Lessons from the Vodacom YeboYethu by Craig Gradidge Of Gradidge Mahura Investments
Our company turns 10 this month. On 26 June 2008 CIPRO (as it was known back then) confirmed that our business had been registered. Kagisho and I went for dinner that evening to celebrate this milestone! All the talking, planning and dreaming were now kicking into action. It was an exciting time in South Africa in general. Markets had been going up strongly for almost 5 years, the economy was growing, property prices were soaring. Fast forward a few months and President Thabo Mbeki is recalled, the global financial crisis hits global and local economies hard, interest rates shoot up, the currency falls off a cliff, and the stock market loses almost 40% of its value in a matter of months.
In the middle of everything, Vodacom announced a BBBEE deal, YeboYethu (YY). The deal came to the market soon after Sasol’s hugely popular Inzalo deal had gotten investors all…
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