ShapeShifter, Evergreen Content

We gifted 20% of the business to NGOs - Itumeleng Kgaboesele (Sphere Holdings)

(The Money Show is brought to you by Nedbank. See Money Differently.)

Itumeleng Kgaboesele, CEO and co-founder of Sphere Holdings

For the amount of money we spend on education as a nation, the outcomes are not what they should be.

Itumeleng Kgaboesele, Sphere Holdings

We wanted to make long-term investments in long-term partnerships… At the outset, we gifted 20% of the business to non-profit organisations…

Itumeleng Kgaboesele, Sphere Holdings

We invested in Old Mutual as part of the Wiphold transaction… it did well for the black shareholders…

Itumeleng Kgaboesele, Sphere Holdings

Itumeleng Kgaboesele is the CEO of Sphere Holdings, an investment holding company he co-founded in 2003.

He is also a Non-Executive Director of Old Mutual Emerging Markets Limited.

Kgaboesele has considerable investment banking experience, honed during his vice-presidency at Citigroup and stints at Merrill Lynch and Deutsche Bank.

He serves as Chairperson of the Board of Trustees of the Student Sponsorship Programme, an NGO providing poor schoolchildren with mentorship and funding to attend some of the best high schools in South Africa.

Kgaboesele, a qualified chartered accountant, has a BCom degree and a Post Graduate Diploma in Accounting from the University of Cape Town.

The Money Show’s Bruce Whitfield interviewed Kgaboesele for his weekly “ShapeShifter” feature.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

Notwithstanding what’s going on… I’m proud to be a chartered accountant.

Itumeleng Kgaboesele, Sphere Holdings

Certainly, they [investment bankers] do [add value]… The bankers who provide capital are more helpful than those who don’t…

Itumeleng Kgaboesele, Sphere Holdings

For good ideas… there is always capital…

Itumeleng Kgaboesele, Sphere Holdings

Today we took 30 CEOs… and have them spend time with principles… at some of the inner-city schools…

Itumeleng Kgaboesele, Sphere Holdings

We’ve got problems [in education]… my experience of seeing kids previously prone to vandalism, getting engaged in the school… has given me a lot of hope. There are challenges but there is stuff we can fix.

Itumeleng Kgaboesele, Sphere Holdings

We’re trying to avoid competing for assets…

Itumeleng Kgaboesele, Sphere Holdings

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
'Capping fuel price will harm transformation, jobs and won’t benefit consumers'

'Capping fuel price will harm transformation, jobs and won’t benefit consumers'

The Money Show’s Bruce Whitfield interviews PetroConnect cofounder Sbonelo Mbatha.

3 risks to your retirement savings (and how to mitigate each of them)

3 risks to your retirement savings (and how to mitigate each of them)

Only 5% of South African retirement fund members will retire comfortably. Bruce Whitfield interviews advisor Warren Ingram.

'Constitutional change is not about land reform. It’s about the election'

'Constitutional change is not about land reform. It’s about the election'

Bruce Whitfield interviews political economist Nic Borain and Cas Coovadia, MD at the Banking Association of South Africa.

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

‘Budgeting’ for people who don’t budget (and probably never will)

‘Budgeting’ for people who don’t budget (and probably never will)

A simple savings plan for people who don’t like to budget. Bruce Whitfield interviews personal finance guru Warren Ingram.

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

Popular articles
The movie 'Widows' beautifully links the politics of crime - Gayle Edmunds

The movie 'Widows' beautifully links the politics of crime - Gayle Edmunds

In the movie review, film critic Gayle Edmunds shares her views of Steven McQueen's 2018 heist film 'Widows'.

[LISTEN] Beware of the 'money bomb' scam this festive season!

[LISTEN] Beware of the 'money bomb' scam this festive season!

CEO of SA Banking Risk Information Center, Kalyani Pillay chats about the new festive season scam that's robbing people blind.

Motorist who killed two goslings has been identified

Motorist who killed two goslings has been identified

According to the SPCA, he will be charged with contravention of the Animal Protection Act.

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

[LISTEN] Bee farmer describes tens of thousands of bees dead in Constantia

[LISTEN] Bee farmer describes tens of thousands of bees dead in Constantia

Bee farmer Brendan appeals to other beekeepers to check their bees and collect samples if they have witnessed any deaths.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Residents are urged to take note of the schedules as Stage 1 load s​hedding remains a possibility.

[LISTEN] 'I won a car but I'm too young to drive!' - Paxton on life after Idols

[LISTEN] 'I won a car but I'm too young to drive!' - Paxton on life after Idols

Idols winner Paxton Fielies chats to Sara-Jayne King about her debut album, This Is Me.