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
Huawei owner? Why you may want to trade yours in for a Samsung

Huawei owner? Why you may want to trade yours in for a Samsung

No more operating system updates and future versions will lose access to Google Play Store, Gmail, YouTube and Chrome.

Standard Bank takes on Capitec Bank with low-fee account, gigabytes of free data

Standard Bank takes on Capitec Bank with low-fee account, gigabytes of free data

The account costs R4.95 per month; you get 1GB of free data. Swipe 4 times a month; you get 0.5GB of free data and R50 airtime.

How to live off a dread disease benefit

How to live off a dread disease benefit

Personal finance advisor Warren Ingram discusses "dread disease benefits", typically paid out as a lump sum.

Meet Dr Sibusiso Sibisi, inspiring math whiz at the head of Wits Business School

Meet Dr Sibusiso Sibisi, inspiring math whiz at the head of Wits Business School

Bruce Whitfield interviews Dr Sibusiso Sibisi, Director and Head at Wits Business School (WBS), for his "ShapeShifter" feature.

'I don’t spend much. I drive an old car. I’ve never been in debt'

'I don’t spend much. I drive an old car. I’ve never been in debt'

Bruce Whitfield interviews analyst Chris Gilmour about his attitude toward money (hopes and fears, successes and failures, etc.).

How to save and buy an island (you need only R2000 per month)

How to save and buy an island (you need only R2000 per month)

Saving money on boring stuff such as a car can allow you to do really outrageous and courageous stuff, says Sam Beckbessinger.

Popular articles
'I don’t spend much. I drive an old car. I’ve never been in debt'

'I don’t spend much. I drive an old car. I’ve never been in debt'

Bruce Whitfield interviews analyst Chris Gilmour about his attitude toward money (hopes and fears, successes and failures, etc.).

Absa is the most complained about bank in South Africa

Absa is the most complained about bank in South Africa

Capitec Bank, however, is keeping its customers decidedly happy. Bruce Whitfield interviews consumer journalist Wendy Knowler.