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21 November 2006
Andisa Regains BEE Credentials on sale
ANDISA Capital has regained its empowered status, following Standard Bank’s sale of the majority of its
equity in the business to Safika Holdings and Management, the group said yesterday.
Standard Bank reduced its stake in the business from 79% to 20%, giving management a 25% stake in the
business and raising Safika’s stake to 55%.
Andisa MD Antoinette Sedibe said management would fund its portion of the deal with a loan raised
through Standard Bank. She could not disclose how much the transaction was worth.
Previously majority black owned, Andisa was brought back under Standard Bank’s umbrella last year when
Nduna Trust’s Ronnie Ntuli, a shareholder in the business, exchanged his stake for a majority stake in its
private equity business, lifting Standard Bank’s shareholding from 49% to 79%.
Standard Bank subsequently sold a 50% stake in the securities business housed in Andisa to Credit
Suisse, forming Credit Suisse Standard Securities. Andisa Capital retained the original treasury
management services business.
The business has clients across most industries, with a particular focus on the resources sector. Clients
include Northam Platinum, Ashanti Gold, Harmony, Metorex, Tiger Brands and KWV.
Sedibe said it had managed to retain its employees, which include about 28 professionals, despite the
changes in shareholding of the past couple of years.
“Our business is about people and changes can demoralise people a bit” she said. “Our clients have
retained confidence and trust in the business.”
Sedibe said it was important to retain Standard Bank as a minority shareholder, while becoming black
owned. Standard Bank’s support added to its credibility, but it would have been a problem to remain
owned by the bank as many of Andisa’s clients were multibanked and needed an independent treasury
management service.
Black ownership would also help the business from a client procurement perspective, she said.
Sedibe said Andisa would continue to focus on growing the treasury management services business.
“There’s so much scope to grow the business, particularly with all the activity in resources in the volatility in
prices,” she said.
Standard Bank said the deal was in line with its strategy of ensuring empowerment at all levels in the
financial services sector.
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