Moss appointed chair of Investec Property Fund

Investec Property Fund Limited

Safika chief executive Moss Ngoasheng has been appointed as the independent non-executive board chair of the Investec Property Fund with effect from September 6, 2021.

Investec Property Fund Limited is a South African Real Estate Investment Trust that listed on the Johannesburg Stock Exchange (JSE) in 2011. The fund pursues a bi-regional investment strategy, focused on building scale and relevance in its core geographies of South Africa and Western Europe.

Moss has been on the board since 2011 and was lead independent non-executive director since 2016.

In a statement, Investec said Moss is highly qualified to lead the fund forward in an increasingly complex environment.

Moss will continue in his existing roles as chief executive and deputy chairman of Safika Holdings.

Safika chairman appointed top advisor to Eastern Cape government

The premier of South Africa’s Eastern Cape province, Oscar Mabuyane, has announced that Safika Holdings chairman, Saki Macozoma has been appointed to a key advisory position in his administration. Macozoma will form part of the premier’s advisory panel on a part-time basis.

The Eastern Cape is South Africa’s second-largest province but also the poorest, in spite of having huge potential in terms of agriculture, tourism, sea cargo and industry.

Macozoma and his fellow appointees Professor Wiseman Nkuhlu and Nomso Kana will advise on strategic planning and ensure government work is properly structured.

Nkuhlu is the Chancellor of the University of Pretoria, Chairman of Rothschild (SA) and a director of companies. Kana works as an entrepreneur in the broadband infrastructure sector. She is a lobbyist for sustainable resource use, and led the South African delegation to the World Sustainability Energy Forum.

Ntsimbintle Holdings R1.3-billion vote of confidence in Tshipi and 
South Africa’s manganese sector

Johannesburg (19 April 2021) – Ntsimbintle Holdings, has acquired a further 13.8% stake in Jupiter Mines (270.5 million shares), making it the Australian-listed miner’s largest shareholder, with a total holding of 19.9%. Ntsimbintle Holdings invested around
R1.3-billion over the last 18 months in acquiring this stake.

Ntsimbintle Holdings is one of South Africa’s most successful empowered mining companies. In addition to the 39.66% interest held by Safika Resources, a subsidiary of Safika Holdings, its other shareholders include 13 community, women and entrepreneurial entities based mostly in the Northern Cape, of which the John Taolo Gaetsewe Development Trust with its 14.47% interest, is the company’s second largest shareholder. 

Ntsimbintle Holdings has a 74% stake in Ntsimbintle Mining, which in turn has been the developer of and leading shareholder (50.1%) in Tshipi é Ntle (Tshipi), South Africa’s largest manganese producer. Ntsimbintle Mining’s partner in Tshipi is Jupiter Mine’s Jupiter Kalahari, which holds 49.9%. 

Tshipi is an independently operated-and-managed, blackempowered manganese mining company that operates the Tshipi Borwa Manganese Mine, an open pit operation located in the Kalahari Manganese Field, the largest known manganese bearing geological formation in the world. Tshipi is the largest single manganese mine and exporter from South Africa and one of the five largest manganese ore exporters globally.

Manganese ore is a vital and irreplaceable element in carbon steel production. As manganese is part of a long value chain, demand for manganese ore is ultimately driven by changes in demand from end users, primarily steel producers. Outside of its steel applications, manganese is quietly becoming a significant contributor to the electric vehicle market.

Industry body the World Steel Association forecasts short term steel demand (2021-2022) to grow by 5.8% and with long term growth forecasts (2020-2025) estimated at ~2% per annum, the market fundamentals supporting the acquisition remain competitive. 

Despite sporadic small localised waves of COVID-19, Chinese economic activity has not been as gravely affected by the pandemic and with other advanced economies such as the US, implementing various infrastructure backed stimuli packages to boost and support job creation, the manganese ore demand outlook is expected to remain healthy largely due to rebounds in major steel using sectors such as the construction and automotive sectors. 

