investment management

Prudential Portfolio Managers SA (Pty) Ltd.

A key component of our success is investment management, and we are proud of our 15% stake in Prudential Portfolio Managers South Africa (Prudential). One of our founders, Thabo Leeuw, is a non-executive director on the Prudential Board, and is also the Chairman of the Transformation as well as the Audit and Risk sub-committees of the Board. Sibusiso Mthembu also serves on the Board and Audit and Risk sub-committee.

Makalani Management Company (Pty) Ltd

Together with two other BEE companies – WDB Investment Holdings and Tamela Group – we invested in the management company of Makalani Holdings. Makalani Holdings provides a specialist platform for the mobolisation of capital aimed at the provision of mezzanine finance for investment in Financial Services Charter complaint opportunities. Following a strategic review, all of the partners in the management company agreed that Makalani Manco is best positioned if owned by a single shareholder and hence Thesele, WDB and Tamela have now exited this investment leaving Rand Merchant Bank as the sole shareholder.