Latest News

 

Solethu acquires a 25% shareholding in Racec Limited in order to grow its footprint in rail and logistics

 

RACEC Group Limited, the AltX listed rail and electrification infrastructure solutions company, announced the details of an agreement which it has entered into with Solethu Investments, a black economic empowerment investment company.

 


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Solethu Investments
Group Structure


Solethu Investments is 95% black controlled and is 80% black owned on a flow through basis.

Solethu shareholding structure ensures that it is a black controlled empowerment entity with a sustainable black shareholding base.


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Directors

 

 

Qedukwazi Ted Zulu - Chief Executive Officer

Ted is the founder and major shareholder of Solethu. He has developed a deep understanding of rail operations during his 8 year tenure at Spoornet where he was managing the coal terminals, mining sector and cement sector. He has used this experience in Rail and Logistics related services to the successful development of RRL Holdings. Through Teds rail expertise he has been heavily involved in helping the Bridge Shipping Group to achieve its objectives of increasing their tonnages and thus helping them achieve their growth in profitability.

Stephen Smithyman - CA(SA), Commercial Director

Stephen Smithyman has recently joined Solethu. He was previously an Investment Banker within the Standard Bank Group. Stephen spent 8 years with Standard Bank focusing on leverage finance, structuring and funding black empowerment transactions and generating new business opportunities. His role with Solethu is to help Solethu in structuring its transactions and assisting their underlying investments to reach their full potential.

Thys Warricker - (CFA) SA Financial Director

Thys Warricker comes from an Auditing and Accounting background and has been involved with RRL Holdings just after inception thus giving him a good understanding of the rail business and industry. During his accounting days his clients included other players within the transport industry.

Ethan Dube - Non Executive Director Solethu and Chief Executive Officer of Vunani Limited
Qualifications - MSc Statistics, Executive MBA (Sweden) Ethan has gained significant corporate finance and asset management experience over the years. He worked for Southern Asset Managers for three years as a Senior Analyst and for Standard Chartered and Merchant Bank for two years in the Corporate Finance departments. In 1996 Ethan founded Infinity Asset Management with three other partners and in 1998 he started Vunani Limited, an investment banking company where he is the current Chief Executive Officer.

Siyabonga Buthelezi, Non Executive director of Solethu
Siyabonga is a Civil Engineer he has obtained a National Diploma, S4 Level, in Civil Engineering. Siyabonga worked at Anathi/Ingerop Africa Consulting Engineers since December 2002 until August 2005. Siyabonga has furthered his career when employed by Bridge Shipping, specialising in Logistics Management.