Holding Companies/Group Treasury

ABC BANK
ABC bank, which is a banking group originating out of Zimbabwe, is also one of the companies that we have operating out of the IFSC. They too have been given two tax certificates, the first for a banking operation and the other certificate allows the bank to operate as a holding company that provides financial and other support services to its subsidiaries.

LSG SKY CHEFS

SEED CO INTERNATIONAL LTD
Also out of Zimbabwe is Seed Co International, a seed manufacturing company, that has significant operations in several countries in sub-Saharan Africa, and that also trades its seeds as far north as Egypt. The IFSC Company that it has set up manages the financial affairs of these operations through a holding company and a group treasury structure.

WILDERNESS SAFARIS (PTY) LTD
Wilderness Safaris (Pty) Limited was approved as an IFSC Company by the IFSC Certification Committee at its sitting on the 25 July 2003. Wilderness Safaris is a tourism operator that hosts exclusive up market safari tours in the Southern African region. They have set up an IFSC Group Treasury Operation to consolidate and therefore effectively manage their group funds.

BERGSTAN AFRICA
Bergstan Africa has been operating in Botswana, as a firm of Consulting Engineers & Project Management Services since April 1992, when the Company was registered under the name of Liebenberg & Stander Botswana (Pty) Ltd. In 2004 the company changed its name to Bergstan Africa. Bergstan Africa Financial Service will provide corporate, financial and management services to the network of Bergstan Business Units, which will be established in the different countries in Africa. The financial services to be provided by the company will include:

The provision of start up finance
The provision of bridging finance
The placing and management of excess finance
The provision of management accounting systems and procedures
The provision of standard for financial management system and procedures.

LETSHEGO
Micro Provident Botswana Limited has been accredited as a Botswana IFSC accredited company in order to enable it to expand its business enterprise to other African countries. The accredited holding company under the Botswana IFSC will roll out the Micro Provident Botswana business model in other parts of Africa. Micro Provident, whose trading name is Letshego, is a listed company that provides short-term finance to low and middle-income people working in the formal employment sector in Botswana.

The company is establishing retail financial services companies, as subsidiaries, that will offer a range of financial services products to employees of government, parastatals and the private sector in a number of African countries. Total earnings of about US$ 120 million are projected within the first three years of operations. Operations have already started in Swaziland, Uganda, Tanzania and the company will soon be recruiting for the Zambia office. The main shareholders of Micro Provident Botswana Limited are: PAIP-PCAP-FMO-Letshego Limited, which comprises Pan-African Investment Partners (PAIP), Pan-Commonwealth African Partners (PCAP) and Nederlandse Financierings Maatschappij voor Ontwikkelingslanden NV

Pangaea Development Holdings
Pangea Development Holdings (PDH) is a property development company focusing on the construction of large-scale housing estates targeting emerging middle class home buyers in Africa. In late 2007, PDH commenced infrastructure development in two countries, Zambia and Kenya. Hacienda Developments entails the creation of over 6000 lower-middle and middle-income houses and apartments outside Mombassa. Construction also started on the initial 50 units of a planned 3700 unit Lilayi Housing Estate Development Project in Zambia. FMO, the Dutch development agency has provided infrastructure financing at Lilayi, while mortgages will be guaranteed by Overseas Private Investment Corporation. PDH secured an Over-The-Counter listing of its stock on the Botswana Stock Exchange as a first step towards a planned listing on the Venture Capital Board in the coming financial year.

Enterprise Fedha Finance Company
Enterprise Fedha Finance Company (EFFCO) is a subsidiary of Southern African Enterprise Development Fund (SAEDF) that will focus on developing leasing and other asset-backed financing solutions for small and medium size entities in Africa. EFFCO will initially focus on business in Botswana, South Africa, Tanzania and Zambia; but will later expand into Angola, Malawi and Zambia. The company will originate and finance transactions directly and also with other partner financial institutions.