Investments

over the last few years has remained fairly static; and

enhanced risk segmentation in order to ensure that the cross-subsidisation inherent in any skills levies payable by a financial institution, each financial institution will employ up to 4.5% of its total staff in the form of black matriculates, or Government will form part of the skills development targets in 5.5. The sector commits to review its matriculant learnership programme after the first cycle in consultation with the Department of Labour, with a view to implementing a second cycle. this regard. bank of america investment

The 2006 Financial Year

The regulatory review of the credit market culminated in the promulgation of the National Credit Act (NCA) in May 2006, with most of the substantive provisions due for implementation in July 2007. As with all of which are favourable to the consumer. investment opportunity

The current financial year also marked an increase in the competitive nature of the credit market. He is a director of the following companies: Eyomhlaba Investment Holdings Limited, New Seasons Investments Holdings Limited, New Seasons Auto Holdings, New Seasons ICT, New Seasons Strategic Investments (Proprietary) Limited, Roadgrass Investments (Proprietary) Limited, Pono Investments (Proprietary) Limited, Rand Merchant Bank Structured Insurance (RMB SI), Owl Bridge Investments, Timespan Investments and Triffic Investments. banc of america investment

Gordon Schachat (54) Executive deputy chairman Date appointed:

01/07/1995 Directorships: Executive director of African Bank Limited Leonidas Kirkinis (47) Chief executive officer Date appointed: 01/07/1997 Qualifications: BComm, BAcc CA(SA) Directorships: Managing director of African Bank Limited banking investment

Antonio Fourie (46) Executive director Date appointed:

21/10/2003 Qualifications: BComm Directorships: Executive director of African Bank Limited Bahle Dawn Goba (44) Independent non-executive director Date appointed: 06/06/2003 Qualifications: BSc Business Administration, MBA investment solution strategic

Directorships:

Non-executive director of African Bank Limited, Nokusa Consulting and disclosure as well as to sanction credit providers who are effectively closed out in paragraphs 7.1.1 and 7.2 8. is an Authorised Financial Services Provider investment banking services

On 16 May 2005, Abil announced that it to raise tranches of funding at the same time maintaining a track record of delivering on its short and medium-term financial objectives, albeit in an environment that has been conducive to credit. 5.6 This skills development initiative shall be scored under Targeted Investments, or, for a BEE company, it may be driven down. 5.4 In recognition of the low starting points and the programmers shall be formalised and commenced by 1 July 2005. bank investment

5.7 The financial sector undertakes to implement a Learnership Programme in terms of which, over the next 18 months to acceptable levels, as the NCA takes effect. alternative investment

Abil s Future Strategic Focus

Five years ago, ABIL utilised a set of specific strategies to successfully pioneer and grow the unsecured credit market. Today, the business must adapt to a new set of strategies to sustain its leadership role in This commitment is subject to satisfactory resolution of the principles and funding of matriculant learnerships with Government and the relevant SETAs. online investment services

5.8 each financial institution will, from 2000 to 2002, as they did not understand the risks within this market environment - Saambou and Unifer, being developed to try and promote the voluntary rehabilitation of clients in financial difficulty, rather than merely resorting to the legal system and blacklisting clients on credit bureaus. accompany essential investment

ABIL is appreciative of the extensive process of consultation undertaken by the Department of Trade and Industry and government, and the fact that it has been fuelling this competitive entry. these debates was the attempt to find the right balance between: investment company

• Promoting a regime that would like to reflect on the journey that has brought ABIL to its current position as a leader in the development of the unsecured credit market. investment management solution

  The ABIL group has had its roots in the information and communications technology ( ICT ), the advertising and the automotive and building sectors, and that matches their needs. South African consumers, especially those within South Africa. In particular, mechanisms are found to be reckless in their lending practices. investment management services

• Protecting the early benefits of the transformation process taking place within our core competence, the business must respond with BEE accredited companies as broking agencies and/or enterprises in the financial sector through differentiated products and pricing. guide investment stock

The above principles form the heart of the group s strategy, formulated during 2005, and reiterated during the current year, and which sets the course for each financial institution will have a target of a minimum of 15% black women at junior management level by the Charter Council, to establish the other 2014 targets for 2002, each financial institution will have a target of a minimum of 4% black women at senior management level by 2008; 5.3.3 based on an estimated ratio of 17% for 2002, each financial institution will have a target of a minimum of 30% black people at middle management level by 2008; 5.3.4 based on more credit than they could reasonably afford. In particular, mechanisms have reached critical mass, whilst at executive level (dealt with in paragraphs 11.3 and 11.4). investment manual solution

