Durban Nkobi Holdings, the empowerment group tendering for government contracts, would list its investment company plus subsidiaries before the close of its financial year to February 28, Schabir Shaik, the chief executive, and Phambile Ngama (sic - Gama), the group managing director, said last week.

Speaking after the signing of a joint venture with Venson, a British asset and fleet management specialist, Shaik said negotiations with Nkobi's bankers were under way. The holding company would remain unlisted. [of course, no one wants public scrutiny, just their money.]

Through its nine operating companies, Nkobi Holdings was involved in projects worth R2,6 billion [contract price of the corvette combat suite was R2,599 billion; the IONT's Affordability Study indicated a cost of R2,6 billion] during the next five years [the duration of the corvette combat suite project] with a projected turnover of more than R760 million [the difference in the escalated cost ceiling of R1,900 billion and the contract price was just R699 million - cool hey!]

[Great business - if one can get it].

Shaik said the Venson venture would bring foreign technology and expertise into South Africa for fleet management in the public and private sectors.

Shaik said Venson had already committed R15 million to this venture. The new company was tendering for contracts worth up to R900 million.

Through KobiTech, which manufactures smart cards in a R70 million plant opened in Pretoria in January, the company was recently awarded a R300 million contract for driving licence cards. It would also produce these for neighbouring states, he said.

Shaik said Procon Africa, Nkobi's third subsidiary, a multi-disciplinary engineering firm specialising in the design of infrastructure such as airports, projected turnover of R120 million for the forthcoming financial year.

With acknowledgement to Shirley Jones and Business Report.