E Molewa on sale of Bop Recording Studios

22 Jun 2006
North West government pleased with sale of Bop Recording
Studios

22 June 2006

The North West Provincial Government is pleased to announce that the Public
Investment Corporation has confirmed that a North West based consortium has
bought the Bop Recording Studios (BRS).

"We are excited because the new owners are resident in our province. It is
also heartening to note that this deal advances our objectives of broad-based
black economic empowerment," said North West Premier, Edna Molewa.

The provincial government is delighted because the new owners share its
vision of developing our province and its people. Government has already
developed a partnership relationship with the new owners of this ultra modern
and well equipped complex. BRS presents a unique opportunity for the provincial
government to advance its goals of growth and development.

The provincial government is confident that this partnership will lead to
the attainment of the following objectives:

* revival of Mafikeng
* development of the arts
* development of local artists
* black economic empowerment
* women empowerment
* community development

In addition, the provincial government is also exploring a variety of models
on how this complex could be productively utilised.

"We are delighted that the new owners are willing to create space to enable
us to utilise BRS in a manner that will enable us to achieve our original
goals. We will soon sign a Memorandum of Understanding in this regard. We are
therefore satisfied it was bought by the right people", said Molewa, adding
that BRS is a valuable asset of the province.

The provincial government has a vested interest in the success of this
venture. "Accordingly, we will do everything possible to ensure that it helps
realise our objective of positioning the North West as a regional hub of
entertainment and the creative industry. This is consistent with our
Accelerated and Shared Growth of South Africa (AsgiSA) objectives. We are
satisfied that it will add value to our growth and development objectives".

Enquiries:
Spokesperson North West Provincial Government
Cornelius Tanana Monama
Tel: (018) 387 3456
Cell: 082 578 4063

Issues by: Office of the Premier, North West Provincial Government
22 June 2006