Thebe’s Timeline of Historic Milestones

Thebe, as part of a joint venture, has developed this vacant site. The project is Thebe’s first greenfield student accommodation development. The project is aligned with Thebe’s strategy to develop student accommodation and affordable housing in high-demand, underserviced locations.

Grathel Motau has been appointed Thebe Investment Corporation’s group FD, effective September 1. She will also serve as an executive director on the Thebe board. Motau has experience in finance encompassing operations, accounting, auditing, credit, corporate finance, transaction structuring and private equity. She joins Thebe from Mmoni Advisory Services, where she served as CEO for the past five years. Mmoni Advisory Services is a boutique organisation that specialises in transaction advisory services for small and medium-sized businesses. Motau is also a fellow of the tenth class of the Africa Leadership Initiative – South Africa (ALI SA) and a member of the Aspen Global Leadership Network, the International Women’s Forum and African Women Chartered Accountants. She serves as a nonexecutive director of both ALI SA and St Anne’s Diocesan College in Hilton, KwaZulu-Natal. Ends For media and PR queries, contact Zamahlubi Luthuli zama@everestcommunications.co.za

Capitalised with a R100,000 grant, Thebe opens for business in July 1992 Co-founders Enos Mabuza appointed Non-Executive Chairman and Vusi Khanyile appointed CEO Acquired 100% of travel agency business Oriole Travel and 100% of memorabilia manufacturing and distribution business Movement Marketing Enterprises Acquisition of commercial real estate company Dakawa Properties Establishment of South African Express Airlines, SA’s first regional low-cost airline

Thebe establishes a Power and Infrastructure division headed up by Pieter Kriel | Thebe establishes Thebe Foundation to drive the overarching Group strategy on community development and to create a framework to support the excellent work being done across the Group, Mokgethi Tshabalala appointed as GM | Sale of Thebe Employee Benefits (TEB) to SALT NO3 (PTY) | Sale of Cunningham Lindsey to Cunningham Lindsey International Europe B.V.

Capitalised with a R100,000 grant, Thebe opens for business in July | Cofounder Enos Mabuza appointed Non-Executive Chairman Co founder Vusi Khanyile appointed CEO | 100% ownership of travel agency business Oriole Travel | 100% ownership of memorabilia design, manufacturing and distribution business Movement Marketing Enterprises |Acquisition of commercial real estate company Dakawa Properties | Establishment of South African Express Airlines, SA’s first regional airline.

Commercial property development business Thebe Properties is established, with Zwelakhe Mankazana appointed MD and Dirk Ackerman appointed Chairman | Establishment of residential real estate company Yesive Properties to acquire apartment block near the Union Buildings | 6m raised with Swedish grant for establishment of wholly owned subsidiary National Printing & Publishing Trust, with Monwabisi Fandeso appointed Independent Director | Establishment of school-book business Nolwazi Publishers in a joint venture with McMillan Publishers | Sale of commercial real estate company Dakawa Properties | Establishment of Sports Afrique (now Moribo Leisure) | Establishment of Pitseng Catering Services | Establishment of wholly owned subsidiary Sizwe Car Hire | All candidates for political office in upcoming elections stand down from Thebe and withdraw from the Batho Batho Trust | Explaining pre-1994 Board exits, Non-Executive Chairman Enos Mabuza says, “Thebe is not in the business of politics. We are in the business of business.”

Commercial property development business Thebe Properties is established Establishment of residential real estate company Yesive Properties to acquire apartment blocks 6m raised with Swedish grant for establishment of wholly owned subsidiary National Printing & Publishing Trust Establishment of school-book business Nolwazi Publishers in a joint venture with McMillan Publishers Sale of commercial real estate company Dakawa Properties Establishment of Sports Afrique (now Moribo Leisure) Establishment of Pitseng Catering Services Establishment of wholly owned subsidiary Sizwe Car Hire All candidates for political office in upcoming elections stand down from Thebe and withdraw from the Batho Batho Trust

Sale of residential real estate company Yesive Properties | Establishment of wholly owned subsidiary Msele Financial Holdings to be a nucleus of a future Merchant Bank | Thebe raises R500m to launch SA Express Airways (51% Thebe-owned) in a turning point in the company’s history, as South African institutions start to take note of the company | Establishment of Rainbow Construction in a Thebe Properties-led partnership with Wilson Bailey Homes and independent builders from Soweto | Establishment of Bhekisizwe Computer Systems in partnership with Persetel, with Arthur Matshiatshidi appointed CEO | Acquisition of controlling interest in the Citizens Bank in a transaction funded by First CorpSale of 49% of Oriole Travel to Rennies Travel | Acquisition of 51% of Safrican Insurance, with Sandile Mbili appointed CEO and previous owner | Fedsure remaining as managing partner (Safrican began as a burial society in Sophiatown in 1932) | Development of radio station Kaya FM (a station with an African soul) by Pat Dambe who later became Kaya’s first MD | Acquisition of 50.1% of insurance broker Hubert Hoskens from Alexander Forbes (renamed Thebe Hoskens)

Thebe raises R500m to launch SA Express Airways (51% Thebe-owned) in a turning point in the company’s history Acquisition of 51% of Safrican Insurance with Fedsure remaining as managing partner (Safrican began as a burial society in Sophiatown in 1932) Establishment of wholly owned subsidiary Msele Financial Holdings as nucleus of a future Merchant Bank Acquisition of 50.1% of insurance broker Hubert Hoskens from Alexander Forbes (renamed Thebe Hoskens) Sale of residential real estate company Yesive Properties Establishment of Rainbow Construction in a Thebe Properties-led partnership with Wilson Bailey Homes and independent builders from Soweto Establishment of Bhekisizwe Computer Systems in partnership with Persetel Acquisition of controlling interest in Citizens Bank in a transaction funded by First Corp Sale of 49% of Oriole Travel to Rennies Travel Development of radio station Kaya FM begins

Yaseen Bhayat joins Thebe as MD of Thebe Industrial Holdings Acquisition of Strategic Health Care Systems (renamed Vuna Healthcare Logistics) Incorporation of Msele Financial Holdings into Citizen Bank to become its Investment Banking Division Leisure and entertainment business Moribo awarded contract to manage Johannesburg Stadium First focus of Thebe investments into four divisions: Financial Services, Entertainment & Leisure, Industrial Holdings and Aviation Positions of CEO and Chairman are combined and Vusi Khanyile becomes Executive Chairman

Sale of school-book business Nolwazi Publishers | Sale of Movement Marketing Enterprises | Sale of National Printing & Publishing Trust | Sale of Sizwe Car Hire Acquisition of 10% shareholding in ICL (Bhekisizwe is sold into ICL as part of the consideration) | Acquisition of 33% of JH Isaacs (Thebe Properties is sold into JHI as part of the consideration) | Inus Prinsloo appointed CEO of Citizens Bank, embarks on growth strategy | Sale of remaining Oriole Travel shares (now Landa Travel) to Jomo Sono | Investment in JSE-listed MacMed Healthcare | Acquisition of minority shareholding in a data communications company Swiftnet (Telkom is the controlling shareholder)

Yaseen Bhayat joins Thebe as MD of Thebe Industrial Holdings | Acquisition of Strategic Health Care Systems (renamed Vuna Healthcare Logistics) | Incorporation of Msele Financial Holdings into Citizen Bank to become its Investment Banking Division | Leisure and entertainment business Moribo awarded contract to manage Johannesburg StadiumFirst focus of Thebe investments into four divisions: Financial Services (Litha Nyhonyha), Entertainment & Leisure (Moss Mashishi), Industrial Holdings (Yaseen Bhayat) and Aviation (Israel Skosana) | Positions of CEO and Chairman are combined and Vusi Khanyile becomes Executive Chairman

