www . hvacronline . co . za RACA Journal I February 2021 5
News
COX MANUFACTURING :
LOOKING FORWARD , TARGETING RELEVANCE AND CUSTOMER EXPERIENCE
By Benjamin Brits
Benjamin Brits ( BB ) sat down with managing director and now 100 % shareholder , Phila Mncwango ( PM ), to talk about the acquisition and forward plans for the business .
In this exclusive interview , some insight is gained into the man now behind the manufacturing company ( and , in his own words , “ the jockey on the horse ”). We discussed some of the challenges and changes that have been implemented to ensure business continuity .
Before venturing into the sector and acquiring Cox Manufacturing , Phila Mncwango ran his own successful consulting company , specialising in assisting business to raise funding , maintain their financials records , and a portion of the business dealt with BEE ’ s ESD strategic solutions .
Prior to establishing his own business in 2017 , Insight Advisory Services , Mncwango held formal employment at a consulting engineering company , facilities management company , and an educational group .
Mncwango holds an MBA , a postgraduate diploma in Finance Banking & Investment Management , a Bachelor of Commerce in Accounting , all from the from the University KwaZulu-Natal ( UKZN ) and CIMA ’ s Advanced Diploma in Management Accounting . Phila is married with two daughters .
BB : Phila , how did you acquire Cox Manufacturing ? PM : Having a scalable business model is something that is important to me and I realised quite quickly I would not be able to have this in a business consulting environment . Typically these types of businesses are , for a lack of better description , a ‘ one-man show ’ where very few employees have a wide scope of specialised work .
Also , a diversified portfolio when you are looking at an investment strategy is key , but you also need to play to your strengths . Having had exposure in the engineering sector , manufacturing made sense to me and fits within my skill set along with my interest in various petroleum products , energy solutions , and the education space that will , in time , be the areas I will focus venturing into .
Fortunately for me , this opportunity came about first and I was introduced to Cox Manufacturing in 2018 . At that time the discussions around the acquisition were initiated as the business was compatible with my set criteria , and the financiers found synergy with me as the ‘ jockey ’ who would lead the venture too . At the beginning of 2019 I came on board as a new shareholder and the managing director of the company and today I am fully involved and invested in the business .
BB : As part of your strategy , how did manufacturing come to be a part of it ? PM : Manufacturing , in my view , probably comes second for a country after a reliable and sustainable energy supply to keep our houses on and
RACA Journal
Phila Mncwango , managing director and 100 % shareholder at Cox Manufacturing , is optimistic about the way forward and is focused on the customer experience .
businesses going . Businesses and expansions are limited these days because of the power unreliability we see in the country and this is an area that primarily needs to be solved , sooner than later .
Manufacturing then offers the possibility to produce specific products and service a wide range of industries , and supply large volumes . This methodology can be applied for products in buildings , infrastructure , the education sector , technology or even financial services . Manufacturing essentially connects so many businesses .
Manufacturing is also a very big factor for the country ’ s GDP and further a sector where you can create mass employment . Immediately at Cox Manufacturing there is a scalable and sustainability element with assurance that more than 45 people can be employed . Higher local demand exponentially increases the scalability of the business and directly impacts employment opportunities . One other factor we need to continually look at is that , in South Africa , 45 jobs doesn ’ t only feed 45 people – usually these jobs allow 4 or 5 , or even more people to benefit , thus playing a big role in eradicating poverty in our society .
BB : Phila , can you tell me about the changes in the company structure , if any ? PM : Taking a step back , before making any changes , we had to consider where we were . One aspect for any business , and something that I share with the team , is that we can have a good brand – and people in the industry can