary development given the current CHE directive. The management, staff and students of the IMM-GSM could not have wished for a better owner in Riverbend Learning Group Holdings and are thrilled at the huge prospects and opportunity for growth that the deal offers," she adds. McIntee assured all stakeholders that the transfer of ownership will offer the students and the school a host of additional benefits.

"The split of the IMM GSM from the MFSA will solidify the MFSA's position as independent educational accreditor and quality controller governing the marketing industry in Southern Africa and will alleviate the MFSA of any conflict that may arise when challenging government on the laws that affect the principles of marketing in South Africa," commented Makwana.