PSG Konsult has announced the sale of two of its non-core businesses: PSG Academy and Nhluvuko Risk Administration.
PSG Academy, a private higher education institute that offers training to financial advisers, has been acquired by Moonstone Information Refinery. The Academy will continue its operations under new ownership, with current students remaining enrolled and existing courses being offered as before. All Academy staff have also retained their posts.
Nhluvuko Risk Administration, a health insurance administrator, has been acquired by African Unity Health (Pty) Ltd. The sale has no direct impact on the staff or clients of Nhluvuko Risk Administration: The business will continue to operate as before with existing products, services and issued insurance cover remaining in place. Both sales are effective from 1 March 2015.
The transactions allow PSG Konsult to further streamline its business structure and direct greater focus to core operations. It also believes this to be in the best interests of clients of both PSG Academy and Nhluvuko Risk Administration, as the businesses have been sold to reputable companies that can apply a dedicated focus to their operations.