(Yuichiro Chino/Getty Images)
The Thebe Investment Corporation, which is 50% owned by the Batho Batho Trust (BBT) and 50% owned by management, is to restructure its shareholding to increase the trust’s stake to about 70%.
The BBT, set up by Nelson Mandela and Walter Sisulu in 1992, is principally a trust to benefit the ANC, although this is not explicitly stated in the trust deed. Also in 1992, the BBT funded the founding of Thebe with R100 000 seed capital to create an investment vehicle to provide income for the trust.
The company now has interests in energy, resources, services, and petrochemicals.
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