New Africa Investments Limited (Nail) was a South African investment company known as a major player in early black economic empowerment.
The company originated in 1993 in what is often identified as the first informal black economic empowerment (BEE) transaction, the sale by Sanlam of Metropolitan Life shares to a black-owned company initially called Metlife Investment Holdings (Methold). [1] [2] In August 1994, Methold listed on the Johannesburg Stock Exchange as New Africa Investments Limited (Nail). [1] Nthato Motlana's Corporate Africa owned 51 per cent of the company, and Motlana became chairman. [3] In 1999 Motlana was forced out and Nail's ownership structure was reformed. [4]
The economy of South Africa is the largest economy in Africa, it is a mixed economy, emerging market, and upper-middle-income economy, one of only eight such countries in Africa. The economy is the most industrialised, technologically advanced, and diversified in Africa. Following 1996, at the end of over twelve years of international sanctions, South Africa's nominal gross domestic product (GDP) almost tripled to a peak of US$416 billion in 2011. In the same period, foreign exchange reserves increased from US$3 billion to nearly US$50 billion, creating a diversified economy with a growing and sizable middle class, within three decades of ending apartheid.
Patrice Tlhopane Motsepe is a South African billionaire businessman and football administrator. Patrice Motsepe was born to Kgosi Augustine Motsepe, a chief of the Mmakau branch of the Tswana people. Since March 2021, he has been president of the Confederation of African Football. He is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. He sits on several company boards, including being the non-executive chairman of Harmony Gold, the world's 12th largest gold mining company, and the deputy chairman of Sanlam. He serves on the Board of Trustees of the World Economic Forum.
Prudential plc is a British-domiciled multinational insurance and asset management company headquartered in London and Hong Kong. It was founded in London in May 1848 to provide loans to professional and working people.
The Sowetan is an English-language South African daily newspaper that started in 1981 as a liberation struggle newspaper and was freely distributed to households in the then apartheid-segregated township of Soweto, Johannesburg, Gauteng Province.
The Mail & Guardian, formerly the Weekly Mail, is a South African weekly newspaper and website, published by M&G Media in Johannesburg, South Africa. It focuses on political analysis, investigative reporting, Southern African news, local arts, music and popular culture.
Black Economic Empowerment (BEE) is a policy of the South African government which aims to facilitate broader participation in the economy by black people. A form of affirmative action, it is intended especially to redress the inequalities created by apartheid. The policy provides incentives – especially preferential treatment in government procurement processes – to businesses which contribute to black economic empowerment according to several measurable criteria, including through partial or majority black ownership, hiring black employees, and contracting with black-owned suppliers. The preferential procurement aspect of BEE has been viewed as paradigmatic of a sustainable procurement approach, whereby government procurement is used to advance social policy objectives. So-called "BEE deals" – transactions aiming to increase black ownership of large businesses – have been conducted on a large scale, with BEE transactions concluded between 1994 and 2005 valued at between R150 billion and R285 billion.
Investec is an Anglo-South African international banking and wealth management group. It provides a range of financial products and services to a client base in Europe, Southern Africa, and Asia-Pacific.
Chancellor House is a South African holding company managing investments in the mining, engineering, energy and information technology sectors. It is named after Chancellor House, the building where the law firm of Nelson Mandela and Oliver Tambo was located.
Arena Holdings, formerly known as Tiso Blackstar Group, Johnnic Communications, Avusa and the Times Media Group, is a South African media company based in Johannesburg, South Africa. It publishes several major South African newspapers, including the Sunday Times, Business Day, Financial Mail, Herald, Sowetan and Daily Dispatch. It acquired its current name in 2019 when it was acquired by Lebashe Investment Group, the current owner of the company.
Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. Sanlam is one of the largest insurance company in Africa. It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X. Established in 1918 as a life insurance company, Sanlam Group has developed into a diversified financial services business. Its five business clusters comprise Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate and Santam.
Hlumelo Biko is a South African businessman and investment banker. He is the son of Steve Biko and Mamphela Ramphele.
African Bank Limited, is a retail bank in South Africa, that offers financial products and services. The Bank is licensed as a "locally controlled bank" by the South African Reserve Bank (SARB). Headquartered in Midrand, South Africa, the bank has a countrywide branch distribution network in addition to a full digital channel offering; as well as sales, collections and customer service Contact Centres.
Coronation Fund Managers is a South African third-party fund management company, headquartered in Cape Town. The company has locations in all South African major centers and offices in, Ireland, United Kingdom and in Namibia where it is represented by Namibia Asset Management a strategic partner. As of December 2019 the company had Assets under management of R578 billion.
Dr. Nthato Harrison Motlana OMSG was a prominent South African businessman, physician and anti-apartheid activist.
Zwelakhe Sisulu was a South African black journalist, editor, and newspaper founder. He was president of the Writers' Association of South Africa, which later became the Black Media Workers Association of South Africa, and he led a year-long strike in 1980 for fair wages for black journalists. Under apartheid, he was imprisoned at least three times for his journalism. After apartheid ended, he became the chief executive officer of the South African Broadcast Corporation.
Sanlam Kenya plc is an insurance, investment and retirement group based in Kenya.
Mcebisi Hubert Jonas is a South African politician and businessman who was the Deputy Minister of Finance of South Africa between May 2014 and March 2017. He is best known as a state capture whistleblower. In 2016, he publicly alleged that the Gupta brothers had offered him the post of finance minister under President Jacob Zuma.
MiWay Insurance is the first South African-based direct insurance company to offer the purchase and administration of short-term insurance policies online. MiWay was launched in 2008 as an initiative between Santam, Sanlam and PSG.
Senzo Brian Mfayela is a South African businessman and former politician who represented the Inkatha Freedom Party (IFP) in the National Assembly from 1994 to 1999. He is the chief executive officer of Mangosuthu Buthelezi's Buthelezi Foundation.
Empowerdex (Pty) Ltd is a South African company which provides services related to Black Economic Empowerment (BEE) compliance. Founded in 2001, it was an early pioneer in the industry of independent BEE verification and ratings. It also conducts research on BEE uptake and provides private advisory services on BEE compliance.