The SNIC Group Ltd is a black owned investment and entrepreneurial public company
that operates in a number of fields but with a bias towards the Property
sectors. The group operates in a number of major
African economies and other emerging markets and has partnered with large listed
and private multinational groups.
Our primary focus is to be entrepreneurial in our approach and we actively seek
out investments where our strong leadership can transform infant or maturing businesses
into large institutions which have the capacity to create jobs in emerging economies.
We are well connected in a number of African countries and are able to implement
complex investments in both the private sector and through PPPs. We also play a
responsible role in the local economies where our footprint stretches and we believe
strongly in maintaining the cultural integrity of our target companies.
The SNIC Group has also completed a number of major Black Economic Empowerment transactions
in the aviation and financial services sectors in South Africa and continues to
grow its partnerships as a dependable BBBEE partner.
Our vision is to pioneer the African dream through entrepreneurial excellence, perfected wisdom and empowered laconic commerce.
Our mission is to create integrity driven partnerships with like-minded global businesses that operate in high value-adding sectors in the African economy.
SNIC BOARD OF DIRECTORS
The SNIC Group has put together a board of directors that has a blend of youthful
exuberance balanced with superior corporate and entrepreneurial experience. The
skills base on the board ranges from solid financial acumen all the way to proven
The members of the board of directors of the SNIC Group are:
Dave S Avnit CA (SA) - Group Executive Chairman
The SNIC Group is privileged to have Dave Avnit as the Executive Chairman of the
Board. Dave is a highly experienced entrepreneur who has succeeded in a Corporate
and Entrepreneurial capacity. Dave has an MBA from Wits and has extensive corporate
leadership experience including being the former Chairman of Fedsure Health Ltd
and Non-executive director of Netcare Ltd. Over the past ten years Dave has been
Chief Executive of the Ayres Global Aviation Group which has been active in Africa
and the East. Dave is also the past chairman of the African Chapter of the Young
Presidents Organization (being the largest global business network) and has been
a member of a number of international committees. Dave is also a qualified pilot.
Dave was Chief Executive and Chairman of a number of companies in the Fedsure Group
focusing on Life Insurance, Banking and Health care. He concluded a number of significant
acquisitions and joint ventures in these various areas of business activities and
grew the operations from a Turnover of R170 million to R3 billion with a staff compliment
of 3,000. With Dave at the helm, assets increased from R300 million to R40 billion
over a ten year period. Prior to this Dave headed a successful Management Buyout
of an electronics company eventually selling it to its largest competitor. Dave
is a qualified Chartered Accountant and he has lectured at various business schools
in the United States and South Africa in the areas of Strategy and Acquisitions
for over 12 years.
Siphiwe Nodwele - Group Chief Executive Officer
The SNIC Group is led by its founder and Group Chief Executive Officer, Siphiwe
Nodwele. Siphiwe read his LLB at the Oliver Schreiner School of Law at the University
of the Witwatersrand and subsequently completed a Masters degree in corporate law
at the same institution, with Banking & Finance and Advanced Mergers & Acquisitions
Law as sub majors. Siphiwe has also worked at two of the top 5 corporate law firms
in South Africa, Deneys Reitz Attorneys and Bowman Gilfillan Inc. In 2008, Siphiwe
was appointed Chief Operating Officer of Umkhandi Investments (Pty) Ltd, an investment
company with interests in the Human Resources, Consumer Electronics and Timber sectors.
As group Chief Operating Officer, Siphiwe's primary role was that of deal origination,
deal strategy, due diligence, execution and creating a platform for listing. Umkhandi
acquired a R60 million turnover Human Resources company during Siphiwe's tenure
and he lead all the back office legal and finance work.
Siphiwe was later appointed as the Chief Executive Officer of Umkhandi Resources
(Pty) Ltd where he initiated the acquisition of a listed company with a R300 million
market capitalization on behalf of Umkhandi Resources. More recently, Siphiwe has
been the Head of Legal for Endulwini Resources Limited, a junior coal mining company
that exports coal through the Richards Bay Coal Terminal. Siphiwe also sits on the
Executive Committee, Audit Committee and the Social and Ethics Committees of Endulwini
Resources Limited and also serves on the boards of Endulwini Capital and the Ayres
Global Aviation Group.
Witness K Makhubele - Non-executive Director
Witness is a corporate lawyer and a partner in one of the major corporate law firms
in South Africa, Edward Nathans Sonnenbergs Inc. He specialises in takeovers; mergers
and acquisitions; providing legal advice and drafting of agreements/documents in
relation to sales and acquisitions of businesses, shares and assets, schemes of
arrangements, restructurings and unbundlings.
