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It is with great sadness that Kagiso Trust Investments announces that its founder and Executive Chairman, Eric Molobi, passed away early this morning.
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A Memorial Service for the late Mr Molobi, Executive Chairman of Kagiso Trust Investments (Pty) Ltd, will be held at Kagiso House, 16 Flicker Road, Illovo on Tuesday, 06 June 2006 from 12h00 to 14h00.
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Santam combines acquisition with BEE deal
Johannesburg - Santam Risk Finance Limited, a wholly owned subsidiary of short-term insurance group Santam Limited on Friday announced that it has concluded a deal with Kagiso Treasury Services - which is part owned by Kagiso Trust Investments - to sell a third of the company to them.
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Kagiso Trust Investments - The difference is Trust
Initial capital to establish Kagiso Trust Investments (KTI) came from the Kagiso Trust and JP Morgan, and was later supplemented by investments from Liberty Group and Nedcor Investment Bank. Kagiso Trust remains the controlling shareholder of KTI.
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Kagiso Credit Rating Updated
Kagiso Trust Investment (KTI) has become the first black-owned and managed group to receive an investment-grade credit rating for long- and short-term obligations.
The investment group’s rating — zaBBB for long-term obligations, and zaA2 for short-term obligations — was awarded by CA-Ratings, the only South African-owned credit ratings agency. The rating indicates the group shows an adequate and timely ability, relative to other South African obligors, to repay its financial commitments.
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FirstRand sell off 10% in Empowerment Deal
FirstRand banking group yesterday unveiled its long-awaited black economic empowerment initiative, saying it would sell 10% of its business to black groups in a deal worth about R6,8bn.
FirstRand is SA’s second-biggest financial services group by market capitalisation, and the deal, which caught the market offguard, is the largest in the financial services sector to date.
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