Over the Years
In 1985, the Kagiso Trust (KT) began its development work to help promote the struggle against apartheid.
Archbishop Desmond Tutu co-founded the Trust with other stalwarts like Dr Beyers Naudè, Reverend Frank Chikane, Dr Max Coleman, Dr Alan Boesak, Dr Abe Nkomo, Father Smangaliso Mkhatshwa, and Eric Molobi, and took on the arduous task of trying to persuade the European Union to impose sanctions on the South African apartheid government.
In 1985, the EU agreed to impose partial sanctions on South Africa and also decided, through its Special Programme for the victims of apartheid, to support projects that promoted non-racialism and capacity development among those disadvantaged by apartheid.
They indicated that they wanted to allocate development funds using three channels, namely: South African Council of Churches (SACC), the South African Catholic Bishops conference, and a third secular channel, KT.
Establishment of KTI
KTI was established in December 1993 as an investment company under the stewardship of the late Eric Molobi, as a vehicle to generate sustainable, long-term financial support for Kagiso Trust (KT).
Initially focused on purchasing minority equity stakes in unlisted companies that promised exceptional growth opportunities, KTI was capitalised with loan funding of R26-million from KT and JP Morgan, and later with R50-million from each of Liberty Life and Nedcor Investment Bank.
KTI evolved into a diversified investment company with financial, industrial, and mining interests. The portfolio of businesses was restructured into three pillars, namely: financial services, resources, and industrial. The core business areas of the financial pillar were investment banking services, life insurance, and short-term insurance. The resources pillar included a joint venture in a platinum mine. The industrial pillar focused on media and ICT services, and the industrial sector.
Establishment of Kagiso Media by KTI to manage its media portfolio and listing on the Johannesburg Stock Exchange (JSE).
Tiso Group (Tiso) was established in 2001 and was one of South Africa’s leading black-controlled and managed investment companies. Founded by leading African entrepreneurs, David Adomakoh and Nkululeko Sowazi, it was a business largely owned and controlled by its management and staff.
Tiso also had a successful shareholder relationship with financial institutions such as Standard Bank, Investec, Rand Merchant Bank, and the Liberty Group, which provided the seed capital to form the company. Over time, Tiso built a strong and defensive investment portfolio, with stakes in blue-chip companies in the infrastructure and natural resources sectors. Its portfolio also included strategic holdings in construction, steel supplies, coal, industrial minerals, mining services, power, and property development firms.
Remgro purchased the Liberty and Nedcor stakes held in KTI.
KTH was established
KTH was established on 1 July 2011 from the merger of two leading black-owned and managed companies, KTI and Tiso Group (Tiso). The merger created a sizeable investment company of critical mass, with access to larger transactions and increased investment portfolio diversification.
Acquisition of all of the shares of Kagiso Media – a significant milestone for transformation on the South African landscape.
Investment into rest of Africa begins with obtaining a stake in Fidelity Bank Ghana.
Investment into MeCure Healthcare in Nigeria.
Acquisition of a majority stake in Servest Group.
Debt raised of R800 million on the JSE through the bond programme.
Tiso exits KTH through multiple inter-connected steps whereby Tiso sold its shares in KTH to Kagiso Capital and KTH repurchased the remaining shares held by Tiso.
CEO and CFO
Paballo Makosholo is appointed group CEO and Tshepo Setshedi group CFO.
KTH acquires a majority stake in Futurewise, a digital-first education financial services provider