Acquisition of minority share in data communications company Swiftnet (Telkom as controlling shareholder) Sale of school-book business Nolwazi Publishers Sales of Movement Marketing Enterprises, National Printing & Publishing Trust and Sizwe Car Hire Acquisition of 10% shareholding in ICL (Bhekisizwe is sold into ICL as part of the consideration) Acquisition of 33% of JH Isaacs (Thebe Properties is sold into JHI as part of the consideration) Sale of remaining Oriole Travel shares (now Landa Travel) to Jomo Sono Investment in JSE-listed MacMed Healthcare

Kaya FM and Wholly owned subsidiary Tepco Petroleum was established Sales of Emthonjeni Publishers and entertainment and leisure business Moribo Acquisition of 30% stake in Nasou and Via Afrika, Naspers’ education business Shareholding in SA Express reduced, allowing SAA to become controlling shareholder Merger of Citizens Bank with Future Bank and Bophutatswana Building Society Strategic decision to capitalise the business is made and strategic minority shareholders are introduced

Kaya FM goes live on 1 August | Sale of Emthonjeni Publishers | Sale of entertainment and leisure business Moribo | Establishment of wholly owned subsidiary Tepco Petroleum | Acquisition of 30% stake in Nasou and Via Afrika, Naspers’ education business | Shareholding in SA Express reduced, allowing SAA to become controlling shareholder | Merging of Citizens Bank with Future | Bank and Bophutatswana Building Society to create Future Bank Corporation (FBC) | Strategic decision to capitalise the business is made and strategic minority shareholders are introduced

Batho Batho Trust dilutes shareholding from 100% to 74% to allow Old Mutual, Fedsure (now Investec) and Sanlam to collectively acquire 26% of Thebe | Net Asset Value reaches R1bn | Initiation of project to use the South African heritage resources to develop a tourism business (later becomes the Thebe Tourism Group) | Shareholding in ICL increased to 40% | Acquisition of casino interests from Sun International to form Tusk Casino Resorts | Merging of FBC with Fidelity Bank to form FBC Fidelity Bank (which in terms of assets makes it the seventh-largest retail bank in SA)

Batho Batho Trust dilutes shareholding from 100% to 74%, allowing Old Mutual, Fedsure (now Investec) and Sanlam to collectively acquire 26% of Thebe Net Asset Value reaches R1bn Initiation of project to use the South African heritage resources to develop a tourism business (later becomes the Thebe Tourism Group) Shareholding in ICL increased to 40% Acquisition of casino interests from Sun International to form Tusk Casino Resorts Merging of FBC with Fidelity Bank to form FBC Fidelity Bank (in terms of assets, the 7th largest retail bank in SA)

Capital markets crash | MacMed is delisted and liquidated | FBC Fidelity Bank experiences a liquidity squeeze as part of South Africa’s small- to medium-sized banking crisis (the bank is placed under curatorship, and sold to Nedcorp for R1 the following year)

FBC Fidelity Bank experiences a liquidity squeeze as part of South Africa’s small- to medium-size banking crisis (the bank is placed under curatorship, and sold to Nedcorp for R1 the following year Capital markets crash MacMed is delisted and liquidated

The shareholder value of Thebe is decimated | Fundamental restructuring of the Group begins | Establishment of the Group BEE Index (Thebe companies are now measured by reference to board control or equity holding, effective economic interest, management demographics, employee demographics and affirmative procurement) | Strategic decision is made to focus on financial services (including private equity investments) and tourism, and to dispose of all other assets that do not fit this description | Sale of remaining stake in SA Express | Negotiations to acquire a stake in Shell SA commence Sale of FBC Fidelity Bank to Nedcor for R1 (following the capital markets crash and local banking crisis in 1999) | Establishment of Batsumi Airport Ventures in a JV with Cape Union Mart to sell adventure gear

Establishment of Batsumi Airport Ventures in a JV with Cape Union Mart to sell adventure gear The shareholder value of Thebe is decimated and fundamental restructuring of the Group begins Establishment of the Group BEE Index (Thebe companies are measured by reference to board control or equity holding, effective economic interest, management & employee demographics and affirmative procurement) Strategic decision is made to focus on financial services (including private equity investments) and tourism, and to dispose of all other assets that do not fit this description Sale of remaining stake in SA Express Negotiations to acquire a stake in Shell SA commence

In March, the value of Thebe is confirmed to be R72m | Thebe takes a strategic decision to become an Investment Management Company | With Investec acquiring Fedsure, Thebe assumes management control of SafricanThebe becomes a managing shareholder in Thebe Hoskens (replacing Alexander Forbes)Thebe Hoskens renamed Thebe Risk & Benefits Group, with Phinda Madi appointed CEO | Thebe deliberately becomes more marketing conscious, conducting research into market perceptions of the brand, developing a brand architecture and creating a Group Marketing Executive position James Alderslade joins Thebe as Group Financial Director

Thebe Hoskens renamed Thebe Risk & Benefits Group In March, the value of Thebe is confirmed to be R72m and Thebe takes a strategic decision to become an Investment Management Company With Investec acquiring Fedsure, Thebe assumes management control of Safrican and becomes a managing shareholder in Thebe Hoskens (replacing Alexander Forbes) Thebe deliberately becomes more marketing conscious, conducting research into market perceptions of the brand, developing a brand architecture and creating a Group Marketing Executive position

Sale of ICT Swiftnet to Telkom | Sale of Rainbow Construction to a BEE consortium | Sale of ICL stake to ICL International | Acquisition of 25% interest in Shell South Africa Marketing (Tepco Petroleum is sold into SSAM as part of the consideration) | Tusk Resorts opens Emanzini Casino Resort | Establishment of ICT business Thebe Transactive

Acquisition of 25% interest in Shell South Africa Marketing (Tepco Petroleum is sold into SSAM as part of the consideration) Sale of ICT Swiftnet to Telkom Sale of Rainbow Construction to a BEE consortium Sale of ICL stake to ICL International Tusk Resorts opens Emanzini Casino Resort Establishment of ICT business Thebe Transactive

Acquisition of a stake in medical aid admin company Odyssey Healthcare | Merging of Odyssey Healthcare with Thebe Ya Bophelo Healthcare Administrators | Emancipation of Thebe Risk & Benefit Group as Alexander Forbes is bought out as a minority shareholder Thebe Risk & Benefit Group is split to spawn three independent businesses: Thebe Risk Services (51% held), Thebe Employee Benefits (100% held) and TYB Healthcare Administrators (67% held) | Acquisition of controlling stake in PLJ Securities (renamed Thebe Securities) | Establishment of site tax service company Thebe Yomnotho | Group HR Management function is established

Thebe Risk & Benefit Group is split to spawn three independent businesses: Thebe Risk Services (51% held), Thebe Employee Benefits (100% held) and TYB Healthcare Administrators (67% held) Acquisition of a stake in medical aid admin company Odyssey Healthcare Merging of Odyssey Healthcare with Thebe Ya Bophelo Healthcare Administrators Emancipation of Thebe Risk & Benefit Group as Alexander Forbes is bought out as a minority shareholder Acquisition of controlling stake in PLJ Securities (renamed Thebe Securities) Establishment of site tax service company Thebe Yomnotho Group HR Management function is established

