The Group was founded by Jay Naidoo and Jayendra Naidoo in February 2000. The company initially started several green-field joint ventures, which have evolved into mid-size profitable companies, through a combination organic growth, mergers and acquisitions. The broad-based shareholding of the J&J Group extends to well over 200 000 individuals and their families. It includes participation of the J&J Group’s senior executives and staff, broad-based shareholders, including trade unions, grassroots community groups and a coalition on NGO’s. There are also employee participation arrangements and employee profit shares at operating companies.

The Company is a BBBEE company under the dti’s Code of Good Practice on Broad-Based Black Economic Empowerment.

Directly, and through associated companies, the J&J Group has also made contributions to many social projects, through the J&J Group Development Trust.

Mission and values

It is the intention of the Group to contribute positively to:

• Economic growth and development
• Broader participation in the economy
• Creation of high quality and sustainable jobs
• Social development
• Creation of value for its shareholders and partners
• An ethical business and social environment

The Group is guided in its commercial and social pursuits by a value system encompassing the following principles:

• Building new capacity through organic growth
• Nurturing value-creating and long-term partnerships
• Balancing sustainable profitability with social responsibility

Business Approach

The J&J Group has evolved into a holding company, with strategic investments and joint ventures in a range of operating companies. J&J has a strong group executive team, as well as executives seconded into operating companies.

J&J has followed a multi-faceted growth model, which has included start-ups, joint ventures, partnerships, mergers and acquisitions. The relationships with strategic partners is a key element in guiding our growth.

The J&J Group has chosen to enter into value creating, long term partnerships with quality companies that have similar principles and values, and complementary skills and resources.

J&J recognizes that the current environment, with BEE policies at the core, promotes the entry of Black people into business. However, in the longer term, what differentiates companies as effective and successful competitors will be business capacities and skills. The J&J Group is a long term investor, therefore is also focussed on long term value generating strategies. Those who have managed to build up new capacities and skills will be better placed to play a major role in the longer term.

J&J’s Approach to Partnerships

The J&J Group has been able to build good, mutually beneficial relationships with several global companies. These are anchored by Old Mutual, the LSE-listed financial institution, which is a significant shareholder in J&J. Old Mutual acquired 25% of the J&J Group in 2001.

Rand Merchant Bank has invested since 2007 in the J&J Group through convertible preference shares and is also represented on the board.

Other significant partnerships include the Tata Group, Macquarie Bank, Murray & Roberts, Dr Reddy’s Laboratories (India), and Verizon Business.

Shareholding

* Rand Merchant Bank hold convertible preference shares in the J&J Group