Impumelelo 11th Edition

Page 195

PROFILE

FINANCIALS/ REAL ESTATE/ PROPERTY AGENCIES

AFHCO HOLDINGS

TERTIARY SEGMENT

3

www.afhco.co.za

VALUE PROPOSITION

The Afhco Group owns, develops and effectively manages inner-city residential, retail, commercial and light industrial property for rental purposes. It is today the leading Johannesburg inner-city property investment and management group, and is also one of the longest performing developers in the inner city. Wayne Plit started Afhco in 1996 and Renney Plit, his brother, joined him in 2001.Since then the group has remained very much a family business despite the addition, in 2006, of Old Mutual as a 50 percent shareholder in Afhco Holdings (Pty) Ltd. The group currently owns about 79 buildings, representing approximately 4500 rental apartments in the Johannesburg inner-city, providing homes to the affordable housing market and about 300,000 m² of retail, commercial and light industrial space. There are a further 4 000 units under development. The defined target market consists of households in the Johannesburg and Gauteng areas earning between R3 500 and R10 000 per month. The average income is R5 200 per month. Rentals generally range from R1 600 to R3 500 per month. Afhco’s apartments are in high demand from tenants seeking safe, modern, clean and well-managed homes. The Group formed a BEE company in 2004 named Rapiprop 101 (Pty) Ltd, in which it holds a 50 percent equity stake. The remaining 50% of equity is held by Khati Mokhobo – a director of Sun International.

WAYNE JEFFREY PLIT CEO

COMPANY INFORMATION STATISTICS/ DEMOGRAPHICS/ HISTORY Year founded: 1996 Founding members: Wayne Jeffrey Plit Employees: 318 Branches: Four (Johannesburg) Memberships: Property Owners Management Association (POMA ), Johannesburg Inner City Business Coalition (JICBC ) Strategic partnerships: Old Mutual Life Assurance Company; Kharnelo Trust, Amdec, International Housing Solutions, Kamelo Trust, Brozin Family

CONTRACTS & AWARDS Competitions won: National Business Awards: 2010 Sustainability and Beyond (2008), Halala Joburg Awards “Caring Joburg” for CityKidz Pre & Primary School (2009), Halala Joburg Awards: “Living Joburg” for Sambro House (2009)

BUSINESS & FINANCE Turnover: Private company Operating profit: Private company Net profit: Private company Financial year-end: September Subsidiaries: Afhco, Afhco Property Management, Afhco Property Administrators, Afhco Projects, Rainbow Place Properties 80, 120 End Street Property Investment, Morulat Property Investments 4, Elite Star Properties 3, Blazing Fortune Properties 9, Only The Best Properties 223, Dusty Gold Investments 3, Rapiprop 101, City Kidz Pre & Primary School Holding company: Afhco Holdings (Pty) Ltd Bank: Absa, Standard Bank Accountants: PKF Inc. Current customer base: Variety of residential, retail, commercial and industrial tenants Major accounts / key clients: McDonalds, Standard Bank, National Prosecuting Authority, Rand Clinic / Netcare, Poly Clinic, JD Group (Bradlows, Morkels and Russels), Fair Price, KFC, Chicken Licken, Traclo, Diva Fashions

shareholding

www.impumelelo.net

imp afco holdings2.indd 3

“The Group formed a BEE company in 2004 named Rapiprop 101 (Pty) Ltd.”

RENNEY DAVID PLIT COO

EMPOWERMENT STATUS Black Empowerment Level

5%-25%

21%-50% executive directors / senior management

>50.1% total staff

Gender Empowerment Level

5%-25% 25.1%-50% >50.1% shareholding

executive directors / senior management

total staff

FAST FACTS 1. Develops Inner City Communities 2. Many social development initiatives aimed at improving the lives of people living in the Johannesburg Inner City 3. Below 0.5% bad debt and vacancies 4. Employed 52 staff members in 2004 which increased to 318 in 2009 5. Owned and managed 78 buildings in Johannesburg, surrounding areas and one in Durban

CONTACT INFORMATION Chief Executive Officer: Wayne Jeffrey Plit Chairman and Chief Operating Officer: Renney David Plit (B.Acc) CA (SA) Chief Financial Officer: Clive Kaplan CA (SA) Director (non-executive): Jurie Swart BEng (Civil), BComm, CA(SA) Director (non-executive): Sean Friend MSc Building CFA Property Portfolio Director: Solomon Ramalamula Financial Director: Kevin van den Heever (BComm) Human Resources Manager: Sumaiya Gök Urban Development Manager: Lebo Mashego (MSc Hon) Commercial Letting Manager: Mandy Botha Residential Letting Manager: Sibusiso Mabuza Physical address: 14th Floor, Lister Medical Centre, 195 Jeppe Street, Johannesburg Postal address: PO Box 10568, Johannesburg 2000 Telephone: +27 (0)11 224 2400 Fax: 086 500 8993 Email: info@afhco.co.za Website: www.afhco.co.za

I M P U M ELELO 2010

VOLUME 11

195 5/26/10 12:01:11 PM


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