Following the Cipla Medpro acquisition, Enaleni now has one of the most broad-based black shareholding structures in the pharmaceutical sector. A group of 12 black-empowered companies and consortiums bought a R270m stake in Enaleni. With ownership by black senior staff, this brings overall BEE ownership to more than 33%.
"Almost everyone involved in the deal participates in some way in the health-care sector and brings knowledge and expertise about the industry to the table," says Amabubesi Healthcare head Gil Mahlati.
Enaleni chairman S'bu Luthuli says Enaleni is the leading empowerment pharmaceutical company in Southern Africa, well positioned to capitalise on the soon-to-be-finalised health charter.
The empowerment consortiums nominated Mahlati and Thembisa Dingaan as their representatives on the main Enaleni board. Both bring strong financial skills to the table.
Luthuli is Enaleni's nonexecutive chairman and sits on various audit committees as well as being MD of Ithala Development Finance Corporate. Luthuli sits on the board of Telkom. Dingaan is a lawyer turned investment banker with experience in mergers and acquisitions, as well as corporate law. Mahlati is a respected businessman who has considerable experience and knowledge of the pharmaceutical industry.
"The great thing about Enaleni is that the management team has no preconceived ideas about how business should be done," says Dingaan. "Unlike more established companies, where the empowerment partners tend to be seen as a separate structure, we have the opportunity to be actively involved in the strategic thinking of Enaleni, because it is still young."
A business development committee, headed by a black executive, Harold Basson, is another interface between the consortiums and top management.
The empowered consortiums include a range of professionals from different fields in health care:
- Amabubesi Healthcare is an investment vehicle to fund new businesses in the health-care sector.
- Inala Consortium, led by Bongani Mlambo, is involved in medical aid administration and owns various pharmacies.
- The Yonga Consortium, led by Bongani Caga, includes the Democratic Nursing Organisation of SA (Denosa) among its members. It represents 80 000 nurses and midwifery professionals.
- Safika Investments was formed in 2005 as a vehicle to invest in private equity transactions with an emphasis on companies requiring BEE partners.
- The New Era Consortium and the Laxmi Group are involved in packaging pharmaceutical and consumer-care products for local and international companies.
- Two Ships Trading is led by Aubrey Mokoape. This group is Durban-based, with significant influence in the health-care industry.
- Aquarella Investments 54 is a consortium of local and international health-care and pharmaceutical businesses.
- Koketso Growth is lead by Dali Tambo and Mandla Langa.
- Other BEE investor groupings include black health professional networks and prominent business people such as Dingaan, Luthuli, Bobby Ramasia and Mbali Ngqula.
In support of the medical, nursing and pharmaceutical professions, Enaleni made a number of shares available to health-care professionals as part of the capital-raising exercise to fund the Cipla Medpro acquisition.
