BlueSpec is a 51% black-owned, BB-BEE level 1 accredited business. The Group is majority owned by Wiphold and African Rainbow Capital (ARC).
The Group’s BEE partners have impeccable reputations. They are:
• WIPHOLD (Women’s Investment Portfolio Holdings)
• ARC (African Rainbow Capital)
In 1994, WIPHOLD Founders including Louisa Mojela and Gloria Serobe, conceived the idea of establishing a women-owned and managed black investment firm. Today WIPHOLD has strategic investments in key sectors of the economy, from financial services and agriculture to mining and cement manufacturing. Their investment philosophy is to focus on investments that offer long-term value and returns which they can use to drive their broad-based empowerment initiatives. These are focused on the sustainable economic empowerment of black women. Currently Wiphold adds value and brings hope to more than 200 000 beneficiaries. The Group’s unique structure gives direct ownership to these women through the 33,5% stake they hold in the business through the WIPHOLD Investment Trust and WIPHOLD NGO Trust.
WIPHOLD has also developed considerable expertise in the conceptualization and implementation of social impact business strategies, not only for its own business, but also for those companies in which it invests. These strategies focus on aligning a company’s core business activities with South Africa’s transformational and developmental challenges.
“The investment in Bluespec comes at an important time in the economic and political climate of South Africa. Bluespec is in a prime position to cater for insurance company commercial procurement requirements and WIPHOLD brings the experience, knowledge and skills to add value in the economic transformation initiatives and goals that Bluespec intends to deliver on.” Gloria Serobe –WIPHOLD, CEO
ARC is a fully Black-owned and controlled company focusing on the South African and African Financial Services Industry and businesses that delivery exceptional returns on equity. It is listed on the JSE, under the Finance – Speciality Finance Sector.
ARC is a 100%-owned subsidiary of Ubuntu-Botho Investments (UBI). Ubuntu-Botho Investments was created in 2004 with its initial main purpose building Black-controlled capital through being Sanlam’s empowerment partner. In addition, the vision of Ubuntu-Botho Investments from the outset was to make a difference to the lives of ordinary South Africans by being the premier Black-owned and controlled financial services entity.
The first phase of realizing the vision was the accumulation of capital in partnership with Sanlam. The objective has now largely been achieved, with Ubuntu-Botho Investments holding about 14.5% of Sanlam’s issues shares and being valued at R17bn at present.
The second phase will entail partially investing this capital in African Rainbow Capital which is set to become a leading South African based, Black-owned and controlled financial services company.
ARC makes a difference on a broad front by supporting deserving communities and causes, through wide-ranging social and corporate investment initiatives. They strive to uplift previously disadvantaged individuals and assist them to achieve financial independence during their lifetimes. They also support diverse groups such as trade unions, churches, traditional leaders, women and youth through Ubuntu-Botho Investments.
“The biggest contribution ARC can provide to the broader community is to be a world class company. The challenge is to, firstly, use that world-class base to create money for our shareholders and secondly to plough money back into communities to make a difference.” Johan van Zyl, ARC CO-CEO
“If we continue doing the right things in South Africa and Africa, we can create a very exciting and competitive global market here.” Patrice Motsepe, ARC Chairperson