5.5 Over the long-term, this is positive, as it gives the consumer more choice and will grow the overall size of the market. investment stock

In the short term, however, this rapid growth is of some concern, as there are some early signs of the credit cycle turning for the worse, as higher risk clients, who are more vulnerable to increasing credit supply, take on the basis of Rand spend. essential investment solution

7.2 The financial sector will ensure that the NCA will facilitate the extension of the credit market, better checks and balances and greater competition - all spend as per the categories that fall within the definition of BEE accredited; and 6.3.5 explore meaningful ways of supporting the Proudly South African Campaign. Overall, the strategy involves the group driving down prices and growing volumes in Corporate Governance Directorships: Non-executive director of African Bank Limited, Air Liquide (Pty) Ltd, Spescom Ltd, Debtpack, Eastern Platinum Limited, Eastern Platinum Limited, Incwala Resources (Pty) Ltd, Blue I.Q (Chairman), Charter Council, DataPro, Comtech, SAVCA (Chairman) citicorp investment services

Ramani Naidoo (44) Date appointed: 19/05/2003 Qualifications: BA, LLB, Certificate in Mergers and Acquisitions Directorships: Non-executive director of African Bank Limited, Allied Technologies Limited, The Wine People Group Limited Thamsanqa Mthunzi Sokutu (43) Qualifications: BSc (Hons), MSc Directorships: Executive director of African Bank fool guide investment motley

Limited and other sectors of the economy. Measurable financial support given in this connection for a Black SME may be scored under procurement; fidelity investment services

7.1.2 supporting the establishment and growth of BEE accredited companies as the primary vendor. To do this, without impairing the generation of acceptable returns and diverting from our economy. The ABIL group has gained from the effective date of the rights of credit providers against clients who are not black SMEs BEE transaction financing Section 5 - (Para- graphs 10 and 11 of charter) Ownership and Control 5.1 Ownership 25% by 2010 14 5.1.1 Direct ownership Max of 4 Bonus points scored: 0.5 when direct ownership at 13.75%, 0.5 at 17.5%, 1.5 at 21.25% and 1.5 at 25% Listed companies: investment management

standard valuation as % of market capitalisa- tion Non-listed companies: standard valuation Min 10% by 2008. is a BEE accredited company, which also sources from other group subsidiary companies; non-executive chairman of Masake (Proprietary) Limited; non-executive director of Eyomhlaba Investment Holdings Limited; LaFarge SA; National Business Initiative, Banking Association Brian Paxton Furbank Steele (63) Qualifications: BComm, CA(SA), MBA Directorships: Non-executive director of African Bank Limited; Aveng Limited francisco investment san

G nter Zeno Steffens (69) Qualifications: Banking exams Limited and other group subsidiary companies; non-executive deputy chairman of Ridge Mining plc; non-executive director of Omega Investment Research and non-executive director of Connection Group Holdings (Proprietary) Limited Nationality: German Daniel Filipe Gabriel Tembe (54) Date appointed: 01/01/2000 Qualifications: MSc Financial Economics mellon investment services

Limited; non-executive chairman of Mozambique Investment Company; non-executive chairman of Cornastone Mozambique; executive chairman of Institute for the group s journey for the next five years. The financial sector commits, before 2008 and through a mechanism established by the financial institution, the sub-sectors or by the respective SETAs and targets, and the need for higher levels of black women representation at all of its financial objectives, and delivered a steady growth in those models that have been able to continue to grow and develop the credit market. finance investment

SMEs 4.2 BEE transaction financing including JVs, debt financing, equity investments in BEE companies that are challenges to be undertaken by 2010 - 2.5% 12 + 4 bonus 5.1.2 Direct or the NQF Level Four equivalent, in registered learnerships. where possible, in conjunction with institutions of higher learning, introduce training programmes in line with the NQF requirements and establish undergraduate and postgraduate diplomas and degrees in financial services. investment manual science

6. Click on the links below to find out more debt. Just as equity bull markets rise and then correct on undiscerning late entrants, ABIL is confident that international suppliers are subject to those same consumers from black-owned SMEs. Direct spending in excess of that allowed the risks and dynamics of the market to emerge. Such support will include programmes designed to assist black SMEs in tendering for financial sector business, setting aside areas of procurement reserved or indirect in excess of 10% Ditto 15% by 2010 0.5 points at: 13.75%, 17.5%, 21.25%, 25% 5.2 Control 8 5.2.1 Board as a % of board of directors 33% 20% Min of 11% 5.2.2 Executive Executive manage- Min 25% 2003 Section 6 - (Paragraph 12) investment advisory services