Acquisition of 51% interest in Creditworx (which is quickly increased to 53.8%) | A new format of the Group Executive Committee is agreed and implemented | Development of new go-to-market strategy for the financial services businesses selling to the LSM 2 to 7 markets, moving from a product-centric to a client-centric approach | Acquisition of JSE-listed Alliance Pharmaceuticals Limited, and its holding company Forim Holdings Limited (renamed Thebe MediCare)

Acquisition of 51% interest in Creditworx (which is quickly increased to 53.8%) A new format of the Group Executive Committee is agreed and implemented Development of new go-to-market strategy for the financial services businesses selling to the LSM 2 to 7 markets Acquisition of JSE-listed Alliance Pharmaceuticals Limited, and its holding company Forim Holdings Limited (renamed Thebe MediCare)

Sale of 55% of Safrican to Sanlam (Thebe retains a 45% stake) | Establishment of Thebe Community Financial Services | Sale of 30% stake in Thebe Community Financial Services to Sanlam | Acquisition of the balance of 44.2% stake in Creditworx from minority shareholders (now 100% held) | Acquisition of outsourced bank hosting infrastructure Emid (which is incorporated into | Thebe Community Financial Services structure) | Thebe receives over R100m funding from Dutch company FMO | Acquisition of Rai SA (renamed Thebe Exhibitions) to enhance the Thebe business tourism sector | Thebe Yomnotho and Thebe Transactive absorbed into Thebe Employee Benefits | Acquisition of 51% interest in Unilever Quality Products | Establishment of Maravedi Financial Solutions in a joint venture with JD Group and Absa Acquisition of 51% of structuring and funding specialist EBOP (renamed TBOP Capital)

Acquisition of 51% interest in Unilever Quality Products Acquisition of the balance of 44.2% stake in Creditworx from minority shareholders (now 100% held) Sale of 55% of Safrican to Sanlam (Thebe retains a 45% stake) Establishment of Thebe Community Financial Services and sale of 30% stake to Sanlam Acquisition of outsourced bank hosting infrastructure company Emid (which is incorporated into Thebe Community Financial Services structure Thebe receives over R100m funding from Dutch company FMO Acquisition of Rai SA (renamed Thebe Exhibitions) to enhance the Thebe business tourism sector Thebe Yomnotho and Thebe Transactive absorbed into Thebe Employee Benefits Establishment of Maravedi Financial Solutions in a joint venture with JD Group and Absa Acquisition of 51% of structuring and funding specialist EBOP (renamed TBOP Capital)

Establishment of Indwe Insurance Brokers in a joint venture with Pamodzi Investment Holdings (through the merger of Thebe Risk Services and Prestasi Brokers) | Acquisition of 25% stake in engineering and construction company Kentz South Africa | Sale of Tusk Resorts to Peermont Global | Acquisition of 4.4% stake in Channel Life Holdings (remaining 45% stake in Safrican is sold into Channel Life Holdings as part of the consideration in 2007) | Acquisition of a 15% interest in Combined Motor Holdings for R294m | Batho Batho Trust sells 2,061 shares to Umhlomulo Equity Participation (a company made up of Thebe employees), thus giving Umhlomulo 22% shareholding in Thebe

Acquisition of a 15% interest in Combined Motor Holdings for R294m Establishment of Indwe Insurance Brokers in a joint venture with Pamodzi Investment Holdings (through the merger of Thebe Risk Services and Prestasi Brokers) Acquisition of 25% stake in engineering and construction company Kentz South Africa Sale of Tusk Resorts to Peermont Global Acquisition of 4.4% stake in Channel Life Holdings (remaining stake in Safrican is sold into Channel Life Holdings in 2007) Batho Batho Trust sells 2,061 shares to Umhlomulo Equity Participation (a company made up of Thebe employees), thus giving Umhlomulo 22% shareholding in Thebe

Acquisition of a further 48% from the minority shareholders in Thebe Securities (now 100% held) | Acquisition of 17,9% of JSE-listed building materials company Safic Holdings (Accentuate) | Acquisition of a 25% stake in global risk management company Gab Robins South Africa | Acquisition of a 21% interest in local plastics manufacturer Safripol | Sale of remaining 45% shareholding in Safrican Insurance to Channel Life | Absa becomes a 15.65% shareholder in Thebe after buying Old Mutual’s and Investec’s shares | Sanlam becomes a 10.677% shareholder in Thebe after increasing its stake.

Acquisition of a further 48% from the minority shareholders in Thebe Securities (now 100% held) Acquisition of a 21% interest in local plastics manufacturer Safripol Acquisition of 17,9% of JSE-listed building materials company Safic Holdings (Accentuate) Acquisition of a 25% stake in global risk management company Gab Robins South Africa Sale of 30% shareholding in Safrican Insurance to Channel Life (Thebe retains 15% shareholding) Absa becomes a 15.65% shareholder in Thebe after buying Old Mutual’ s and Investec’s shares with Sanlam increasing its stake to 10.677%

Acquisition of further interest in FX Africa Foreign Exchange by Thebe Tourism Group (50.1% now held, resulting in FX becoming a subsidiary) | Thebe receives €8m in funding from Dutch company FMO | Acquisition of 8% stake in consumer-goods manufacturer and distributor Beige Holdings Limited | Acquisition of 6.1% shareholding in Care Cross Health | Sale of 36% in Thebe Healthcare to Care Cross Health (as consideration for the stake acquired in Care Cross) | Acquisition of 15% stake in Safrican Insurance | Acquisition of 25,1% interest in Efficient Financial Holdings | Acquisition of 0.84% stake in Vodacom SA as part of Vodacom’s BBBEE transaction | Thebe concludes a transaction with Shell South Africa Holdings | Acquisition of 25% shareholding in Shell SA Refinery, completing Thebe’s partnership with Shell across all downstream businesses in South Africa | Acquisition of 25% in Thebe Rewards by Thebe Tourism Group (now 100% held) | A dedicated Mergers & Acquisitions department is created and headed by James Alderslade | Thebe formally splits its operations into Thebe Capital, Thebe Tourism and Thebe Enterprises | Monwabisi Fandeso appointed CEO of Thebe Tourism Group.

Acquisition of further interest in FX Africa by Thebe Tourism Group (50.1% now held) Acquisition of 0.84% stake in Vodacom SA as part of Vodacom’s BBBEE transaction Acquisition of 25,1% interest in Efficient Financial Holdings Acquisition of 25% in Thebe Rewards by Thebe Tourism Group (now 100% held) Thebe concludes a transaction with Shell South Africa Holdings with acquisition of 25% shareholding in Shell SA Refinery, completing Thebe’s partnership with Shell across all downstream businesses in South Africa Acquisition of 8% stake in consumer-goods manufacturer and distributor Beige Holdings Limited Acquisition of 6.1% shareholding in Care Cross Health in exchange for 36% in Thebe Healthcare A dedicated Mergers & Acquisitions department is created Thebe formally splits its operations into Thebe Capital, Thebe Tourism and Thebe Enterprises

Acquisition of 24,88% stake in Club Travel (51% now held, making Club Travel a subsidiary) | Lindiwe Gadd appointed Head of Thebe Enterprises | Rapulane Mogogotoane appointed Chief Legal Counsel | Thebe Mining Resources is formed to harness mining resource opportunities emanating from the Mining Charter, with Mpilo Shelembe appointed CEO

