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INCA is proud to have the following primary brands as its shareholders:
Dexia Credit Local 4,42% FirstRand Bank Limited 17,68% INCA Share Incentive Trust 4,95% Kagiso Financial Services Limited 43,96% Momentum Group Limited (Managed by FutureGrowth) 26,98% INCA Bond Rehabilitation Company 0,01% INCA & Kagiso join forcesIn March 2004, INCA joined forces with Kagiso Financial Services Limited who bought 43,96% of the shares in INCA. The 51% INCA shareholding voted by black controlled companies effectively makes INCA a black controlled company.INCA, whose balance sheet has grown to just over R7 billion in seven years is a major funder to the municipal infrastructure market. The Company has recently enlarged its direct BEE shareholding to 46%, while consolidating the 45% shareholding of the FirstRand Group. The consolidation of INCA’s shareholding in Kagiso Financial Services, FirstRand Bank Limited, Momentum Group Limited (managed by Futuregrowth) and Dexia Credit Local from France, provides a strong foundation for the second growth phase in INCA and adds substantially to the skills base from which INCA can draw. Message from ShareholdersChanson Investment Holdings (Pty) LtdDexia Credit Local (Dexia) Dexia is one of the major French banking groups with substantial knowledge and exposure in the international sub-sovereign debt market. Dexia has been carefully monitoring the reconstruction of post-apartheid South Africa and the concept of an African Renaissance. Dexia has welcomed the opportunity to participate in this unprecedented change in South Africa through a shareholding in INCA. This not only allowed INCA to gear the equity investments but will also increase Dexia's practical knowledge of Africa and allow Dexia to become more involved in sub-Saharan Africa on bankable projects. Dexia can contribute substantially to INCA, South Africa and eventually to the whole of Sub-Saharan Africa and thus help to promote an African Renaissance through skills, knowledge and selectively with funding. Dexia is proud to be a shareholder in INCA and to monitor the socio-economic impact of INCA while receiving a return on its investment. FirstRand Bank Limited (Registration number: 1905/01225/06) FirstRand is proud to be associated with INCA which is addressing one of the central themes of the African Renaissance - contributing to sustainable development that improves the quality of life of the people of South Africa. INCA, through its funding of developmental infrastructure projects, provision of long-term funding to local authorities and its promotion of public-private sector partnerships is making an invaluable contribution to the realisation of this vision. Momentum Group Limited (Managed by FutureGrowth) Infrastructure provisioning within South Africa's municipal areas will play an important role in facilitating development in the country. INCA is among a number of agencies whose activities are indispensable to the reconstruction of our society. INCA's strategy of mobilising capital for development both complements and enhances Futuregrowth's own focus on applying the nation's savings to the challenge of development. Together with this complementarity, the special skills INCA brings to this investment niche, gives me confidence that our partnership will continue to deliver significant gains for development. This augurs well for the rebirth of the country and the continent. INCA Share Incentive TrustKagiso Financial Services Limited |
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