01 Jan Thebe Properties is Established
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.”