This document provides an overview of Thebe Investment Corporation, a black-owned South African investment company. It discusses Thebe's history, vision, values, organizational structure, investments across multiple industries, and strategies. Thebe was founded in 1992 with a mission to promote economic empowerment. The document performs a PESTEL analysis and SWOT analysis. It also examines practices that enable superior performance, challenges, the mature industry environment, distinctive competencies, and potential investment in agriculture.

1. LUNGILE ROSEMARY KHUMALO - 20926250

2. OVERVIEW1.1 THEBE INTRODUCTION
1.3 CHANGES IN THE MACRO-ENVIRONMENT
1.6 SWOT ANALYSIS
2.4 DISTINCTIVE COMPETENCIES
3.1 PRACTICES UTILISED YEILDING SUPERIOR EFFICIENCY, QUALITY,
INNOVATION AND CUSTOMER RESPONSIVENESS
3.2 PRACTICES THAT RETARD SUPERIOR EFFICIENCY, QUALITY,
INNOVATION AND CUSTOMER RESPONSIVENESS
4.1 INDUSTRY ENVIRONMENT
5.6 TWO DISTINCTIVE COMPETENCIES AND POTENTIAL INDUSTRY
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3. ABOUT THEBE?
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4. INTRODUCTION
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SOLE SHAREHOLDER
BATHO BATHO TRUST
ORIGINAL TRUSTEES
 NELSON MANDELA
(CHAIRMAN)
 WALTER SISULU
 REV. BEYERS NAUDE
 SIDDIK AHMED
NON-EXECUTIVE CHAIRMAN
ENOS MABUZA
CEO
VUSI KHANYILE
THOMAS NKOSI
WALTER SISULUSUPPORTED BY
SHARED VISION
MAKE ECONOMIC SELF-SUFFICIENCY A REALITY FOR MAJORITY OF
SOUTH AFRICANS
JULY 1992
R100 000 00

5. BOARD OF DIRECTORS
EXECUTIVE DIRECTORS
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Mr Vusi Khanyile Ms Refiloe Nkadimeng

6. NON-EXECUTIVE DIRECTORS
Mr Godfrey Gomwe Ms Gllian Nonhlanhla Jiyane Dr May Mkhize Ms Peta Mashinini Ms Rene Schutte
Rev Dr Molefe Tsele Dr Nomonde Mabuya Mr Dirk Ackerman Mr Alton Solomons Mr James Alderslade
Dr Yvonne Muthien Anthony Umson Andiswa Jekwa
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GROUP COMPANY
SECRETARY
THEBE INVESTMENT CORPORATION

7. MANAGEMENT COMMITTEE
Mr Vusi Khanyile Ms Refiloe Nkadimeng Mr Jacques de Wet Ms Nonhlanhla Mabusela
Dr Pieter Kriel Mr Rapulane Mogototoane Mr Jerry Mabena Ms Zukie Siyotula
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8. 12 May 2015 THEBE INVESTMENT CORPORATION 8
FOUNDEDIN1992
PIONEERING
BLACK-OWNED
COMPANY
DEVELOPMENTAND
INVESTING
PROMOTES
MUTUALLY
BENEFICIAL
PARTNERSHIPS
CREATINGVALUEFOR
STAKEHOLDERS
ORIGINATION
EXECUTION
ACTIVE
PARTNERSHIPS
INVESTMENT
MANAGEMENT
Over 20 years Thebe has become South Africa’s most
reputable, diversified investment management companies
through sustainable development, market transformation and
empowerment.

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SANLAM
PRIVATE
EQUITY
9.8%
ABSA CAPITAL
LIMITED
22.5%
BATHO BATHO TRUST
47.5%
UMHLOMULO
EQUITY
PARTICIPATION
20.2%
THEBE
SHAREHOLDING

