Lebashe is a 100% black-owned unlisted investment holding company with an experienced, multi-faceted management team. The Company has grown significantly since inception and the vision is to become a leading African investment company by focusing on three core investment silos: Financial Services, ICT and Industrial Technology and Complementary Sectors.
At Lebashe’s core, is an aim to create a balance sheet that outlives its creators and produces generational wealth by establishing a conglomerate of companies that can collectively operate in an eco-system. Lebashe will become a template for aggregating and partnering entrepreneurs with a vision of building a legacy balance sheet.
BOARD OF DIRECTORS
Lebashe’s portfolio of companies is supported by directors whose experience and skills are complimentary and their collective effort is greater than the sum of the parts. The exposure to and involvement in the operations and offerings of Lebashe’s investee companies has grown the knowledge and skill-set of the team. Lebashe continues to seek further opportunities to actively garner the operational and market expertise with an aim to fulfill its strategy of becoming a leader, both as an investor and operator, in its field.
Mr Tshepo Mahloele, the presiding Chairman and one of the founding principals of the Lebashe Investment Group is the Chief Executive Officer of Harith General Partners (‘’Harith’’), and one of the originators of the US$630 million Pan African Infrastructure Development Fund. Mr. Mahloele previously headed the Corporate Finance and Isibaya Fund divisions of the Public Investment Corporation SOC Limited (“PIC”).
At the PIC, Mr. Mahloele actively implemented the organizations’ Black Economic Empowerment strategy, where he concluded R13 billion worth of transactions over three years and a new strategy for the Isibaya Fund which achieved a 45% return for the 2003 / 2004 financial year and 40% return for 2004 / 2005 financial year. He is the recipient of three recognition awards from the Association of Black Securities and Investment Professionals for his work, including the CEO of the Decade award (2014).
Mr. Warren Wheatley CA(SA), CFP, Post Graduate Diploma in Corporate Finance, Post Graduate Diploma in Financial Planning Law, Post Graduate Diploma in Auditing. Warren Wheatley is the Chief Investment Officer of Lebashe Investment Group along with being one of the founding principals. Coupled with this, he is the founder of TSS Capital (Pty Ltd) and its Chief Executive Officer. Warren is a non-executive director of Aluwani Capital Partners, Broll Property Group and the Financial Planning Institute of South Africa.
Warren gained a significant amount of experience whilst he worked as an Investment Banker and Wealth Manager at ABSA Capital. Here, he managed a portfolio of ultra-high net worth families and their investment decisions. Prior to this, Warren was at Alexander Forbes and served in various roles within the institutional consulting and actuarial business. Being head of one of the Consulting and Actuarial Branch in Sandton coupled with his previous experience of being Principal Consultant to a number of high profile corporate clients gave Warren further exposure in the investments arena.
Mr. Jabu Moleketi has the following degrees: Advanced Management Programme (Harvard Business School), MSc (Financial Economics) and post-graduate diploma in Economic Principles. He was the Deputy Minister of Finance of South Africa from 2004 to 2008. During his tenure as such he also served as the Chairperson of the PIC, during which he gained his exposure to and experience with investments; which in turn afforded him positions as the non-executive Chairman on a number of boards.
He is currently a non-executive Chairman of Pretoria Portland Cement Limited and Brait Societas Europaea (which is listed in Luxembourg with a secondary listing in the JSE). He also serves as a non-executive director of MMI Holdings Limited and Aluwani Capital Partners (Pty) Limited. In the telecommunications industry, he serves on the Board of Vodacom Group (Pty) Limited and the Chairman thereof. He also serves on the Board of Remgro Ltd.
BALANCE SHEET RESTRUCTURE
During the first quarter of 2018, we undertook a debt and balance sheet re-organisation. The purpose of the restructure was to achieve the following:
- Structure the financial services business units under a single structure which allowed for potential synergies and cross selling opportunities to be optimised;
- Organise the various businesses into a structure that would facilitate either additional investors (staff and/or share financed acquisitions) or the sale or listing of the group;
- Repay current debt and replace with longer term debt instruments to match the asset and cash flow profile of the group;
- To create access to accumulated equity, for growth purposes, without having to sell assets or incur expensive short-term debt.
To that end, Lebashe approached the capital markets for funding.
The following institutions were approached: Investec, Standard Bank, PIC, JP Morgan, Sanlam, ABSA and Deutsche Bank.
Having received proposal from most of the approached funders and following a rigorous assessment and ranking process, we accepted funding from ABSA Capital.