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
What in the world happened to eNews anchor Pat Pillai? He’s been rather busy...

What in the world happened to eNews anchor Pat Pillai? He’s been rather busy...

The Money Show’s Bruce Whitfield interviews Pillai for his weekly (on a Wednesday) “ShapeShifter” feature.

#DataMustFall! Meet Rain CEO Willem Roos... he is making it happen

#DataMustFall! Meet Rain CEO Willem Roos... he is making it happen

The Money Show’s Bruce Whitfield interviews Rain CEO Willem Roos for his weekly “ShapeShifter” feature.

Sars acting Commissioner Mark Kingon wants tax to be boring. It won't be easy

Sars acting Commissioner Mark Kingon wants tax to be boring. It won't be easy

South African Revenue Services' Mark Kingon has the most dreadfully important job. Bruce Whitfield interviews him...

‘Real Wolf of Wall Street’ Jordan Belfort on sex, drugs and starting over

‘Real Wolf of Wall Street’ Jordan Belfort on sex, drugs and starting over

[Strong language warning] Jordan Belfort, played by Leonardo DiCaprio, opens up about his sordid past and inspirational new life.

Meet Jacko Maree, tasked by the President to get R1.2 trillion in investments

Meet Jacko Maree, tasked by the President to get R1.2 trillion in investments

The Money Show’s Bruce Whitfield interviews Maree, Chairperson at Liberty Holdings (and former CEO of Standard Bank).

Meet Johann Redelinghuys, a man hell-bent on ending retirement (as we know it)

Meet Johann Redelinghuys, a man hell-bent on ending retirement (as we know it)

“Why try and make retirement more palatable? Why not just abolish it completely?” says headhunter Johann Redelinghuys.

Popular articles
Caller defends Sho Madjozi's two-channels statement

Caller defends Sho Madjozi's two-channels statement

Eusebius McKaiser and callers debate issues from the Sho Madjozi to the Springboks.

Granny rescues 13-year-old girl chased away from home by mom

Granny rescues 13-year-old girl chased away from home by mom

Khabazela shares tweets and Facebook posts that have gone viral.

BEE has not worked, says Capitec CEO

BEE has not worked, says Capitec CEO

Capitec CEO Gerrie Fourie explains the challenges the bank, named Top 100 Company of the Year, faces.

'Aarto Act could be used by Sanral to enforce e-toll compliance'

'Aarto Act could be used by Sanral to enforce e-toll compliance'

Justice Project SA chair Howard Dembovsky says the act presumes a motorist to be guilty until he or she proves they are innocent.

[VIDEO] Port Elizabeth gets an eyeful of Faf's famous SA-flag speedo

[VIDEO] Port Elizabeth gets an eyeful of Faf's famous SA-flag speedo

Faf de Klerk threatened to upstage his captain when he showed off his patriotic 'broeks' in PE on the Springbok victory tour.

Capitec Bank must OK BEE share sale. '47 000 Transnet pensioners are suffering'

Capitec Bank must OK BEE share sale. '47 000 Transnet pensioners are suffering'

"The judgment is damning against Capitec Bank," says freelance journalist Ciaran Ryan.

[WATCH] 'I didn't poop, I peed,' kid excited that he went potty successfully

[WATCH] 'I didn't poop, I peed,' kid excited that he went potty successfully

Khabazela shares tweets and Facebook posts that have gone viral.

Bryan Habana opens up about money, and now having to buy his own clothes

Bryan Habana opens up about money, and now having to buy his own clothes

Bruce Whitfield interviews the legendary Springbok about his attitude toward money (hopes and fears, successes and failures, etc.)