10. THEBE DIVISIONS
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THEBE SERVICES
THEBE POWER AND
INFRASTRUCTURE
ASSOCIATES
• SAFRIPOL
• COMBINED MOTOR
HOLDINGS
• ALTECH NETSTAR
GROUP
• SHELL MARKETING
AND SHELL
REFINING
• VODACOM SA
ASSOCIATES
• THEBE REED EXHIBITIONS
• COMPASS GROUP SA
• CAPE POINT
• SPARKS AND ELLIS
• TOUR d’AFRIQUE
• FIRST CAR ENTAL
• JARDINO LLOYD
THOMPSON
• EFFICIENT FINANCIAL
HOLDINGS
• NASOU VIA AFRICA
• KAYA FM
SUBSIDIARIES
THEBE UNICO, THEBE CONNECT, THEBE
TOURISM GROUP, THEBE STOCKBROKING,
THEBE YA BOPHELO HEALTHCARE, THEBE
PROPERTY ASSET ANAGEMENT, THEBE
ENERGY AND CLUB TRAVEL
SUBSIDIARIES
• REATILE TIMRITE
ASSOCIATES
• SENTULA
CONSTRUCTION
MINING
SUBSIDIARIES
• THEBE RENEWABLE ENERGY HOLDINGS
ASSOCIATES
• MAINSTREAM
RENEWABLE POWER
• PHINDADA HOUSING
• ACCENTUATE LIMITED
• HEADSTREAM WATER
SA

11. THEBE CORE BUSINESS
› Unique entrepreneurial company
› Profits + broader interests of the community
› Thebe investment portfolio spans tourism, mining
resources, infrastructure, renewable energy,
petrochemicals, telecommunications, financial
services and healthcare
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12. VISION
Thebe is an African investment management company that
makes sustainable investments for the benefit of the
community and other stakeholders.
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13. MISSION STATEMENT
“We strive to be a community-rooted company that actively
manages and governs our investments to optimize stakeholder
value”.
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14. 12 May 2015 THEBE INVESTMENT CORPORATION 14
THEBE
VALUES
EQUALITY
INNOVATION
INTERGRITY
QUALITY
COMMUNITY

15. OBSERVATION -
ALIGNMENTS
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16. Adheres to the TRIPLE BOTTOM LINE
Adopted the King III Report on Corporate Governance
Collaborative Partnerships with investee companies
Active Engagement of all Managers
Effectively Communicated
Substantial growth - direction and focus
Defines the business
Identified the product
Purpose
Addressed the needs of stakeholders
Philosophy of the organisation12 May 2015 THEBE INVESTMENT CORPORATION 16

17. 1.3
CHANGES IN THE
MACRO-
ENVIRONMENT
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18. THEBE
INVESTMENT
CORPORATION
POLITICAL
ECONOMIC
SOCIAL
TECHNOLOGY
ECONOMIC
LEGAL
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19. 1.TECHNOLOGICAL
CHANGES
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20. POSITIVE IMPACTS
DISCOVERIES
INCREASED PRODUCTIVITY
E-COMMERCE
CRM – CONSUMER RELATIONSHIP MANAGEMENT
EFFECIENCY IN DISTRIBUTION
SCOPE FOR INTERGRATED MARKETING COMMUNICATION
OPPORTUNITY TO CHANGE BUSINESS MODELS
INNOVATION
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21. NEGATIVE IMPACTS
DEPENDENCY
SYSTEM COMPLEXITY
DISLOCATION OF WORKERS
LESS VALUE IN HUMAN WORKERS
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22. DEVELOPINGOR
ACQUIRING
TECHNOLOGY
IN-HOUSE
DEVELOPMENT
ALLIANCES
ACQUISITION
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TECHNOLOGY AND PORTERS FIVE FORCES
BARRIERS TO ENTRY  May reduce economies of scale – encouraging
new entrants
 Barriers may also rise – products becoming more
complex and processes difficult to copy
SUBSTITUTES  New products displacing the old
 Technology in other Markets may steal
customers from other markets
POWER OF BUYERS
AND SUPPLIERS
Technology may free businesses from a single source
of supply
INDUSTRY RIVALRY Rivalry is diminished if successfully patented and
licenced

24. 2. ECONOMIC
INSTABILITY
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25. POSITIVE IMPACTS
STABLE EMPLOYMENT
DISPOSABLE INCOME
ECONOMIC INFLATION – MORE INVESTMENT AND
EXPANSION OPPORTUNITIES
FOREIGN EXCHANGE RATES
STABLE ECONOMY = STABLE PROFITS
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26. NEGATIVE IMPACTS
GLOBAL INEQUALITY
ECONOMIC RECESSION
LOWER EXPANSION OPPORTUNITIES
LOWER INVESTMENT OPPORTUNITIES
STAGNANT GROWTH
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27. 1.6
SWOT ANALYSIS
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28. 12 May 2015 THEBE INVESTMENT CORPORATION 28
THEBE INVESTMENT CORPORATION

