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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

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