" 'Black-owned companies need to do more to drive an agenda to empower the masses' As Shanduka celebrated its 10th year in business, CEO Phuti Malabie said South Africa needed more focus on aspects such as skills development, training, education, enterprise development, employment and procurement to ensure true empowerment.

"Given the fact that black-owned companies have had that enablement factor to enter the market I feel that such companies really need to do more to drive an agenda to empower the masses," she said.

With the dawn of democracy in South Africa, the government set out to not only change the political status in the country that had been under apartheid rule for 46 years, but to also uplift those who were economically marginalised by the system, by putting policy measures such as BEE and employment equity in place.

However, while all South Africans now have full political rights as citizens, some say economic reforms have only seen a handful of black South Africans become rich while the majority remain poor.

The country has one of the highest unemployment rates in the world, at 25%.

Malabie said there had been a strong emphasis on black ownership in South Africa since empowerment policies were introduced after the 1994 elections.

"There is definitely a need for strong and influential black players, who are also backed by capital, to drive future transformation initiatives," she said - but Shanduka was also pushing for transformation within itself and the companies with which it does business.

Malabie said Shanduka was committed to spending R100-million over a 10-year period up to 2014, to educate and train people. "It seems that we will even surpass this figure by 2014.

"However, our influence is sometimes limited to the significance of our shareholding in the businesses," she said.

The black-owned investment company has evolved from simply taking minority stakes in companies through partnerships to owning and operating large stakes in corporate businesses such as McDonald's, Coca-Cola and several resource companies. Shanduka also has investments in the renewable-energy sector, property, telecommunications and financial services.

This has given Shanduka the footing to drive transformation in several industries, with the guidance of one of South Africa's most influential businessmen, Cyril Ramaphosa, who founded the company in 2000.

Malabie, who has received many accolades for her leadership abilities, said working for Ramaphosa was a big drawcard when she made the decision to take up a position in Shanduka seven years ago. "Cyril has a very hands-on approach and is involved in every aspect of the business."

She said she viewed her role in the company as the "conductor of an orchestra": Shanduka has a team of highly skilled people who are experts in the fields in which they operate, while she coordinates and drives activities in line with the group's strategy and vision.

Shanduka seeks to grow by creating value in its current businesses, over and above any prospects for new acquisitions.

In addition, it will be looking to make further inroads into the rest of Africa. "Africa is a different landscape, but we understand the difficulties of operating in new markets and see many great opportunities through various partnerships on the continent," she said.

The group has an enterprise value of R30-billion and holds strategic stakes in 22 listed and unlisted companies. Malabie said the group would continue to grow the brand.

By: Loni Prinsloo
Business Times