Lereko was established in 2004 as a black-owned and black-managed investment company. The founding partners, the late Eric Molobi, Valli Moosa and Dr Popo Molefe had a vision of becoming effectively involved in broad-based empowerment in South African business. Shortly after its inception, Dr Lulu Gwagwa joined Lereko as a Chief Operating Officer and later Cedrick Mampuru was appointed Financial Director. Cedrick has since been promoted to the position of Chief Executive Officer.
Moosa, Molefe and Gwagwa have a wealth of experience in public and private sector companies. Together they bring keen leadership and relevant experience to Lereko. They have an entrepreneurial spirit and are set on the goal to establish Lereko as a company of the future, focusing on long-term business partnerships.
In a decade, the company built a portfolio of investments in diverse sectors such as gaming and leisure, logistics, property development, pulp and paper, waste management, renewable energy and private equity. The investments facilitate structured participation for broad- based partners that incorporate community trusts, public benefit organisations and women’s groups. Lereko is a 100% black-owned company. Black women shareholding in Lereko currently stands at 30%.
Lereko’s empowerment model is based on the participation of investment-specific, broad-based, regional and community partners. Lereko believes that this model captures the benefits of an entrepreneurial business culture while ensuring broad-based entities benefit from local and aligned empowerment initiatives in South Africa.
It is important to emphasise that the model is based on Lereko’s business and Black Economic Empowerment (BEE) philosophy and is guided by the following principles:
A broad-based approach
Regional and community representation
The ability to add value
Clear lines of leadership
Gender representation
The purpose of this Code of Ethics is to promote and enforce ethical standards and responsible business practices by Lereko, its members and within its stakeholders. Business is a cornerstone of prosperity in society because companies create the resources required for the country’s prosperity, socio-economic development and stability. In this regard, Lereko commits itself, through its Code of Ethics, to be a responsible corporate citizen and to implement, uphold and promote the following values.
We therefore commit to complying with the laws and regulations applicable; taking responsibility for uplifting our society; and upholding environmentally sound practices.
We therefore commit to speaking the truth and acting with integrity in all our actions; and avoiding actual, potential and perceived conflict of interest. No employee or representative of Lereko may give or accept a bribe or any financial or other reward from an employee of the State or for that matter any other person, in the course of doing work on behalf of Lereko.
We therefore commit to treating our stakeholders with dignity and fairness; upholding the human rights of all our stakeholders, workers, clients and communities; and taking into account the social, environmental and economic impact of our activities on the community.
We therefore commit to disclosing information to our stakeholders timely and accurately; making information of our business operations accessible; and refraining from anti-competitive behaviour. All Lereko executives and staff are obliged to adhere to this Code of Ethics and its core values. Adherence to the Code of Ethics is seen as a strategic business imperative and a source of competitive advantage for all associated with Lereko.
