10 BEE contenders to watch
Two of them are unlisted, but Thebe almost certainly soon will be listed, and investors can buy Sabvest shares for an indirect stake in Masimong
Thebe Investments: Though Thebe is unlisted, the FM reckons it’s only a matter of time before this pioneering empowerment venture revives its 2018 plan to come to market. A listing could speak to future funding needs, though Thebe appears well capitalised at present. Its attraction lies in the access it provides to some top-quality unlisted assets in the energy and resources sectors (its dozen-odd investments have a collective value of about R10bn). Standouts include a 28% stake in Shell Downstream SA, 23% of Seriti Resources Holdings and 100% of Empact Group. It’s also part-owner of 12 renewable energy projects delivering more than 1,000MW through the Eskom grid.
Masimong: Mike Teke’s empowerment investment company has no plans to list in the short term. But investors can take an indirect punt via investment company Sabvest*, an influential shareholder in the group. Masimong holds some prime assets in coal mining and farming, as well as industrial businesses such as Rolfes an...
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