Acquisition of 24,88% stake in Club Travel (51% now held, making Club Travel a subsidiary) Thebe Mining Resources is formed to capitalise on mining opportunities emanating from the Mining Charter

Acquisition of 20% interest in Altech Netstar | Acquisition of 25% stake in food services business Compass Group South Africa | Acquisition of 51% interest in Kamnandi Retail (Accessorize) | Sale of Thebe Tourism Group transport business Windward Tours | Assets Under Management reaches R5.5bn as at 31 March 2010 | Thebe disposes of Indwe Risk ServicesThebe disposes of Emid

Acquisition of 20% interest in Altech Netstar in partnership with Identity Partners, who acquire an additional 5% interest Acquisition of 25% stake by Thebe Tourism Group in food services business Compass Group Southern Africa Acquisition of 51% interest in Kamnandi Retail (Accessorize) Sale of Thebe Tourism Group transport business Windward Tours Assets Under Management reaches R5.5bn as at 31 March 2010 Thebe disposes of Indwe Risk Services December 2010 Thebe disposes of Emid

Thebe establishes a Power & Infrastructure division headed up by Pieter Kriel | Thebe establishes Thebe Foundation to drive the overarching Group strategy on community development and to create a framework to support the excellent work being done across the Group, Mokgethi Tshabalala appointed as GM | Sale of Thebe Employee Benefits (TEB) to SALT NO3 (PTY) | Sale of Cunningham Lindsey to Cunningham Lindsey International Europe B.V.

Thebe establishes a Power & Infrastructure division Thebe establishes Thebe Foundation to drive the overarching Group strategy on community development Sale of Thebe Employee Benefits to SALT No. 3 Sale of Cunningham Lindsey to Cunningham Lindsey International Europe B.V. Thebe partners with Mainstream Renewable Power South Africa as part of a bidding consortium for South Africa’s integrated resource plan for electricity 2010 (IRP2010) Mainstream Renewable Power is awarded preferred bidder status to deliver 238MW of wind and solar projects into commercial operation in South Africa by 2014.

Creation of a new divisional portfolio (Thebe Services), housing all customer-facing service businesses March 2012 Thebe disposes of its remaining 15% in Safrican April 2012 Thebe disposes of Creditworx (Pty) Ltd

Thebe partnered with Mainstream Renewable Energy and Globeleq to bid for Window 1 of Round 1 of REIPPP. The consortium was awarded 3 projects, consisting of a 50MW solar project Droogfontein, a 50MW solar project in De Aar and a 140MW wind project in Jeffreys Bay.

Thebe turns 20 and celebrates with Thebe founders, Group employees and other key stakeholders | Thebe acquires 20% interest in Jardine Lloyd Thompson (JLT) | Thebe disposes of Creditworx to Nimble Group | Thebe Enterprises and Thebe Tourism Group portfolio is merged and a new division, Thebe Services is created headed up by Jerry Mabena.

Thebe turns 21 | Thebe establishes a Business Development and Strategy division headed up by Jacques de Wit | Thebe acquires 70% interest in Reatile Timrite (Pty) Ltd (“Timrite”) | Thebe acquires Unico from Shell SA and headed up by James Alderslade | Thebe forms a partnership with Reed Exhibitions International | Thebe revises its Corporate Identity | Thebe launches a group wide digital publication called The Thebe Times

Thebe acquires 70% interest in Reatile Timrite, a mining industry supplier Thebe acquires 100% of Unico from Shell SA Thebe turns 21 Thebe evolves its Mergers & Acquisitions department into a Business Development and Strategy division Thebe forms a partnership with Reed Exhibitions International Thebe revises its Corporate Identity and launches a group wide digital publication called The Thebe Times Sale of 40% interest in Thebe Exhibitions (Thebe now holds 30% and name changed to Thebe Reed)

Thebe partnered with Mainstream Renewable Energy to bid for Window 3 of Round 1 of REIPPP. The consortium was awarded 3 projects, consisting of a 140MW wind project in Khobab, a 140MW wind project in Loeriesfontein and an 80MW wind project in Nouport.

Merger of SSAM and SSAR | Thebe establishes a Resource Incubator to focus on funding early stage resources projects with external funding | Thebe establishes Thebe Ventures as part of the Business Development division, to focus on developing early stage greenfield business

  Thebe partnered with Mainstream Renewable Energy to bid for Window 3 of Round 1 of REIPPP and was awarded 3 projects, in Khobab, in Loeriesfontein and in Nouport Thebe establishes Thebe Connect Thebe establishes a Resource Incubator to focus on funding early stage resources projects with external funding Thebe establishes Thebe Ventures as part of the Business Development division, to focus on developing early stage greenfield business Thebe, through a joint venture, acquired 100% of Compass’ logistics business and named it Thebe Mohebi

Thebe acquired an additional 49.9% shareholding in Cape Point from Murray & Roberts, resulting in Cape Point being 100% held by Thebe. Cape Point forms an important part of Thebe’s tourism strategy which incorporates the management of key tourist destinations.

Thebe acquired 100% of Turnstone Drilling, which fits into the Thebe Energy Resources strategy of investing in companies that operate in mining services and supply sector.

Thebe acquired an additional 49.9% shareholding in Cape Point from Murray Roberts, taking its shareholding to 100% Thebe acquired 100% of Turnstone Drilling Merger of SSAM and SSAR Disposed of Rowmoor and Kamnandi stores.

Thebe acquired an additional 16% shareholding in Compass, taking its total shareholding in Compass to 41%. The transaction has deepened the long-standing relationship between Thebe and Compass and positions Compass for further growth in South Africa. For Thebe, the acquisition is strongly aligned with Thebe’s ambition to grow its footprint in the food and agro-processing sectors.

Thebe acquired this property under a sale and leaseback arrangement. The acquisition is part of Thebe’s strategy to acquire properties with strong fundamentals, long term leases and tenants with a strong credit rating.

Thebe disposed of its 20.8% shareholding in Safripol as part of a transaction whereby KAP Industrial Holdings Limited (JSE:KAP) acquired the entire issued share capital of Safripol. Thebe had acquired its initial shareholding in Safripol in 2007.

Thebe acquired 57% of Sekelo, an oil trading company mainly focusing on domestic trades Thebe acquired 28% in STISA an oil trading company mainly focusing in Africa Thebe acquired 15% of Burgan Cape Terminal a fuel storage company based in Western Cape Thebe acquired an additional 16% shareholding in Compass Group Southern Africa, taking its total shareholding to 41% Thebe (through a joint venture) developed its first student Accommodation, Bertrams Mews Thebe acquired its first sale and leaseback property, 320 South Coast Road Thebe subscribed for a 50% shareholding in Sithole Restoration Services in order to fund the feasibility study for the development of an eco-tourism project, in partnership with a local community, on community-owned land Thebe disposed of its 20.8% in Safripol (that it acquired in 2007) Thebe, through Thebe Ventures, acquired 10% in Consolidated Africa Limited an Australian graphite listed company Thebe disposed of TTG Retail Group Thebe settled its FMO debt.

Thebe has subscribed for a 50% shareholding in the project in return for pre-feasibility and feasibility funding that it has provided. The project provides an excellent opportunity for Thebe to build communities through the development of this project and the associated benefits for the communities that own the land.

Thebe disposed of its 30% shareholding in Thebe Reed to RELX Group. RELX Group, a UK based multinational, were the majority shareholder of Thebe Reed prior to the transaction. This transaction brought to an end the highly successful involvement of Thebe in Thebe Reed, where Thebe has been a shareholder since 2005.

