|
|
|
|
|
|
| ||||
Price war drives Mercedes into the re... Snarl-up in Midrand's development queu... Treatment for the galling cost of being ... Big Mac shows rand is underbeefe... 'Sweeping reform' the only way, Swiss te... Job market takes on international flavou... Sanco accepts the civility of profi... SA's best business read comes in a new p... IDC buys 20% more of local Siemens... Money's spoor leads to the marke... Tourism not laying golden eggs for S... Adding up the ounces in new way ... Government rumblings have insurers runni... Glint of fabulous wealth in 'heart of da... |
Sanco accepts the civility of profit
EMPOWERMENT
THE SA National Civic Organisation has come a long way from the days when it used to organise bond boycotts in the townships. It is now taking advantage of business opportunities through its investment arm, Sanco Investment Holdings. "We have repositioned the organisation towards empowering the community - with the emphasis on skills development, education, and employment," says executive director Eugene Ruiters. SIH is backed by Liberty Life, which holds 16%, and Malaysian investor Dato Samsudin, who has a 10% stake. SIH has acquired minority holdings in a number of companies. At the beginning of April it acquired 3% in listed tourism group Tourvest, valued at about R10.5-million. Tourvest in turn took a 20% shareholding in SIH's tourism subsidiary, Sanco Tourism. Other investments include 20% of Naledi Petroleum, the joint venture between Sasol and black fuel retailers, 16% of Vula Communications, which is involved in establishing a global satellite telephone system, and a 20% interest in construction group Tolcon. SIH also has a joint venture agreement with UK firm Biwater to bid for the rights to manage Nelspruit's municipal water services. Ruiters explains that SIH is controlled by Sanco office bearers. The trust's purpose is to redistribute the profits to the "people who need them most, Sanco's members", who the organisation claims number 6-million.
|