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