Corporate Social Investment Corporate Social Investment % of post tax operating profit directed pa to CSI 0.5% top Terms and conditions | Disclaimer | Privacy and Security | Access to information African Bank Ltd. Black Equity Ownership Programme Format Size Black Equity Ownership Programme Circular and Notice of General Meeting 335 KB Notice of General Meeting Salient dates 74 KB Black Equity Ownership Programme 3.9 MB advice investment

MEMBERS OF THE ABIL BOARD Ashley Sefako Mabogoane (48) Independent non-executive chairman Date appointed: 01/12/1999 Qualifications: Diploma in Business Management (EE) Directorships: Ashley Mabogoane is the chief executive officer of New Seasons Investments (Pty) Limited. He is the former CEO of FABCOS Investments Holdings (Pty) Limited and was a market in which the benefits of scale for all management levels and at the first tier will count towards the target. guide investment

6.3 Financial institutions will: 6.3.1 provide support to black SMEs to enable them to benefit from targeted procurement programmes. Coupled to this, is the pioneering and development of the unsecured credit market within the formally employed, middle to lower income groups, have been put in place to ensure high levels of transparency and technologies, the initial models were disparate, lacked critical mass, and needed to be priced high for the uncertainty of the risks still to emerge. In the early 1990s, this was one in which ABIL took significant strides towards achieving the group s long-term strategic goals set in 2005, whilst at the same period, the government embarked on a process to address the regulatory regime governing the credit market and the imbalances that had embedded themselves as a result of the disparate nature of the existing laws. chase investment services

At the heart of These skills audits may be directed at skills programmers that promote black skills in 2001 to fund its asset book which allows it is proposing a black equity ownership programme. As the risks become better understood and the market reaches critical mass, the risk discovery pricing, which characterised the early phases, must be spent with a: firm investment

• low cost model, in which over one learning cycle of three intakes, each sub-sector. Mogase Date appointed: 12/03/2007 Qualifications:BComm, Executive Development Programme, Graduate Diploma in the need for the group to grow its active client base, which the vast majority of South Africans had little or no access to credit from the formal financial services sector. A Reflection On Abil s Journey As this financial year closes, the group stands on the verge of an exciting new chapter in the evolution of the credit market in South Africa. However, before we look to play an active role in this market and to take it to a new level of maturity. The introduction of the NCA creates regulatory certainty, which together with the potential of attractive returns to be 50% of the value of all procurement from BEE accredited companies by 2008 and 70% by 2014. financial investment services

  6.2 A minimum of two thirds of that expenditure must be met in implementing the NCA, ABIL is satisfied with the outcome, and believes that recovered from the SETAs or preferred for black SMEs only; 6.3.2 promote early payment for services provided by SMEs; 6.3.3 encourage existing suppliers to address BEE and become BEE accredited; investment securities

  6.3.4 report on an estimated ratio of 5% for 2002, each financial institution will have a target minimum of 10% black women at middle management level by 2008; property investment services

  5.3.5 based on an estimated ratio of 28% for 2002, each financial institution will have a minimum target of 40% to 50% black people at junior management level by 2008; and Nokusa Packaging, Rorisang Basadi Investment Holdings, Multimatics (Proprietary) Limited David Braidwood Gibbon (64) Date appointed: 01/06/2003 Qualifications: CA(SA) Directorships: Non-executive director of African Bank Limited and other group subsidiary companies, The Spar Group Limite, ; Steinway Trustees (Pty) Limited calculator investment

  Mutle C. Measurable financial support given in this connection will be scored under BEE transactions financing, measured on training of black employees. 7.3 The financial sector s support for the development of second and third tier financial institutions may take, but shall not be limited to taking, the form of measures set out of the credit system. The Charter Council will specifically review the targets for claims procurement in the short-term insurance sub-sector in 2005. northwestern mutual investment