29. STRENGTHS
1. STRONG BRAND
2. PRO-ACTIVE COMMUNITY SUPPORT
AND ENGAGEMENT
3. MATURE INDUSTRY AND MARKET
4. WOMEN EMPOWERMENT
5. ADHERENCE TO BEE STANDARDS
WEAKNESSES
1. ENVIRONMENTAL IMPACTS
2. HIGH PRICES
3. STRICT INVESTMENT SELECTION
CRITERIA
OPPORTUNITIES
1. NEW TECHNOLOGIES
2. GOVERNEMENT SUPPORT
3. MORE FUTURE AFFILIATIONS
4. IMPROVING ECONOMIC IMPACTS ON
LOCAL COMMUNITIES
5. TRAINING AND SERVICES
OPPORTUNITY – STRENGTH
STRATEGIES
1. DEVELOPMENT OF NEW
TECHNOLOGIES
2. CONTINOUS EMPOWERMENT
OPPURTUNITY – WEAKNESS
STRATEGIES
1. ADOPT ENVIRONMENTAL
IMPACTS ASSESSMENT
2. COMPETITIVE PRICING
STRATEGY
THREATS
1. ECONOMIC CHANGES
2. NATURAL DISASTERS
3. COMPETITION
4. ENVIRONMENTAL AND ECONOMIC
REGULATIONS
5. POLITICAL CHANGES
THREAT – STRENGTH
STRATEGIES
1. BRAND MANAGEMENT
2. ACTIVE REGULATIONS
ADHERENCE
THREAT – WEAKNESS
STRATEGIES
1. DEVELOP NEW SELECTION
CRITERIA
2. FOLLOWING ALL
ENVIRONMENTAL REGULATIONS
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30. 2.4
DISTINCTIVE
COMPETENCIES
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31. HIGH SKILLED EMPLOYEES
PRODUCTS AND SERVICE DESIGN
COMMITMENT TO CORPORATE GOVERNANCE
MUTUAL VALUE
DIVERSIFIED INVESTMENT BASE
EXCELLENT RISK MANAGEMENT SYSTEM
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32. COMMITMENT TO EMPLOYMENT EQUALITY
FLAT MANAGEMENT STRUCTURE
PROMOTION OF SOCIAL CHANGE
THEBE FOUNDATION
ABILITY TO SOURCE FUNDING BOTH LOCALLY AND
INTERNATIONALLY
SUPPORTING MAJORITY COMMUNITY BASED
SHAREHOLDER
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33. 3.1
PRACTICES UTILISED
YEILDING SUPERIOR
EFFICIENCY, QUALITY,
INNOVATION AND
CUSTOMER
RESPONSIVENESS
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34. ACHIEVING SUPERIOR
EFFICIENCY
FLEXIBILITY AND CUSTOMIZED SUBSIDIARIES
MARKETING ACTIVITIES
HUMAN RESOURCE STRATEGY
INFORMATION SYSTEMS
CLEAR GOALS
LONG-TERM RELATIONSHIPS WITH SUPPLIERS
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35. ACHIEVING SUPERIOR
QUALITY
SUPERIOR PERFORMANCE AND SERVICE IN ALL ASPECTS OF
BUSINESS
PROVIDING SUPPORT TO SUBSIDIARIES
FULFILLING RESPONSIBILITIES TO STAKEHOLDERS
FLAT ORGANISATIONAL STRUCTURE
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36. ACHIEVING SUPERIOR
INNOVATION
CROSS FUNCTIONAL INTEGRATION
EXPERIENCE
CUTTING EDGE TECHNOLOGY
SUPERIOR COMMERCIALISATION
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37. CUSTOMER
RESPONSIVENESS
› ACCEPTING OUR CORPORATE RESPONSIBILITIES TO
THE NATION
› EMPHASIZING ENVIRONMENTAL FACTORS, SAFETY
AND PROTECTION
› DEVELOPING A NEW VOICE FOR CORPORATE SOUTH
AFRICA
› SHAPING EMPLOYEE ATTITUDES
› LEADERSHIP
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38. 3.2
PRACTICES THAT
RETARD SUPERIOR
EFFICIENCY, QUALITY,
INNOVATION AND
CUSTOMER
RESPONSIVENESS
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39. ACHIEVING SUPERIOR EFFECIENCY
Inadequate training programs for employees
ACHIEVING SUPERIOR QUALITY
Total Quality Management (TQM) insufficient
ACHIEVING SUPERIOR INNOVATION
Uncertainty
Poor positioning strategy
ACHIEVING SUPERIOR CUSTOMER
RESPONSIVENESS
Highly politicized – Black Capitalists
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40. 4.1
INDUSTRY
ENVIRONMENT
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41. INDUSTRY ENVIRONMENT LIFE
CYCLE
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Maturity