By: Sen Mdhluli The Thebe Esquire workshops have been travelling to various parts of our country. The masculinity programme was designed to be an interactive workshop with Thebe Esquire. The principles of masculinity were explored and guests left with a firm understanding of the differences between behaviours that men and women display, the meaning of being a real man and the responsibilities thereof. While the subject is viewed as taboo and misconstrued as anti-women, it provided a new perspective of how men have surrendered their roles and responsibilities in society. The masculinity programme will continue in Mpumalanga, Cape Town and Johannesburg offices in the next months. The Esquire Forum is structured to be a living forum. Supported by a committee from the various Thebe companies, the forum is driven to create a positive impact in society. The Esquire forum is now embarking on its second phase of its programme, Mentoring @ Work program. The Esquire Mentoring @ work, is a programme that is designed to connect mentors and mentees in the group to create an empowered workforce. The programme simply connects both parties through a platform where they can engage and work through the needs of the individual. It is anticipated that each mentorship should take an average of three months. There are no defined parameters as to what the mentorship subject should be, however, they should be those that impact the way we LIVE, WORK and PLAY.

By: Irene Basson Jerry Mabena talks to the Thebe Times about his vision for Thebe Services. Thebe Services houses Thebe’s service-orientated investments in one portfolio. These investments range from diverse sectors such as media, property, financial services, hospitality and tourism. “Thebe Services wants to become a major player in the services industry,” says Jerry Mabena, CEO of Thebe Services. “We have major investments in tourism, and we are looking to expand our footprint in various other sectors. In the hospitality sector, we are looking specifically at catering; and in the property arena we are looking at student accommodation and affordable housing. In the media sector we are particularly interested in the electronic and digital media arena, as we believe there are incredibly exciting opportunities and we would like to be able to penetrate that,” Mabena says. Thebe Services also boasts a new division, namely the Logistics strand. “This is a growth sector for us,” Mabena says, “as we are looking at supplying fresh produce locally and internationally. We acquired the logistics company almost two years ago and we are excited about the growth that this will facilitate for Thebe Services.” Not only does this division provide a service to the industry, but it also provides a service to Thebe Services. “It has a great double benefit,” Mabena explains, “and this is exactly what Thebe Services is about. It is about finding those synergies and see

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By Sherole Webster & Solly Maanaso As a new member to the Finance Department at TIC, Solly Maanaso has always had an interest in Accounting. He was motivated to achieve the highest qualification in the field to assist him to transform his community. Solly studied towards his Accounting Degree at the University of Limpopo. After being identified as one of the top achievers from a group of 20 top achievers selected to study B Compt., he was awarded a bursary by SAICA and SizweNtasluba VSP to complete his CTAs. Coming from a previously disadvantage background taught him the importance of hard work, excellence and humility. He started his working career at SizweNtsaluba VSP. Solly has also worked for some of the leading banks in the country as well as in the mining industry. Being qualified CA with more than 10 years in financial, audit and accounting experience, Solly has now taken up the position of Group Reporting Manager. He shares some of his top tips for effective personal budgeting. It may prove beneficial to implement some of these tips to work towards a financially sound 2016. 1. Cut your bank fees, unnecessary credit cards and clothing accounts Many of the retail banks have started to reduce the cost of running a current account, so shop around and find the best account for your needs. While you’re at it, check your bank statements and tally all of your regular payments. You may not need some of the goods or services you’re paying for (do you really need that

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By: Irene Basson 2016 is a leap year, meaning it’s your turn to propose to Mr. Right! You might not think that an extra day in February is something worth celebrating, but having a leap year has one very special benefit. According to tradition, women can propose marriage during a leap year – and the most popular day for this would obviously be Valentine’s Day. Where did it all start? During the time of Emperor Claudius II, he found that men reluctant to join the military as they didn’t want to leave their wives or families. As a result he outlawed marriages to get more soldiers to join. Saint Valentine, a priest in Rome disagreed with this cruel law, and continued to marry couples in secret. He was eventually arrested and jailed, sentenced to death on February 14th 269AD. Since then the day is celebrated as Valentine’s Day – a day to celebrate love and give gifts like chocolate, flowers or jewelry (or a Ferrari for the guys ;-)) In the 13th Century in Scotland Queen Mary set the law that women could propose to any man they liked during a leap year. He could only refuse if he was already engaged. If men did reject the proposal, they were fined and made to buy the woman either a silk dress or a pair of gloves. Whether it’s all truth, or complete myth, the tradition lives on. So girls, this year it’s your turn! Be bold and ask the man of your dreams out. Bite the bullet, make it fun, and take the Valentine’s Day Leap Year Proposal opportunity! Who knows, h

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By: Irene Basson Piet Lombard of Thebe Turnstone Drilling gives us insight into the world of mining. Thebe Investment Corporation subsidiary Thebe Mining Resources (TMR) acquired drilling company Turnstone Drilling in April last year, driving the group’s strategy of investing in businesses that provide critical services and supplies to mining sector. Turnstone Drilling was started in 2007 and has an operational fleet of 40 surface drill rigs, with various drilling range capacities and a client base spread across all commodities, including precious metals, ferrous metals, base metals and coal. Through this transaction Thebe Turnstone has achieved broad-based black economic-empowerment (BBBEE) thresholds in line with the requirements of the Mineral and Petroleum Resources Development Act and the Mining Charter. “We believe that the acquisition was strategically beneficial to both parties. There are growing opportunities to service mining companies, especially for majority black-owned companies. We have been able to penetrate the market and grow significantly, despite the challenges the mining industry are facing,” says Piet Lombard of Thebe Turnstone Drilling. The mining industry is a particularly tough business to be in at the moment. “The depressed market due to commodity prices which are so weak globally, combined with labour laws and disputes, makes it quite nerve-wracking,” says Lombard. He is optimistic about the future. “We recently secured an undergrou

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The Kitchen Specialists Association (KSA) was started almost 27 years ago by a group of responsible industry players as a means of self-regulating the local kitchen suppliers’ industry, offering consumers an avenue for recourse and industry members an essential ethical bar, not to mention a means of support, networking, promotion and growth. In 2016, the Association will partner exclusively with Decorex SA in a nationwide collaboration that will benefit both exhibitors and visitors to the trio of exhibitions that have become the country’s most widely attended in the décor, design and lifestyle category. “Decorex is synonymous with style, trends and inspiration and this is an ideal vehicle for our members to showcase their products and services,” says Stephanie Forbes, National Manager for the KSA. “Marketing what we do, and what our members stand for, to consumer and industry professionals is vital for the KSA. The Decorex SA portfolio of shows is well respected and attracts a good mix of consumers and industry professionals alike. We believe that working hand in hand with Decorex SA will bring both organisations an added credibility, not to mention much value to the industry as a whole.” Forbes explains that, in the absence of government regulation of the kitchen industry, the KSA, a not-for-profit organisation, has, over the years, worked tirelessly to offer consumers advise and support in the event of a dispute and to increase cooperation within the industry

