Afriscan Construction (Pty) Ltd was established in 1988 by founding member Rick Jackson as a civil engineering contracting company. The company operated in Kwa-Zulu 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) Ltd, the civil engineering company, 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) Ltd.
Afriscan Construction was the first medium-sized company in Kwa-Zulu 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 it was 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 & Industries.
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 (now Sanprop) 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 were back in one team under the Sanyati Holdings banner.
SANYATI HOLDINGS LIMITED
TEL: 0861 SANHOLD (726 4653) | FAX: + 27 (0)11 463-2694 | EMAIL: admin@sanyati.co.za
ADDRESS: 2nd Floor Pinoak House, Ballyoaks Office; 35 Ballyclare Drive; Bryanston; 2191
POSTAL: PO Box 98474; Sloane Park; 2152
TEL: 0861 SANHOLD (726 4653) | FAX: + 27 (0)11 463-2694 | EMAIL: admin@sanyati.co.za
ADDRESS: 2nd Floor Pinoak House, Ballyoaks Office; 35 Ballyclare Drive; Bryanston; 2191
POSTAL: PO Box 98474; Sloane Park; 2152
Reg No: 1988/002538/07 | Vat No: 4070102589
© Sanyati Holdings Limited.