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Seshego is pleased to announce a corporate transaction effective 1 July 2021 that will help secure Seshego’s market position, whilst providing additional benefit to clients and support to staff.

Seshego was established in April 2005 with the focus on providing leading consulting advice on corporate benefits. The past ten years have seen Seshego being recognised as a leader in the field of legal and technical advice on corporate benefit plans, investment consulting, risk and insurance consulting, as well as facilitating several best of breed client solutions from market leaders like Investec, Old Mutual and Just SA.

Now, with Lebashe being a Level 1 contributor (100% black owned and 34% woman owned), this transaction transforms Seshego into not only a recognised leader in the consulting field, but one with solid transformation credentials. This will have benefit to both our clients as well as the business as the Financial Sector Charter plays a more prominent role in shaping the financial services industry.

Lebashe, as an investment firm, already has other financial services interests in a number of listed and private companies. These include the Cape Town Stock Exchange, Aluwani asset managers, and Capitec Bank among others.

Warren Wheatley, the Chief Investment Officer of Lebashe, has been known to the executive of Seshego for close to 20 years, he is a former Financial Planning Institute director, and he previously worked at both Alexander Forbes and Glenrand MIB. Warren says he is excited by the Seshego transaction as it fits perfectly with Lebashe’s financial services strategy. “We have a focus on businesses with superior technology solutions, and we are pleased with our expanding financial services portfolio”.

Seshego was careful in selecting a partner that will add value to Seshego, and we have got to know the Lebashe team over the past 5 years as a client of Seshego. Lebashe has submitted itself before both the Mpati and Zondo Commissions, and Lebashe was not implicated in the various corrupt transactions that were reported on.

Our Seshego founder, Andrew Crawford, feels the transaction signals a bright future, and the necessary next step for the company as it starts to benefit from both the Lebashe and Citadel corporate networks and resources. “2020 was a difficult year for everyone, but the business again proved resilient as it had done through the 2008 global economic crisis. We are extremely grateful to our loyal clients and dedicated staff. Although the uncertainty of 2020 made the Lebashe transaction more challenging, the quality of the business became evident as the year progressed”. Andrew and Citadel remain significant minority shareholders post Lebashe taking the 51% interest. Lebashe and Citadel have resources and skills that will help build Seshego into an even greater force in the corporate employee benefit consulting arena, and their businesses are complementary to Seshego’s offering, so the Seshego culture and approach will not be lost in an amalgamation.

Citadel Holdings acquires a stake in Seshego Consulting

We are pleased to announce that Citadel Holdings has acquired a 49% stake in Seshego Benefit Consulting, effective from 1 April 2020. The businesses have been working under a cooperation agreement since 2017.

Founded in 1993, Citadel is an industry-leading wealth management firm with offices that span South Africa, as well as having a base in Guernsey, United Kingdom. The company boasts a wide range of local and offshore service offerings, including financial advice, retirement planning, fiduciary, risk planning, foreign exchange and treasury solutions, philanthropy, asset and investment management and corporate solutions. Citadel is a subsidiary of Peregrine Holdings.

Seshego, established in 2005, is renowned for corporate advice on benefits, investments and risk management. The company was adjudicated by Global Pensions UK as the best employee benefits consultant in South Africa for three consecutive years.

This transaction will see the synergies between both companies leveraged as they bring individual and corporate advice under a single roof. Citadel Director, Ian Bishop notes that Seshego was identified as the best fit in the corporate benefits advice space, and will greatly enhance Citadel’s corporate solutions offering to clients. In turn, Seshego’s corporate clients will also have access to Citadel’s expert industry insights, through their asset management division, together with all other services and solutions.

Please feel free to contact us if you have any questions. We remain committed to delivering excellent services and look forward to this new chapter.

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