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Joshua Studdard, a graduate intern employed by Thebe Ya Bophelo Health, is fast emerging as our youngest up-and-coming boxing star. His training, supplementation and coaching in preparing for his boxing is being sponsored by Thebemed medical aid scheme, with Joshua shining both in the work place and in the boxing arena. Joshua the rising Star As proof of this, his latest skirmish was against Mthobisi Nkosi over the weekend of 6th February, at Emperor’s Palace, where he racked up a fantastic win with ANOTHER first round knock-out. To see just how our very own champion is making his mark please go to our Facebook page to view a blow-by-blow rendition of this, his FIFTH pro fight and his FIFTH knock-out. It appears that nothing can stop young “TKO” from going all the way to the top of his league and beyond! Commentary by Golden Gloves “Joshua Studdard’s right hand has earned rave reviews – and with good reason. The man packs a trip hammer and he unloaded it in explosive fashion to stop Mthobisi Nkosi in the first round. Studdard took his time, soaked up a couple of punches against the ropes, and then dropped the bomb. He has a natural fighter’s instinct and slips punches beautifully; little wonder Berman is high on him.” www.goldengloves.co.za A Champion in the making This commentary garnered from those in the know at Golden Gloves, points to a shining future for Joshua, as he is clearly highly rated as a champion in the making. Catch all the action at Joshua�

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Thebe acquired 51% shareholding in Botha Roodt. After the conclusion of the transaction, Botha Roodt will be the first majority black-owned fruit and vegetable agent in South African. This transaction will allow existing farmers to access a broader range of buyers and it will also allow emerging farmers to access the market.

Thebe disposed of its 50.1% shareholding in Travelex Africa to Travelex, one of the world’s leading independent foreign exchange businesses. Travelex was a shareholder in the business prior to the transaction and holds 100% of Travelex Africa after the transaction.

Thebe acquired a 51% equity stake in Botha Roodt, a fresh produce agency operating at the Johannesburg market Thebe acquired 51% of Clear Asset an online auction company Thebe celebrated its 25th Anniversary Thebe increased its equity shareholding in Kaya FM from 45% to 70.1% A consortium known as Seriti Resources, in which Thebe has a 25% shareholding, acquires the New Vaal, New Denmark and Kriel mines from Anglo America Thebe disposed of its 50.1% shareholding in Travelex Africa to Travelex Thebe disposed of its 30% shareholding in Thebe Reed to RELX Group Thebe disposed of its 51% shareholding in Batsumi to Thebe Foundation

Thebe acquired 51% shareholding in Harvest Fresh Thebe acquired 50.1% in Discover Digital Acquired 25.5% of Biotherm Thebe appoints Sizwe Mncwango as CEO

Thebe increased its shareholding in Compass SA by acquiring the remaining 59% and changed the name of the business to Empact Group. Thebe Acquired 30% of Pride Milling Co Thebe acquired an additional 19.46% shares in Thebe Connect from JSI Trust

(27 August 2020) - The Thebe Board of Directors has appointed Ms Grathel Motau as Thebe Investment Corporation’s Group Financial Director effective 01 September 2020.  She will also serve as an Executive Director on the Thebe Board. Grathel has extensive experience in finance encompassing Operations, Accounting, Auditing, Credit, Corporate Finance, Transaction Structuring as well as Private Equity. She will be leaving Mmoni Advisory Services, where she served as the CEO for the past 5 years. Mmoni Advisory Services is a boutique organization that specializes in transaction advisory services for small and medium sized businesses. A qualified Chartered Accountant by training, Grathel also holds a Master of Philosophy degree in Development Finance from the University of Stellenbosch. She was previously an Audit Partner at KPMG, where she served as a lead engagement partner for several key clients including Eskom Group and Merafe Resources. She held various executive management and advisory roles at organizations that include Blue IQ Investments, National Treasury of South Africa and PetroSA.  She currently serves as one of the independent external members to the Industrial Development Corporation’s Special Credit Committee and FirstRand Group’s Financial Institutions Credit Committee. She holds various directorships as non-executive of several listed companies. “We are excited to have someone of Grathel’s calibre join the Thebe leadership team. In her c

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Thebe Mochokoko, the CEO of TAP Foods, a food distribution and processing company based in Free State, shares with us the impact Thebe Investment Corporation's support has had on his business. Read more

It is not every day that we pause to celebrate the achievements of a formidable leader, Chairman, CEO, Leader, Businessman and doyen of Transformation to name a few of the accolades of Mr Vusumuzi Phillip Khanyile, affectionately known as “Bab Khanyile”. Read More

Within days of being approached earlier this year to assist a number of civil society organisations that assist vulnerable households, the Thebe Relief Fund was established and a rush to raise resources commenced. A plea was sent to all employees and companies within the Thebe Group to voluntarily support this effort, and within days, enough funds were raised to provide an initial 2 100 families with desperately needed food parcels in communities where COVID-19 has greatly impacted food security. Click here to read more

Following the retirement of Mr Vusi Khanyile as Chairman of the Board of Directors at Thebe Investment Corporation, the Board is pleased to announce that pursuant to a comprehensive process, Mr Nhlanhla Nene has been unanimously appointed as the Chairman of the Board of Directors for Thebe Investment Corporation (“Thebe”), effective 25 March 2021. READ MORE

Investments in agriculture are the best weapons in fighting hunger and poverty. The key lies in supporting a large number of smallholder producers and providing them with support to turn their farming into successful operations. READ MORE

The Kaya 959 Board of Directors is pleased to announce the appointment of Sibongile Mtyali as the new Kaya 959 Managing Director effective 1 June 2021. read more

Sekelo Oil Trading, a subsidiary of Thebe Investment Corporation, is pleased to announce the appointment of Lucky Mogashana as the new General Manager effective 1st of June 2021.

National Youth Day, a day where all South Africans commemorate the events of 16 June 1976. It is exactly 45 years ago that the world witnessed a massacre of youth during the Soweto uprisings in 1976 which was sparked by the socio-political landscape at the time. Fast forward to 45 years later, our youth are still fighting for socio-economic transformation.  The staggering 46.3% is the highest youth unemployment rate we have seen, youth being ages between 15-34 years. This requires government, business, nonprofit organisations and society to work hand in hand to find workable solutions that would lead to increased economic opportunities. One of the best places to start is through education support programmes. Thebe has a number of age-appropriate programmes that support youth in varying stages. Thebe’s Literacy and Numeracy Programme supports a total of 17, 054 learners, 16 schools and 294 teachers in the Nkangala and Gert Sibande Districts. It comprises both a language and literacy campaign, as well as a numeracy/mathematics initiative from Foundation Phase (Grades R to 3) to Intermediate Phase (Grades 4 to 7). This approach ensures that a continuum of support is offered to both learners and teachers alike throughout the primary school years. In 2016, the Thebe Foundation established the Dr EJ Mabuza Scholarship Fund. The programme continues to support a total of 59 students, in the current year, through bursaries at various universities across the country.&n

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FOUNDER & CEO AUTHENTIC LEADERSHIP Janine Hills is the Founder and CEO of Janine Hills Authentic Leadership, as well as the Founder and joint CEO of Ignite Africa, an advisory business focusing on crisis and reputation management throughout Africa. Janine’s extensive business knowledge, skills and intricate understanding of reputation management are the outcome of over 38 years of experience across various sectors of industry, including financial services, hospitality and telecoms. Janine was a former head of group communications for First National Bank (FNB), and a founding member of the team that built FirstRand’s eBucks, an e-commerce initiative for FNB’s innovative eBucks programme. She was extensively involved in the formulation and implementation of the multi-brand strategy, internal communications and e-commerce initiatives of the financial services group. Janine’s integrity in business relationships is the foundation upon which she launched a Reputation Management company in 2005. Janine grew the organisation into an African company with global potential. She turned it into a fully transformed, black empowered company and sold it in 2020, before embarking on her new journey with Janine Hills Authentic Leadership. She values any opportunity to share with clients the fruits of nearly four decades of business experience, particularly her understanding of the principles of sound reputation management and good corporate governance. In her rol

