OVERVIEW OF TEBA

· Teba is 105 years old this year. It was originally set up to recruit "native labour" for gold mines in the Transvaal and Free State. In the mid-eighties, it recruited 500 000 mineworkers through 300 rural offices in Botswana, Lesotho, Malawi, Mozambique, South African homelands, and Swaziland.

· In November 1996, as a result of a Commission established jointly by The National Union of Mine workers and The Chamber of Mines, Teba was unbundled from the Chamber of Mines, and became a public, non-listed company owned by gold, coal, diamond, and platinum producers.

· Following his retirement in 2000 as President of the NUM, James Motlatsi was asked by the shareholders to ''transform Teba from a club to a self-sufficient company" whilst ensuring the ongoing service to mines, mineworkers, and their rural communities.

· In order to further transform Teba, and in keeping with national and mining industry imperatives, in December 2005 Teba was sold to a BEE-consortium. Inkanyezi Yukosa Investment Holdings (Pty) Ltd, a company owned and controlled by Previously Disadvantaged Individuals, bought 75% of Teba and donated the remaining 25% to all Teba employees equally.

· Teba currently operates out of 80 offices in all major labour-sending area, has a staff of 500, and an sales budget of R190m per annum. Roughly 260000 mineworkers passed through the Teba processes last year. Detailed electronic records are kept for every mineworker dating back to 1980.

· Teba has also incorporated a Section 21 company called Teba Development that will spend roughly R35m on rural development this year.

· With the reduction in mine labour over recent years, Teba has focussed increasingly on support services to rural families. In addition to the agency business it provides for Teba Bank (a separate legal entity with a banking licence), and the Rand Mutual Assurance Company (RMA), Teba also provides administrative support to many provident and pension funds on a commercial basis.

· Acting as an agent for the Employers, Teba Bank, RMA, and other Pension and Provident funds, Teba paid out roughly R2bn through its rural infrastructure last year, much of which was in the form of pension and disability payments. Teba is able to do this because of its accurate records, ability to trace and identify rural beneficiaries, and administrative capability in collating documentation leading to the payment of monies.

· In summary, Teba represents the mining industry wherever it operates, but perceptions of these operations are largely unclear and out of date. Given its transfonnation and re-Iaunch as a black-owned mining services company, Teba can play the leading role in following-up on all outstanding mining industry claims, estimated to be +-12 000 cases, worth more than R1bn, for the MPF alone. Given its capability, this backlog could probably be concluded within one year.