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Our heritage is firmly rooted in the proud history of Bafokeng people who, through visionary leadership, pragmatism and the ability to make things happen, have remained resilient in the face of challenges to secure the long-term prosperity of Morafe (community).
We apply an inter-generational outlook to provide a dividend income and portfolio capital appreciation to our sole shareholder, the RBNDT, through prudent management of an investment portfolio. RBNDT holds all the RBN’s commercial interests and assets and invests the returns on local infrastructure and social development initiatives through RBN Entities to provide Socio-economic empowerment for the Nation and those who live in the RBN. Since our inception in 2006, we have invested R9.3 billion towards the socio-economic benefit of the RBN.
RBH Portfolio Investment Timeline
2006
- RBH formed through the merger of Royal Bafokeng Resources and Royal Bafokeng Finance
- KGOSI Leruo Molotlegi appointed founding chairman
- First acquisition of a non-mining asset through investment in Astrapak
- Acquired 100% of Fraser Alexander
- Introduced structured CSI and transformation strategies and produced first annual report
2007
- Acquired Mining, Oil and Gas Services Proprietary Limited (MOGS)
- RBH becomes largest shareholder in Implats with 13.4% stake following B-BBEE transaction
- Acquired 25.01% stake in DHL
2008
- Acquired 1.97% stake in Vodacom SA, RBH’s first investment in telecoms sector
- Increased shareholding in BRPM joint venture to 67%
2009
- Increased equity in MOGS from 50.1% to 100%
- Transfer of economic and management control of the BPRM from Anglo Platinum to RBH
2010
- RBPlat is formed, takes over management of Bafokeng Rasimone Platinum Mine (BRPM) joint venture (JV) and lists on the Johannesburg Stock Exchange (JSE) (RBH’s interest in the listed entity is 52.8%)
- Acquired 10.5% shareholding in Atterbury Investment Holdings
- RBH internship “Class Of” programme is established
2011
- Acquired initial 5% stake in RMB Holdings (RMH) and RMB Insurance (RMIH), followed by an additional 10%, increasing its investment in RMH and RMIH to 15%, respectively
2012
- Appointed the first Black female and independent board chairman
- Appointed the first black female CEO
- Mining exposure reduced to approximately half of portfolio
2013
- Increased Attacq stake to 15%; Attacq listed on the JSE
2014
- Acquired 16.7% stake in STANLIB Infrastructure Fund, creating renewable energy exposure
- Acquired 27.71% interest in Dipalopalo, which entered a publicprivate partnership (PPP) agreement to provide the Department of Statistics South Africa with head office accommodation
2015
- Acquired R500 million in NEPI
- Acquired 30% stake in JC Decaux SSA
- Entered joint venture with Zenprop UK
- Acquired infrastructure and energy assets – Adams and Electra (30% interest in each)
2016
- Acquired 50% interest in Royal Investment Managers
- Increased investment in NEPI
- RBH and Liquid Telecom acquired 30% stake in Neotel
- Reduced shareholding in MOGS to 51% and concluded strategic partnership with Public Investment Corporation (PlC), which now owns 49% shareholding in MOGS
2017
- Transferred 30% Neotel stake to Liquid Telecom, resulting in 10.3% holding
- Acquired 25.1% interest in infrastructure and energy assets, Sishen and Gouda, respectively
- MOGS launched Sunrise Energy
2018
- Started the disposal of Implats shares and the stake was reduced to 5% by end of 2018
- Reduced exposure in financial assets
- Flipped Vodacom SA stake to Vodacom Group via YeboYethu transaction
- Launched Chartered Accountancy training programme
- Launched Iterele Mosha learnership programme
2019
- Exited remaining Implats shareholding and used proceeds to reduce debt by 30%
2020
- Liquid Telecom restructured its business for its Africa Data Centre strategy
- Acquired stake in Transaction Capital Limited
- Acquired 30% stake in Hall Core Water
- Established COVID-19 Relief Fund
2021
- Disposed of majority stake in RBPlat to Northam Platinum
- Unlocked shareholder value in mining assets through the transaction with Northam Platinum, which included commitments to address significant socio-economic development needs in the RBN
- Acquired 6.63% stake in Dis-Chem
- Acquired stake in Growthpoint’s purpose-built student accommodation
- Acquired stake in Distributed Power Africa (DPA)
- Acquired stake in global infrastructure fund (I Squared Capital)
- Special dividend of R175 million declared to fund RBN water infrastructure solution
- Partial disposal of FirstRand as part of the diversification strategy
2022
- RMI unbundled Discovery and Momentum resulting in RBH holding a 3.8% and 3.5% direct stake, respectively
- Allocated $35 million to global equity funds
- Allocated R150 million investment into a local hedge fund
- Acquired stake in Enviroserv
- Acquired stake in Kenya LPG Terminal (KEG)
- Commenced RBN social projects funded by the dividend from the Northam transaction:
- Commenced planning for a renewable energy and battery storage project for the RBN
- Established an enterprise and supplier development fund for the RBN SMMEs
- Established an artisan training programme and trade school to reduce youth unemployment in the RBN
- Declared a special dividend of R175 million to fund RBN water infrastructure solution
2023
- Disposed of remaining stake in Momentum
- Disposed of remaining stake in RBPlat, which contributed to significant debt reduction
- Allocated $31 million towards global equity funds
- Allocated $25 million towards fixed income funds
- Continued implementation of the RBN social projects; committed to following the 2021 platinum transaction
2024
- Fully repaid portfolio recourse debt
- Global equity fund allocation increased
- NAV increased by 15% to approximately R56 billion
- Disposed of remaining shareholding in RMH
- Transaction Capital unbundled, resulting in 3% shareholding in WeBuyCars
- Acquisition of Swiftnet (Telkom Towers business) approved
- Allocated funds to a local fixed-income bond portfolio
- Continued implementation of the RBN social projects arising from 2021 platinum transaction
- Increased property allocation through additional R500 million investment in NEPI
- Acquired a stake in Boxer Limited upon its JSE listing
- Additional shares acquired in Boxer, resulting in a 3.49% shareholding at year end
- Partial disposal of Dis-Chem shareholding to 5% to unlock shareholder value
2025
- Shareholder dividends increased by 8%, maintaining above-inflation returns
- RBH’s financial strategy remains focused on preserving capital, sustaining liquidity and supporting predictable distributions to the shareholder
- NAV increased by 18%, reaching R66 billion, driven largely by the strong performance of our insurance assets
- Partial disposal of Northam shares as part of portfolio risk management
- Additional shares acquired in WeBuyCars, resulting in a 4,7% equity shareholding at year end
- Additional shares acquired in Boxer, resulting in a 3,49% shareholding at year end
- Completed 30% acquisition of Swiftnet, a digital infrastructure investment