42. MATURE INDUSTRY
LOW RISKS
POWER OF SUPPLIERS DECLINES
POWER OF BUYERS INCREASES – CAPACITY MATCHES /
EXCEEDS DEMAND
THREATS OF SUBSTITUTES IS GROWING
RISE OF INTERNATIONAL COMPETITION
GREATER TECHNOLOGICAL MATURITY
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43. EVOLUTION OF MATURE
INDUSTRIES
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44. STRATEGIES FOR
THE MATURE
INDUSTRY
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45. QUALITATIVE
DIFFERENTIATION
DEVELOPMENT OF UNIQUE PRODUCTS
› Brand Image
› Design
› Superior Technology
› Diversified distribution channels
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46. STRATEGIES FOR
DETERRING
ENTRY OF RIVALS
PRODUCT
PROLIFERATION
PRICE CUTTING
MAINTAINING
ACCESS
CAPACITY
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Filling the Niches:
making it difficult for new
competitors to break into a
new industry
Sending a Signal:
to potential new entrants
contemplating entry that new
entry will be met with price
cuts
Warning of Retaliation:
by increasing output and
forcing down prices until
market entry would be
unprofitable to entrants

47. STRATEGIES FOR
MANAGING INDUSTRY
RIVALRY
PRICE
SIGNALLING
PRICE
LEADERSHIP
CAPACITY
CONTROL
NONPRICE
COMPETITION
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Convey intentions:
Intent is to
improve industry
profitability.
Informal pricing:
Formal price
setting jointly by
companies is
illegal.
Differentiation:
• Market development
• Market penetration
• Product development
• Product proliferation
Market Signaling:
Collusion on
timing of new
investments is
illegal.

48. THE GAME THEORY
COMPANIES ARE VIEWED AS PLAYERS IN
THE GAME THAT ARE SIMULTANEOUSLY
MAKING CHOICES ABOUT WHICH
BUSINESS MODELS AND STRATEGIES TO
PURSUE IN ORDER TO MAXIMIZE THEIR
PROFITABILITY
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49. PRINCIPLES THAT UNDERLIE
THE GAME THEORY
1. LOOK FORWARD AND REASON BACK
2. KNOW THY RIVAL
3. FIND THE DOMINANT STRATEGY
4. STRATEGY SHAPES THE PAY-OFF STRUCTURE
OF THE GAME
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50. 5.6
TWO DISTINCTIVE
COMPETENCIES AND
POTENTIAL
INDUSTRY
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51. DISTINCTIVE
COMPETENCIES
1. PROMOTION OF SOCIAL CHANGE
2. DIVERSIFIED INVESTMENT BASE
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52. AGRICULTURE
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53. › SOURCE OF LIVELIHOOD
› CONTRIBUTION TO NATIONAL REVENUE
› SUPPLY OF FOOD
› SIGNIFICANCE TO THE INTERNATIONAL TRADE
› SOURCE OF RAW MATERIALS
› SIGNIFICANCE IN TRANSPORT
› GREAT EMPLOYMENT OPPORTUNITIES
› ECONOMIC DEVELOPMENT
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54. REFERENCIES
Itan, N. O’Connell, F. and Mason, K. 2014. A macro-environment approach to civil aviation
strategic planning, Transport policy (Online), 33: 125 – 135. Available:
http://www.Elsevier.com/ (Accessed 23 March 2015).
Sabol, A. Sander, M. and Fuckan, D. 2013. The concept of industry life cycle and
development of business strategies, Active citizenship by knowledge innovation (Online),
635 – 642. Available: http://www.Elsevier.com/ (Accessed 23 March 2015).
Southall, R. 2010. The ANC & Black Capitalism in South Africa, Review of African political
economy (Online), 31(100) : 313 – 328. Available:
http://http://dx.doi.org/10.1080/0305624042000262310/ (Accessed 10 April 2015).
Strategy planning process (Online) . 2015. Available: http://www.tandfold.com/
(Accessed 23 March 2015).
Thebe investment corporation (Online). 2015. Available: http://www.thebe.co.za/
(Accessed 15 March 2015).
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