1994

01 Jan 1994

• Thebe raises R500m to launch SA Express Airways (51% Thebe-owned) in a turning point in the company’s history
• Acquisition of 51% of Safrican Insurance with Fedsure remaining as managing partner (Safrican began as a burial society in Sophiatown in 1932)
• Establishment of wholly owned subsidiary Msele Financial Holdings as nucleus of a future Merchant Bank
• Acquisition of 50.1% of insurance broker Hubert Hoskens from Alexander Forbes (renamed Thebe Hoskens)
• Sale of residential real estate company Yesive Properties
• Establishment of Rainbow Construction in a Thebe Properties-led partnership with Wilson Bailey Homes and independent builders from Soweto
• Establishment of Bhekisizwe Computer Systems in partnership with Persetel
• Acquisition of controlling interest in Citizens Bank in a transaction funded by First Corp
• Sale of 49% of Oriole Travel to Rennies Travel
• Development of radio station Kaya FM begins