01 May

CABAN BBBEE INITIATIVE Featured

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Caban is proud to announce one of its most ambitious initiatives yet. Through this initiative, it will create two BBBEE companies, one of which will be the official BBBEE associate of Caban.

 

The Opportunity

 

Caban requires a BBBEE partner to facilitate transactions for its clients. It has sought various role players in the industry but has not found any that aligns with Caban’s mantra. For that reason, Caban has created this initiative to develop BBBEE companies that will follow our philosophy. The company will select 24 applicants from all walks of life and place them into two companies. The applicants will have equity control of the companies. The Caban service providers will mentor these individuals and provide them with the necessary tools to succeed.

 

Two Companies

 

Caban will register two companies. Each company will compete against the other. The winner will be our official BBBEE associate. The second placed company will still be active, to a lesser extent.

 

At the end of the initiative, the winner will acquire 26.1% of United Energy Group (Pty) Ltd for R500, 000.00 (financed by Caban), a 50% discount on money already spent for the ER Technologies project. This is the Group’s Renewable Energy Company. Renewable Energy is the next “ big thing” in investment. Furthermore, they will get shares in two of Caban’s clients.

 

The basis for determining the winner will be as follows:

 

• Monies raised for the company and Caban
• Business brought in for the Caban Service Providers
• BEE concluded deals brought in by the participants

 

The accumulated value of the above activities will determine the winner.

 

Caban's Contribution

 

We will do the following for each company:

• Inject R200,000.00 value of Caban shares
• Supply R100, 000.00 worth of services from the Service Providers

 


The above will be injected as Share Capital. Each company will have to go through the process of doing business plan, website, cards, video clips etc. The whole process from start to finish will be documented on film and promoted through various channels.

 

How it will Work

 

As from 2 May 2013, applicants can start sending their CVs and motivation to This email address is being protected from spambots. You need JavaScript enabled to view it. . Applicants are required to pay a R300.00 entrance fee. The participants that don’t qualify will be given free Caban shares to the value of R300.00.

 

  1. During the month of May, applicants will be short-listed to 60. This process will be done by Glenda and the Caban Ambassadors.
  2. On 31 May, the Caban Service Providers together with Caban Ambassadors will select the final 24 and allocate into two companies.
  3. On 1 June, the shareholders of the two companies are announced.
  4. On 2 June, a board of directors and CEO are announced for each company.
  5. From 2 June, mentorship from the Cabanites commences.
  6. On 3 June, the participants start drafting a business plan and get into action through accumulating wealth for the respective companies.
  7. By 15 June, names are selected for their respective companies, websites and FB pages are developed.
  8. Through the six months of this initiative, participants will be informed of their performance. This will also be featured in various social media platforms.
  9. At the end of July, evaluations will be done on each participant. The two lowest performers from each company will be replaced by new participants.
  10. This process is again repeated at the end of September.
  11. On 30 November, the winner will be announced.
  12. On 3 December, all participants will get their share certificates.
  13. On 7 January 2014, both companies officially open for business.

 

Shareholding

 

Both companies will have the following shareholding:

 

• 60% to be held by 12 shareholders (5% each) in each company;
• 40% to be held by Caban.

 

Each company will select 4 directors and one CEO. We will mentor the board of Directors, in particular the two CEOs. Nobody will earn any salaries for the duration of the competition. Thereafter it will be agreed by the individual companies how they move forward. TBL Capital (Pty) Ltd will have a management agreement in place to assist in the management of the companies. The participants and TBL will have equal say in the management of the companies for the duration of the competition.

 

They will be able to sell 15% of the companies to outsiders. This will be Caban’s share. Each 1% to be sold for R20, 000.00. Caban will receive the funds but will in turn lend the respective company R10, 000.00 per transaction at 10% interest per annum. If the full allocation is sold, Caban will be left with 25% interest in the respective company.

Read 39906 times Last modified on Wednesday, 01 May 2013 19:31

8 comments

  • Comment Link Tuesday, 28 May 2013 19:05 posted by Thobile

    how do we pay the entry fee, account number please

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  • Comment Link Thursday, 09 May 2013 23:33 posted by Mxolisi Cassius Mabuya

    I would gladly love to partake in this program.

    Report
  • Comment Link Wednesday, 08 May 2013 08:58 posted by Maureen

    Am in kenya..... Can I participate .

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  • Comment Link Tuesday, 07 May 2013 09:56 posted by Mutede Rowland

    I am very passionate about starting and running a business. I am a qualified artisan in the construction industry. I have also studied Company law, business finance, Investment management. Currently I am studying for Civil Engineering programme with Unisa. I wish to be included in your programme.

    Report
  • Comment Link Tuesday, 07 May 2013 09:24 posted by Sihle

    I'm a 3rd year marketing student at DUT, I have a business ideal what must I do and how can u help me

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  • Comment Link Saturday, 04 May 2013 09:57 posted by Puseletso

    Please place me in this program. I deserve this.

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  • Comment Link Saturday, 04 May 2013 09:54 posted by Puseletso

    Please put me in as a participant. I deserve this.

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  • Comment Link Friday, 03 May 2013 16:43 posted by Molefe Molefe

    Im interested in participating in this programme ,however I will like to know if individuals from Botswana can be allowed to participate.

    Thank you

    Report
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