Sanyati Holdings Limited

History

Afriscan Construction (Pty) Limited was established in 1988 by founding member Rick Jackson as a civil engineering contracting company. The company operated in KwaZulu-Natal and soon expanded to include a plant hire company and a building company. Afriscan Holdings was formed in 1996 to control and administer this expanding group of companies.
In 2000, the management of Afriscan Construction (Pty) Limited negotiated a buy-out under the leadership of Khisore Ramkissoon. In terms of the agreement, Afriscan Holdings changed its name to Sanyati Holdings Limited and continued to provide certain managerial and financial services for Afriscan Construction (Pty) Limited.
Afriscan Construction was the first medium-sized company in KwaZulu-Natal to appoint black executive directors who owned shares in the company. By 1996, previously disadvantaged individuals (PDIs) owned 51.4% of the shares in Afriscan through direct ownership by the black directors and through an employees’ trust.
Notable achievements of the company during its 18-year history included qualifying as finalists for the coveted South African non-listed company award in 1995, 1996, 1997, 1998 and 1999 and being nominated as one of South Africa’s top 300 empowerment companies for the company’s contribution to Broad-Based Black Economic Empowerment and Transformation by the Department of Trade & Industry.
Both Sanyati Holdings and Afriscan Construction grew rapidly under the new structure, acquiring assets and other companies under their own banners. Afriscan Construction acquired the majority shareholding in Ntuthuko Development and Brisk Asphalt Surfacing whilst Sanyati Holdings opened up Sanyati Properties as a property development company, Rusinga Building as a building company and various offshore companies offering cell phone infrastructure in Uganda, Tanzania and Zambia.
In December 2005, the shareholders of Sanyati Holdings proposed a buy-out of Afriscan Construction and of all its interests. This transaction was approved in February 2006 and the previous management team of Afriscan Holdings was back in one team under the Sanyati Holdings' banner.
Ruthcon Civil Contractors, established in 1994 by Archie Rutherford, bought out Conform Construction in 2006. Conform was started in February 1980.
Ruthcon was bought out by Sanyati Holdings in March 2007.
Kwazulu Piling was established in 1996 as specialist geotechnical contractor. In 2004 KZN Piling was established increasing the group exposure into the traditional ‘larger’ piling market. Sanyati bought the piling companies in 2007 acquiring the piling & geotechnical expertise and equipment to add to the existing civil engineering base in a bid to move to a largely “self-sufficient” contractor.
Meyker Construction (Pty) Ltd was established during 1996 as a Civil Engineering and Construction Company. Consequently, a BEE transaction was concluded during 2006 with Re Teng Business Enterprises, a broad-based BEE company, resulting in the establishment of Meyker Re Teng Construction (Pty) Ltd. This company was then bought out by Sanyati in December 2007, thereby increasing Sanyati’s footprint to the Free State and Northern Cape.
Gem Earthworks, established in 1993 by Gerhard van Schalkwyk, was acquired by Sanyati in 2007.
During the year, the Group acquired 27% of Africa Pipe Industries (Pty) Ltd, a company manufacturing spiral welded steel pipes. The company is newly formed and has recently been awarded its first contract. The company was in start up mode for the period ending 28 February 2011.
As part of the investment, the group provided assets to the company by way of a finance lease. The lease if for an indefinite period and will be repaid in a pro-rata basis to the repayment of other shareholder loans.