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Case Study

Wiphold (A): Beyond labor and consumption

By Benoit F. Leleux, Hischam El-Agamy and Mopesola Ogunsulire

19 pages

July 2005

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Reference: IMD-1-0220

This four-part case series documents the incredible journey from 1994 to 2005 of one of the most original black economic empowerment (BEE) vehicles in post-apartheid South Africa, the Women Investment Portfolio Holding, or WIPHOLD. WIPHOLD raised its money from disenfranchised black women in the townships to invest in mainstream economic activities. From boutique investment fund, it quickly established itself as one of the key drivers of economic empowerment and one of the movers and shakers in the South African financial services community. The A-case relates how, between 1994 and 1997, the founders, four dynamic and successful black business women, took their bold vision of black economic empowerment to grassroots women in South Africa. The “WIP Four” raised money, struck their first deals, gained the women’s buy-in, chose an all-women (but mixed race) board and structured the women-only IPO. But the target was ambitious, to raise R40 million from numerous women who were just being introduced to the concept of investment, contributing as little as R600 each (for 200 shares) for their stake. Would they succeed?

Keywords

Private Equity, Economic Empowerment, Black Economic Empowerment, Post-apartheid, Social Entrepreneurship, Development Finance, Financial Services

Settings

Africa, South Africa
Women Investment Portfolio Holdings Limited, Finance and Insurance, Financial Services
1994-1997

Type

Field Research

Available Languages

English

Related material

Teaching note, Video

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This case study is part of a series

Wiphold (A): Beyond labor and consumption
Wiphold (A): Beyond labor and consumption (Abridged)
Wiphold (B): Institutionalizing
Wiphold (B): Institutionalizing (Abridged)
Wiphold (C): Managing the 2002 crisis
Wiphold (C): Managing the 2002 crisis (Abridged)
Wiphold (D): Back to private...
Wiphold (D): Back to private... (Abridged)

2005 EFMD AWARD WINNER (Managerial Issues in Transitory Economies)

This case study is part of a series

Wiphold (A): Beyond labor and consumption
Wiphold (A): Beyond labor and consumption (Abridged)
Wiphold (B): Institutionalizing
Wiphold (B): Institutionalizing (Abridged)
Wiphold (C): Managing the 2002 crisis
Wiphold (C): Managing the 2002 crisis (Abridged)
Wiphold (D): Back to private...
Wiphold (D): Back to private... (Abridged)

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