Statement by Mr Saki Macozoma

It is with great sadness that Safika has learnt of the death of Mr. Soto Ndukwana, a friend, a colleague and a significant shareholder in Safika Holdings. His valuable contributions to the company will be sorely missed. Mr Ndukwana and his daughter 22-year-old daughter Zola Amzweni Baartman, died in a car accident near Bloemfontein on Wednesday November 24, 2010.  The directors, management and staff of Safika extend their sincere condolences to Mr. Ndukwana’s family.

Soto was born in the Eastern Cape in July 1956 where he pursued his primary school education in East London and Keiskammahoek (Qobo-Qobo), at the famous mission schools of St Mathews and Healdtown.

From an early age, he took an interest in politics and by his late teens, he was already known as an activist to the security police. When he was nineteen he was sent to Robben Island where he served a ten-year sentence from 1976 to 1986.

Whilst on Robben Island, he completed his matric and went on to acquire a BA and a B.Com (Hons). After his release, he completed his B Admin and Post-Graduate Diploma in Education. His initial employment was at Munich Re: Insurance Group of South Africa from 1987 – 1989. From 1990 to 1993 he was employed by South African Breweries (SAB) and soon became a Board member, responsible for Corporate Affairs/Marketing Division. He remained in this position until his move to Makana Investments in 1998 and remained a non-executive director of SAB until 2000.

Whilst at SAB, Soto was nominated a member of the Ex-Political Prisoners Association and the Makana Trust. Together with Peter-Paul Ngwenya, Soto set up Makana Investment Corporation (Pty) Ltd (MIC), with Soto and Peter-Paul enjoying a 35% stake via Web Wire (Pty) Ltd.  Soto served as MIC’s chairperson and chief executive until he resigned in January 2003 to assume the position of executive chairman of IFULA Holdings.

He served as Group chairman of IFULA Holdings embracing: Nasasa Cellular, Agro-serve and Efekto Bio-Technology, Worldwide Environmental Solutions and Innu-Science S.A. and vice president of Nasasa Relations Company, a mass based organisation representing the 8,5-million member stokvel and burial society movement.

Soto was a founder trustee of Makana Trust. He was also the co-deputy Chairperson of the Centre for Development and Enterprise alongside Judge F. Bam and served as Chairman of Zimisele Underwriting. He was also a board member of Capital ECI Africa. He became a shareholder in Safika on July 9, 1996.