Ntsimbintle’s other assets includes a 9% percent  shareholding in Hotazel Manganese Mines, Mokala Manganese, Khwara Manganese and Ntsimbintle Marketing and Trading. These assets enable full integration into the manganese value chain. 

Ntsimbintle is a distinguished and successful, empowered mining investment company. Formed in 2003 to pursue exploration and mining opportunities emerging in the South African manganese sector, Ntsimbintle Holdings is a true B-BEE entity as envisaged in the spirit and intent of South Africa’s Minerals and Petroleum Development Act. 

Prospecting rights for an area between Kathu and Hotazel, in the Northern Cape were granted in 2006 to Ntsimbintle, which then commenced prospecting activities. To fund mine development and construction, other investors, most notably Pallinghurst Co-Investors/Jupiter Mines and Australian listed OM Holdings acquired stakes directly in Tshipi and in Ntsimbintle Mining respectively. The Tshipi mining right application was approved in 2010 and, after a 20-month construction and commissioning phase, Tshipi Borwa Mine railed and exported its first manganese ore.

Ntsimbintle Holdings chairman Saki Macozoma says: “With this transaction Ntsimbintle, a truly broad-based South African BEE company, has become one of the world’s major forces in manganese mining. This is something that every South African can be proud of particularly because from inception, Ntsimbintle committed to social investment in the Northern Cape and to sharing the economic benefits of mining with local communities. Dividends paid back to shareholders to date has been R3.26 billion.”

“Our R1.3-billion investment in Jupiter Mines brings home some of the interest that was released when we were raising capital for the development of Tshipi. This investment is a significant vote of confidence by Ntsimbintle in the Tshipi mine, and in the future of South Africa’s manganese sector.”

Tshipi’s assets and track record remain enviable: It is a significant, low-cost producer of high-quality manganese ore; it generates strong cash flows and community dividend distribution; it has fully invested, proven mine and logistics infrastructure; and a highly experienced management team.

Saki Macazoma concludes: “Our increasing influence in the manganese sector, will mean that Ntsimbintle can continue to  capitalise on regional and co-development consolidation opportunities, and will do so through disciplined value-accretive industry acquisitions, that will allow greater exposure to extremely attractive manganese fundamentals.”

Safika helps to preserve the past and educate for the future

Safika Holdings has restored a historic building at St Andrew’s College in South Africa’s Eastern Cape creating a debating chamber and exhibition center for students at the school. Photographs and memorabilia will be exhibited there. Safika has also provided generous sponsorship for an educational programme

Canon and Mrs. Robert Mullins

St. Andrew’s College was founded in 1855 at a time when black and white communities first encountered each other in the Eastern Cape, often in violent circumstances. Church leaders played a moderating role, especially by establishing schools throughout the Eastern Cape, many of which were formative in the development of future leaders of our country.

Most of these schools were racially segregated. The Anglican Institution, which was founded as a branch of St Andrew’s College in 1860, was a rare exception where young men of faith, black and white, were educated together. At the height of colonial rule, black and white clergymen were prepared for holy orders by Canon John Espin (the Headmaster of St Andrew’s College) and Canon Robert Mullins (the Headmaster of the Anglican Institution). The Anglican Institution then became an autonomous school from 1867 until it closed in 1907 when Canon Mullins retired.

The Anglican Institution trained a large number of clergy, teachers and civil servants, many of whom were leaders and activists in early political movements in South Africa.

Situated in the beautiful grounds behind Graham House is the stone building that was once part of the Anglican Institution.

Safika has a proud history of social responsibility, supporting a wide range of educational and child-orientated initiatives, ranging from financing educational institutions, providing bursaries for high school and tertiary education and thereafter mentoring students in the business world. This latest project is an educational programme which will bring understanding to the College boys of the importance of the Anglican Institution within the educational framework at the time and the role that many of the scholars played in the history of our country.