He also advises on the regulatory aspects and environment of transactions, such
as the JSE Listings Requirements, Securities Regulation Code, South African Reserve
Bank approvals, etc. Witness brings with him his expertise on negotiating and the
structuring of black economic empowerment transactions, having been involved in
some of the major BEE transactions of major listed companies. He also advises on
company and board structurings. He has a total of 13 years of legal experience.
Witness read his Biuris and LLB at the University of the North and has a Masters
degree in corporate law from the University of the Witwatersrand.
Edward L Semenya - Non-executive Director
Edward is a product of the University of Witwatersrand. He completed his Bachelor
of Commerce degree with Accounting as a first major and Management Accounting &
Finance as a second major. Whilst his educational background lies within the Accounting
arena, his exploits and expertise lie in the Investments field. The beginning of
which, being his time at Absa Fund Managers. This entailed dealing expressly with
high volume unit trust investments for both retail as well as institutional investors.
Edward then joined corporate giant RMB Asset Management as an Investment Specialist
following his time at Absa Fund Managers. The need for this more skilled position
in such an environment is what primarily blends with his analytical yet charismatic
nature. This position as Specialist entailed thorough knowledge of the RMBAM investment
range whilst at the same time being able to attract high net worth investment. Subsequently,
Edward has joined Liberty Life and Stanlib Investments to fulfil a similar but more
hands-on role. This position has allowed him to add a Wealth Management qualification
to his knowledge base whilst at the same time pursuing his post graduate degree
in the same discipline. In his capacity as Non-Executive Director of SNIC, he will
not only provide a wealth of insight but also elevate the Group with his dynamic
approach to doing business.
The SNIC Group investment philosophy is founded on 3 basic principles:
- i) The target firm must be operating in one of the four high growth industries we have identified;
- ii) All businesses that we are involved in are entrepreneurially driven; and
- iii) We will only participate in high cash generative companies.
The SNIC Group, through its industry specific subsidiaries, will look at equity
investments of between R10 million to R150 million depending on the particular sector
and will only participate in transactions where it can acquire a minimum of 20%
of the issued share capital of the target company. We do consider larger investments
on an ad-hoc basis. For further details on industry specific investments, please
see the sector breakdowns.
The type of investments made by the SNIC Group will be analysed on a deal by deal
basis and may include pure equity investments, equity-debt combinations, and short
term debt funding on highly secured transactions. Our investment horizon will also
be determined on each transaction; however, our general approach will be guided
by the chart below depending on the type of investment made.
The SNIC Group investment process is made up of four components, which depending
on the size of the investment; the sector concerned; and the geographical location
of the transaction; the deal can be concluded between 2 and 10 weeks:
- i) Deal origination: The executive committee (comprising of the executive chairman
and the chief executive officer) identify and source potential transactions that
meet the company's investment criteria.
- ii) Deal investigation: If the executive committee is comfortable with the prospects
of a particular transaction, they will have preliminary engagements with the target
company and evaluate the feasibility of the investment and a soft due diligence
will be conducted.
- iii) Due diligence: If a potential transaction passes the investigation phase
then a full scale due diligence will be conducted focusing on all the legal and
financial aspects of the transaction.
- iv) Investment committee: Should the due diligence outcome be satisfactory to
the executive committee, a detailed investment proposal will be made to the investment
committee (consisting of the board of directors and a representative from all the
major funders of the SNIC Group) and the investment will only be made if the investment
committee approves the transaction.
The SNIC Group is well positioned to be your company's dependable black economic
empowerment partner under the South African Broad Based Black Economic Empowerment
Act 53 of 2003. To this end 26% of the SNIC Group is owned by a broad based trust
that beneficiates women, youth and education based organizations representing historically
disadvantaged individuals in the Kwa-Zulu Natal, Limpopo and Eastern Cape regions
of South Africa. This trust is the largest shareholder of the SNIC Group thus reinforcing
our commitment to broad based economic transformation. The SNIC Group is a certified
Level 3 BEE Company with a 110% BEE Procurement Recognition.
These are some of the brands that the SNIC Group has partnered with as a BEE Partner:
The SNIC Group represents a unique proudly South African investment partner:
- We are truly broad based BEE group
- We are a successful match of youth, energy, white and black partnerships
- We currently have impressive deal flow in South Africa and other African countries
- We have a well-connected team
- We have an African foot print with a global reach
- We are invested for the medium to long term
Please email Siphiwe Nodwele, our Group Chief Executive Officer at email@example.com
to discuss your company's BEE needs.