Loading...

PSG's Mouton kicks off SA upliftment dream with R1bn donation

Sep 07 2017 06:01
Carin Smith

Jannie Mouton (Supplied)

Company Data

PSG GROUP LIMITED [JSE:PSG]

Last traded 225
Change 8
% Change 4
Cumulative volume 453322
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Jannie Mouton: So far, so brilliant. Now it’s up to PSG’s 'Youth League'

Jannie Mouton: 20 lessons from building PSG

Jan Mouton, superstar fund manager – apple didn’t fall far from PSG founder’s tree

PSG on the prowl for opportunities

PSG: Building businesses from the bottom up

PSG results pleasing despite uncertain market - CEO

 

Cape Town - A recent personal donation of R1bn is just the beginning of an even bigger dream PSG founder Jannie Mouton has for his philanthropically orientated Jannie Mouton Foundation.

PSG is an investment holding company with investments in, among others, Capitec, Curro Holdings and Zeder.

"I have a huge dream to increase the foundation by donating more and more of my PSG shares to it. I have donated R1bn now, but in years to come I want to increase that amount substantially," Mouton told Fin24.

It is estimated that Mouton's PSG shares are worth about R12bn.

"One day I listened to an inspirational talk by US billionaire Warren Buffet. I admire him. He talked about his donation to the Bill and Melinda Gates Foundation. I thought about my future and decided to have a similar foundation. Although the Jannie Mouton Foundation has been in operation for the past five to ten years already, I now plan to build it out much more over time," Mouton said.

Asked why he did not - like Buffet - just donate money to the Gates Foundation, Mouton said he would rather focus on needs in South Africa.

"I want to create something in South Africa. I see a need in South Africa," said Mouton. "My family and I think education is very important and that could be the basis of the foundation. There are a lot of disadvantaged people and education can play a big role in years to come," he explained.

Akkerdoppies

The foundation's existing Akkerdoppies pre-school is an example of Mouton's passion for upliftment through education. It is situated in Stellenbosch and has already influenced the lives of about 500 children since its inception. The pre-school is for children between the ages of 2 to 6 years whose parents are both working.

"I believe in starting in the place you know and for me that is the Western Cape. My children are based here as well, so maybe that will be the starting point for the expansion of the foundation's activities," said Mouton.

"I have already spoken to someone to join us on a full-time basis to run the foundation and as I go along I will think of more (projects). I will grow the foundation and make a positive contribution."

Asked about putting his philanthropy within the wider political context of South Africa - especially in relation to allegations of white monopoly capital - Mouton emphasised that he does not want to get involved in politics.

He looks at matters from the point of view of already making a huge contribution as a taxpayer in a country where 17 million people benefit from social grants.

"I always say that a successful company is not a drag on civil society. PSG Group as a whole has, for instance, already contributed R20bn to BEE transactions. That is an unbelievable contribution," said Mouton.

"My contribution to the Jannie Mouton Foundation is, however, outside of that sphere. The foundation is my personal bit I am doing and my wife and three kids are 100% behind me on my plan to make a contribution already while I am living."

Mouton explained that he will not be "driving" the foundation per se. He will rather be focusing on how to make the pot of the foundation bigger. 

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

psg group  |  investment holdings  |  philanthropy
NEXT ON FIN24X

 
 
 
 

Company Snapshot

#SAVINGSMONTH

Five of SA's top financial brains, including SARB governor Lesetja Kganyago share their best savings habits.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Are you prepared for the latest round of Eskom’s load shedding??

Previous results · Suggest a vote

Loading...