Thebe Launches SA Express Airways

Thebe Launches SA Express Airways

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)



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