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Integrative Doctor, Speaker, Author of ‘Breathe’ and Founder of Breathwork Africa Dr Ela Manga is an integrated medical doctor, author, speaker, facilitator and a leading voice in the field of mind-body medicine and wellness in Southern Africa and abroad. Ela challenges her audience and is not afraid to bring a disruptive element to the conversation. She does this from a place of deep compassion and insight gained through interactions with her clients, continuous scientific research, and a deep knowledge of ancient wisdom. Ela is a sought-after speaker, both locally and internationally, and has a revolutionary way of facilitating groups for profound transformation. She has worked with organisations such as Unilever, Deloitte, Avis, Absa, GiBs, RMB, Nedbank, Bain, Primedia, Hogan Lovell, KLM Empowered, L’Oreal, Xavant, Glucode, CIO Anywhere, Sumbandila Scholarship Trust, and Caleo Capital. Ela is at the forefront of spreading the art and science of breathwork in Africa. She is the founder of Breathwork Africa, an organisation that offers training and support to breathwork practitioners across the African Continent and is committed to empowering individuals and communities with a simple tool for self-awareness and healing. She is an expert in the field of energy management and burnout. Her first book BREATHE: Strategising Energy in the Age of Burnout, is fast becoming the go to guide for managing energy and optimising physical and mental health.

Group Financial Director: Thebe Investment Corporation (TIC) Grathel is a qualified Chartered Accountant with a Master of Philosophy in Development Finance degree from the University of Stellenbosch. She has more than 22 years of business experience from both the public and private sectors in areas that include credit risk, financial analysis, financial management and reporting, auditing, due diligence, corporate governance, supply chain and public speaking.She previously held several roles including Audit Partner at KPMG, where she was the lead engagement partner for several key audit clients including Eskom Group and Merafe Resources Limited and Group Chief Financial Officer for Blue IQ Investments.Grathel also served as a non-executive Credit Committee member of the following: ⬧FirstRand Group’s Financial Institutions Credit Committee;⬧FirstRand Group’s Domestic and Wholesale Credit Committee; and⬧The Industrial Development Corporation (IDC)’s Special Credit Committee. As part of her contribution to the development of social cohesion and giving back to society, Grathel also serves the on the following institutions as a non-executive member/director: ⬧ Trustee for Thesele Education Trust; and ⬧ Africa Leadership Initiative, South Africa.

Businesswoman and Director Nobuzwe is an entrepreneur, with over 17 years business experience at senior management and executive levels. She manages a portfolio of investments in a varied number of sectors including two startups companies that she cofounded: Khwaza Engineering Consultants, a company that offers engineering consulting, facilities management, and project management; and Link- Vantage Supply Chain Solutions, a company that offers Supply Chain Services to the FMCG sector. Prior to venturing into the entrepreneurial space, Nobuzwe was an Executive: Supply Chain Solutions & Projects and a member of the Executive Team at Thebe Investment Corporation (TIC) for a period of 5 years. During her tenure she influenced overall strategic direction and performance management of the organization and led various business improvement initiatives. With time, the role evolved to include responsibility for Group Strategy, Policy Deployment, Brand Management and Stakeholder Engagement. Before joining TIC, Nobuzwe was at the helm of Chevron South Africa as its Executive Chairman. During the 8 years at Chevron she also led Strategy Development, Business & Capital Planning, Government Relations, and Pricing Management for the organization. A member of the Institute of Directors (IoD), Nobuzwe has proven leadership capability and has extensive experience in Leadership, Strategy Development, Supply Chain Management and General Business Management.

Former Chairman of the Board and CEO: TIC Member of the State-Owned Enterprise Council A formidable Business Leader, Former Chairman and CEO, Businessman and doyen of Transformation. Mr Vusumuzi Phillip Khanyile is affectionately known to the Thebe Community as “Bab Khanyile” Bab’ Khanyile officially retired from the Thebe Investment Corporation as its Non-Executive Chairman of the Board of Directors on 30 October 2020, bringing to an end an illustrious 28 selfless years of dedication and servant leadership at Thebe. He devoted his entire life to the organisation, initially as its first Managing Director / CEO, thereafter as the Executive Chairman and lastly as Non-Executive Chairman. In all these roles Mr Khanyile served with true diligence, passion and humility, nurturing Thebe and its people through its peaks and troughs while growing the business from strength to strength over the years.   He served as an inspirational, charismatic, and fearless leader of Thebe since 1992, taking the business from a R100 000 seed capital to an investment company that today has over R11 billion Total Assets (R8 billion Equity Value). We can count many companies where Mr Khanyile has been quite instrumental, such as Thebe Property Asset Management (1993), KayaFM (1997), Cape Union Mart (2000), 25% in Shell (2002), Compass Group (2010). The list is too long to mention. In June 2020, Bab’ Khanyile was appointed by President Cyril Ramaphosa to join the Presidenti

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Founder and CEO:  Sifiso Learning Group Sizwe Nxasana, retired executive and founder of Future Nation Schools. Sizwe Nxasana (62) was one of the first 10 African CAs (SA) in South Africa. Among others, he started Sizwe & Co, KwaZulu-Natal’s first black audit firm, in 1989, and in 1996 he became the founding partner of Nkonki Sizwe Ntsaluba, now SizweNtsalubaGobodo (SNG Grant Thornton). He founded Future Nation Schools, a chain of affordable private schools, after he retired in 2015. He also founded the Sifiso Learning Group and is the co-founder (2013) and chairman of the National Education Collaboration Trust (NECT) as a response to the call by the National Development Plan (NDP) for increased collaboration among stakeholders to improve educational outcomes. He was appointed chairman of the National Student Financial Aid Scheme in 2015 and chairman of Ikusasa Student Financial Aid Programme which funds and support students pursuing occupations in critical skills from ’missing middle’ backgrounds. Prior to his retirement, Nxasana was the CEO of the FirstRand Banking Group and before that the CEO of Telkom SA.

Chairman of the Board: Thebe Investment Corporation Mr Nene, a renowned economist, has more than 20 years’ experience as a board member and executive officer of public and private companies in a wide variety of industries with a strong track record of building and maintaining stakeholder value. His active role and contribution to a nation building agenda and serving in government positions sees him being held in high regard by captains of industry in private sector and government alike.  Mr Nene has contributed to some of Thebe’s most strategic decisions made during his tenure as Thebe’s resident advisor from May 2016 to February 2018.  Furthermore, in 2020 he was appointed as a Non-Executive Director to the Thebe Board. In addition, he was previously instrumental in driving growth in the Food & Agriculture business unit in his role as Chairperson of Thebe’s single largest controlled investment, Empact Group.  An astute economist, Mr Nene holds a B. Com Honours degree in Economics, an advanced Diploma in Economic Policy from University of Western Cape as well as a Diploma in Marketing Management from DMS, a Certificate in Economic Policy from University of South Africa and a Certificate in Macro and Microeconomics from the University of London. Mr Nene is current Chairperson of the Pan African Arise Bank and serves as the Non-Executive Director of the newly established SA based Grobank. Further to this he serves in a diverse number of e

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Chief Risk Officer: FirstRand Group Gert Kruger is the Chief Risk Officer of the FirstRand Group. He is responsible for risk management across all risk classes. He is a member of the group strategic executive committee as well as the board risk, credit, and audit committees. Gert is a qualified chartered accountant and holds a master’s degree in Financial Economics from the University of London. Gert has more than 20 years of treasury, investment banking and retail banking experience in a variety of roles working in South Africa and the UK. Gert is also responsible for leading the Covid-19 response programme (both resilience and societal support responses) as well as leading the Group’s Climate Risk Management programme. Outside of work Gert is passionate about coffee (he is a qualified barista) and is a keen supporter of emerging South African artist (he chairs the FirstRand art acquisition committee). He enjoys running and tennis. He is married and has three boys.