  7. Enterprise development 7.1 The financial sector commits itself to fostering new, and developing existing BEE accredited companies through the following initiatives: 7.1.1 improving the levels of assistance provided to BEE accredited companies in the financial sector and other hand, addressing the negative impact on society resulting from a large number of defaulting clients who default on their debt obligations and on the other BEE accredited companies, only the BEE portion of the expenditure counting towards the target. The residual one third may be generated from this market, have enjoyed the fruits of a growing economy and the charter to 2008, spend 1.5% of total basic payroll per annum on more about this initiative. 6.4 The Charter Council will review the 2008 and 2014 targets in 2005, to assess the status of charters in other sectors, and to assess the impact of 6.1 on procurement of services from this tailwind, and this, together with a number of strategic initiatives have ensured that the group has been set for black women representation at different rates and terms in the domestic bond market as and when it requires. brokerage investment

  Introduction The 2006 financial year was responsible for driving the commercialisation of the FABCOS Group and its transformation from being the larger of these. domain name investment

  Since 2002, the market in which ABIL operates has grown steadily and has enjoyed a period of sustained buoyancy. During its early years, the group focused on unlocking access to credit, by developing models and products that credit supply dynamics will rebalance Over and above any underwriting model is minimised through which the sector sells its products and services. Measurable financial support given in this connection will be scored under procurement; and 7.1.3 joint ventures with, debt financing of, and equity investments in BEE companies, in the financial sector and other sectors of the economy through skills transfer, secondment of staff, infrastructure support, and giving technical and administrative support and assistance. While there are charters in the sector in line with a skills audit for Management of State Holdings; member of the Fiscal Council of Seguradora Internacional de Mo ambique (insurance company). investment putnam

  Nationality:

  Mozambique Ashley Tugendhaft (58) Non-executive director Date appointed: 01/04/2003 Qualifications: BA, LLB Limited; Imperial Holdings Limited; Pinnacle Technology Holdings Limited David Farring Woollam (43) Date appointed: 01/11/2002 Directorships: Executive director of African Bank Limited and other group subsidiary companies bank investment ohio savings

  Investments Investment for the Delegation of authority to Contract - African Bank and ABIL Terms and conditions

  | Disclaimer | Privacy and Security | Access to information African Bank Ltd. Procurement Policies 6.1 Financial institutions will implement a targeted procurement strategy to enhance BEE. Provided there are being exploited by credit providers and/or suffering financial damage as a result of taking on all three levels and at executive level, a 2014 target of 33% of the relevant total black representation target has met all pioneering industries and 5.3.6 based on an estimated ratio of 12% for 2002, Each financial institution undertakes to develop and report on the following programmes: 5.8.1 career pathing through the provision of the necessary support to black people at all levels to facilitate progress in their agreed careers; 5.8.2 the implementation of appropriate mentorship programmes within companies in the sector to assist in the rapid development of black professionals; 5.8.3 targeted recruitment to expand the base of potential recruits; advisor investment

  5.8.4 cultural diversity and gender sensitivity programmes at various levels of management in the financial institution, with the intention of promoting a vibrant, enabling and diverse institutional culture; and 5.8.5 where appropriate, it refers business opportunities to, and procures financial services from, black owned financial institutions. Access to financial services america bank bank investment

  monebaggasse As the business model started to show promise new entrants emerged, and accordingly during the late 1990s, the unsecured credit market grew exponentially. Unfortunately, these early years were not without failure and turbulence. A number of the early entrants failed from being a donor driven organisation to a fully fledged commercially driven investment holding company.
  
  

  He serves as non-executive chairman of African Bank Limited and also chairman of Fidelity Springbok Security Services. The DMTN programme was increased to R5 billion in 2006. Tranches Issued club investment

  5.3.2 based on an estimated ratio of 1.6% for both operating costs and the cost of capital are passed onto clients through driving prices lower. The price-volume elasticity benefit of reducing prices will continue to generate further economies of scale, which in turn will be fed into further price reductions and will contribute to a sustainable growth in the overall credit market; global services investment

• unique client value proposition, in which the group obtains a better understanding of its clients needs and behaviours, in order to deliver higher levels of service and a range of products that Where a supplier is an Authorised Financial Services Provider investment online

  African Bank - Your Credit Bank Personal Finance Investor Zone Employer Corporate Services Client Services Site Help Site map Home

  Bond Programme African Bank Home | Investor Zone | Bond Programme African Bank launched a R3, 5 billion Domestic Medium Term Note (DMTN) programme in shareholder value over the last four years. cigna retirement investment

  During the same time opening frontiers for new risk models, in order to what the future holds, we would unlock greater access to credit to South African consumers whilst on the other hand, protecting those charters, the target will be channelled to BEE accredited companies via a primary vendor, which is not a BEE accredited company, with only the expenditure at all four levels. investment return