'Mellow' Combi to keep PSG local
After 10 years on the board, Combi takes the reins from founder Jannie Mouton
PSG Group's new chair has never lived in Stellenbosch. "Not a day in my life," Zitulele "KK" Combi told Business Times this week. Now the Capetonian is at the helm of an investment holding company woven into the Boland town's tapestry as deeply as tourists, students, oak trees and wine. PSG is worth about R60bn and has valuable stakes in Capitec Bank, private-schools group Curro, agri-investor Zeder and brokerage business PSG Konsult. While others have looked to foreign shores for returns, this Stellenbosch-based group has kept it local. And that is not about to change. "We think there is still a lot to achieve in SA," Combi said. "The backbone and DNA of PSG has always been South African." Curro's campuses are increasingly feeding the demand for paid-for education in SA. Capitec has millions more of the other big South African banks' clients to lure away. Combi sees a lot of runway for the companies in the PSG stable. But he adds that lucrative foreign opportunities would at least ...
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