06 Aug

Caban BBBEE Initiative - 2 Month Update Featured

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It has been an exciting process mentoring these fine individuals. We are impressed at how eager the participants are at willing to learn and quickly understand what we are doing. All participants are already carrying the Caban mantra forward. Three of the participants have been invited to be Caban Ambassadors.
The participants have completed the first two months. They have chosen their names as follows:


• North Initiative  - Investure
• South Initiative – Diversified Growth Investments (DGI)


Changes in Participants


When we developed the competition, we anticipated that there would be some participants that would find the process too demanding on their time. It was also anticipated that some would decide not to continue with the competition. DGI has been reduced to 5, and Investure has 11 participants left.


Status of Tasks


As part of the competition, a task system was introduced to have a mentoring system in place so that competing companies emulate the business model of Caban and to follow its mantra.  The tasks completed are as follows:


• Task 1 - Choosing of name;
• Task 2 - Choosing a board of Directors and nominating a CEO.


The following tasks are at hand:


• Task 3a - Reaching  R50,000.00 in capital raising – Investure has completed this task;
• Task 3b – Reaching R100,000.00 in capital raising – Investure has completed this task and won 120,000 Caban Shares;
• Task 3c –Reaching R150,000.00 in capital raising – Still in progress;
• Task 4 – Generating R100, 000.00 worth of business - Investure is presently busy with 5 projects. We are mentoring the participants to be able to conclude Corporate Finance transactions;
• Task 5 – Introducing CSI projects for Lifestraw.  The reward for this task is a 26.1% in Lifestraw CSI. The winner of this task will be determined  end  August;
• Task 6 – Introducing new clients to the Accounting Practice.


As the competition progresses, further tasks will be introduced. The objective is to obtain the necessary skills to emulate Caban.  

 

Point System


As the competition evolves, we adapt the adjudication process to make it fair for the participants. To this end, we have added the following point system:


• For every R1 capital raised = 3 points;
• For every R1 worth of business generated = 1 point;
• For every R1 introduced to the accounting practise = 2 points.
These points are added to the net asset value of the respective companies to determine the ultimate winner.


Who is in the lead?


The current status of the companies is as follows:


Investure


• Points                             309,000
• Net Asset Value            R 217,327
• Total Score                     526,327


DGI


• Points                                    0
• Net Asset Value          R 200,000
• Total                            200,000


Therefore, Investure is currently in the lead.


Conclusion


This Initiative is unique. It is exceeding our expectations in terms of the value- add to Caban. More importantly, we are developing entrepreneurs.  Watch this space as the pace of the competition intensifies.

 

Read 9556 times Last modified on Tuesday, 06 August 2013 14:22
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