This book includes a plain text version that is designed for high accessibility. To use this version please follow this link.
SOUTH AFRICA Committed to Transformation


While Shanduka has graduated from being narrowly seen as merely a ‘black economic empowerment company’, economic empowerment and transformation remain central to its mission and activities. Shanduka is an established company that is black- owned and -controlled. Total black ownership is 51%, of which 18% is held by broad-based trusts.


Shanduka views education and enterprise development as critical to the country’s development, and therefore invests much time, resources and energy in these areas.


In 2004, the company established the Shanduka Foundation and committed R100 million to the foundation over 10 years. In addition, the foundation holds around 3% of the group’s shares. These resources enable the foundation to pursue school development, entrepreneurial development, access to higher education opportunities for deserving students, and work experience opportunities.


“For Shanduka, the foundation is a lot more than corporate social responsibility. It is central to our mission and our ethos. Every employee contributes financially and through the dedication of time to the work of the foundation,” Ngobeni says.


The Shanduka Foundation has a number of entities through which it carries out its social investments:


• Adopt-a-School Foundation fills an important gap in the provision of quality schooling. It mobilises companies and individuals to support the creation and enhancement of a conducive


learning and teaching environment in disadvantaged schools. Over 170 schools are currently under the adoption programme. Since inception it has built over 265 school facilities, creating over 3 500 temporary jobs and benefiting over 240 small and medium-sized businesses.


• Shanduka Black Umbrellas nurtures qualifying 100% black-owned businesses in the critical first three years of their existence by providing incubators that have office infrastructure, professional services and a structured mentorship programme at a highly subsidised rate It has incubators in Cape Town, Johannesburg, Pretoria and Durban.


Shanduka views education and enterprise development as critical to the country’s development, and therefore invests much time, resources and energy in these areas.


• Cyril Ramaphosa Education Trust was established in 1996 to provide bursaries to deserving students, enabling them to continue their studies in business related courses.


• The Shanduka internship programme was formally instituted in 2010 to provide experiential training for selected learners


and job seekers. Since then, 34 candidates have been placed within Shanduka Group and across its partner network. The programme aims to have provided structured and effective workplace experience to around 100 intern candidates within a five year period.


Shanduka has established itself as a credible partner that adds value to the businesses in its portfolio. It participates at board level in many of its investee companies and at an operational level in companies in which it has a significant stake. This enables it to provide strategic direction, drawing on a broad range of expertise and experience. In addition, it has agreements with a number of


its partner companies that


facilitate Shanduka’s participation in empowerment and transformation processes in these companies.


Once asked what advice he would give to ambitious finance professionals, Ngobeni said: “Be patient. The money, the fancy sports car and that posh big house you have in mind, they will come in time. First you have to earn respect with the things you do – then the rest will follow. Prove your worth, and earn people’s respect instead of demanding it.”


Given his achievements at Shanduka, David Ngobeni is clearly able to follow his own advice.


AFRICA


Finance Monthly CeO AwArdS 2013 71


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83