Chief Risk Officer: Industrial Development Corporation (IDC) Josephine Tsele has extensive risk management experience across multiple sectors and regions. She has worked for the Corporate and Investment Banking divisions of Standard Bank, Absa and Nedbank in senior roles that include Head: Country-Risk; GM: Global- Financial-Institutions; and has worked for the DBSA (International Division) as Divisional Executive-Risk Management, with responsibility for the Equity Partnership unit. At Standard Bank risk department Josephine had the primary responsibility for CIB’s South Africa portfolio, including the Durban and Cape Town regional offices; and lately as the Executive: Risk-Assurance, she had the mandate to carve out the operating structure and implementing a fit-for-purpose global assurance model for CIB. Josephine chaired CIB credit committees and was a voting member of all the Risk Committees and of CIB-SA Exco Standard.

Chief Executive Officer: Nelson Mandela Children’s Fund Kone is a Chartered Accountant (SA) with more than 20 years working experience, spanning over the financial services sector and development finance. After graduating from Rhodes University and University of Natal, she commenced her career with articles at the audit firm Moores Rowland in Cape Town. On completion of articles, she worked at various banks including Standard Corporate and Merchant Bank (now Standard Bank CIB), JP Morgan and Nedbank, gaining experience in credit risk management and investment analysis.  She also gained exposure to private equity management through her time at Safika Holdings. With a passion for development, Kone spent 5 years heading up the Nedbank Foundation, the primary CSI arm of the Nedbank Group. During this time, she had the opportunity to drive the CSI strategy of the bank, which mainly aimed to make the group a catalyst for upliftment in our communities with a major emphasis being placed on sustainability. Following her time at Nedbank, Kone expanded her development finance experience when she joined the Land Bank as the Chief Risk Officer in 2015. While her primary responsibilities related to the identification, mitigation, and management of all risks for the bank, Kone also emerged as quite a dynamic leader for the bank, capable of being deployed to various other areas including Acting Company Secretary, Acting Chief Financial Officer and Acting Chief Executive Offi

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Fund Manager: National Empowerment Fund (NEF) The Acting Divisional Executive: Venture Capital and Corporate Finance at the National Empowerment Fund (NEF). In this role she oversees the operation of two investment units: Strategic Project Fund which focuses on early-stage project development and uMnotho Fund which provides new venture, expansion, and acquisition Finance. She oversees the NEF’s Women Empowerment Fund. She is a qualified Chartered Accountant with over 16 years’ experience in development finance, corporate finance, private equity and external audit. She has multi-sector experience having concluded deals in manufacturing, agro-processing, transportation, property, financial services, tourism, TMT, franchising, retail, and construction. Zama is the President of the African Women Chartered Accountants’ forum (AWCA), a not-for-profit company whose activities are centred around growing the quantity and quality of black (AIC) female Chartered Accountants.

Group Chief Executive Officer: Thebe Investment Corporation (TIC) Sizwe Mncwango is a seasoned professional with extensive experience in energy and energy related investment spanning over the last 29 years. Prior to his current role, Sizwe was the CEO of the Energy & Resources Division of Thebe since 01 April 2015. Before joining Thebe, Sizwe was the Chief Executive Officer of the Central Energy Fund, a state-owned SA entity focussing on oil, gas, coal, renewable and alternative primary energy sources. Sizwe holds a Bachelor of Science and a Master of Science degrees, both in Civil Engineering from Northwestern University, Chicago USA, as well as a Master’s degree in Business Administration from the University of Cape Town, South Africa. Over the past two decades, Sizwe has held various key and influential executive roles at BP in South Africa including that of a BEE Project Manager. It was during his tenure in this role in 2001 that Sizwe was instrumental in brokering the sale of 25% of BP SA shares to Historically Disadvantaged South Africans. The structure and design of this transaction would later pave the way for the formation of Masana Petroleum Solutions. Masana, an operating Joint Venture in the wholesaling of petroleum products, was formed in 2005 by BP SA and its then empowerment partners MIC and WDB. It was a first of its kind in the sense that it was run, managed and controlled by HDSAs. To date, Masana still epitomises excellence in black opera

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EY Africa Assurance Leader In his role as the Africa Assurance Leader, Stephen leads the EY South Africa Audit, Forensics and Financial Accounting Advisory Services. He also represents EY in matters relating to Audit and Accounting. Stephen is also the Chairperson of the SAICA Assurance Leaders ForumStephen was previously Partner in our Finance Performance Improvement business, and has held various roles in our Tax business. He started his career at EY in 2001 and made Partner in 2014.Stephen has served in different parts of the EY business and is a true product of our multi-disciplinary model. A qualified Chartered Accountant and Registered Auditor, Stephen holds a Bachelor of Commerce Degree in Accounting (Honours). Having served clients in the Public Sector, Stephen uses this experience to support our clients in Public Finance Management and Transferred Skills. In his role Stephen’s primary responsibility is to ensure that the firm serves public interest through the delivery of High Quality Audits and therefore strengthening confidence in our capital markets. He also mentors emerging entrepreneurs in the FinTech space.

After completing my BTech in Public Relations Management and graduated in 2021, I was excited and hopeful to enter the job market and start my career. Read More

HarvestFresh, a large commercial fresh produce agro-processor and a member of the Thebe Investment Corporation Group of companies recently launched its new processing facility, increasing its production capacity by 100%. The increase in capacity of the processing facilities seeks to enable HarvestFresh to keep up with its clients demands and growth.  The clients serviced by HarvestFresh include the four big South African chain stores: Freshmark, Pick n Pay, Woolworths and Spar, to mention a few. Their wide range of products is supplied into various provinces in South Africa. Situated in Meyerton in the Midvaal District Municipality, HarvestFresh was founded In 1994 by George and Tracey Maxted, and has since become a major supplier of quality fresh produce. Their main product is ready-to-eat leafy green vegetables and salads i.e., lettuce, spinach, kale, cabbage, broccoli, cauliflower, carrots, spring onions, leeks, and herbs. Most of the produce is grown in soil from seven different locations while the remainder is hydroponically grown. The Midvaal area caters for the summer crop production which is in August to May. The company sources their crop from outgrowers as far out as Brits and Marble Hall mainly during the winter season. The company is a significant contributor to employment as it employs over 500 full time employees. An additional 250 seasonal workers are hired depending on seasonality requirements. The recently launched processing facility is e

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More than 25 years after the first big empowerment deals were done in SA, the collective value of black-controlled entities on the JSE is just over 2% of the bourse’s roughly R20-trillion market cap. While there are plans to turn things around, unlisted BEE investment outfits seem less than enthused. Read more

25 March 2024: A consortium led by African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers and a division of Old Mutual Alternative Investments, and also comprising STOA, a leading impact fund in infrastructure and energy dedicated to developing and emerging markets, and Thebe Investment Corporation, today announced that it has signed an agreement to acquire Octotel, a leading South African fibre network operator. Read More