Mvelaphanda was founded by Mr Tokyo Sexwale in 1998 and is now one of South Africa’s leading Black Economic Empowerment (BEE) groups. The group has interests across a diverse range of sectors from natural resources and energy through banking, financial services, tourism, healthcare, logistics, industrial services and security.

Mvelaphanda has a track record of successful high-profile transactions in South Africa, including partnerships with ABSA Bank, Anglo American, Anglo Platinum, De Beers, Gold Fields and Remgro.

Mvelaphanda has a diverse shareholder base including some South Africans who have never held shares before and also a participation plan with smaller black-owned enterprises, which enables it to contribute to a constituency previously excluded from the business sector in South Africa.  It pursues an inclusive philosophy towards empowerment and believes that community participation and the participation of other BEE groups is critical to its future success.

Total group assets exceed R10 billion (~ US$1.6 billion), including substantial holdings in two listed companies, Mvelaphanda Resources Limited (Mvelaphanda Resources) (www.mvelares.co.za) and Mvelaphanda Group Limited (Mvelaphanda Group).

Mvelaphanda Resources has significant investments in South African assets in the gold, platinum and diamond sectors as well as exploration and development joint ventures in sub-Saharan Africa. It was the top performing company listed on the Johannesburg Stock Exchange (JSE) for three consecutive years from 2001 and last year acquired 15% of Gold Fields Limited's South African operations. It also owns 22% of Northam Platinum Limited and has a 6% stake in Trans-Hex, the diamond company.

Mvelaphanda Group is one of the largest diversified industrial groups listed on the JSE. It has interests in facilities management, mining services, food services, support services and in 2004, together with its partners, raised US$750 million to purchase Afrox Healthcare Limited, Africa's largest hospital group.

Ophir enjoys the benefits of a strategic relationship with Mvelaphanda, under which Mvelaphanda has agreed to promote the interests of the Company and not to be engaged in any activity which would be detrimental to the interests of any member of the Ophir group of companies (however, Mvelaphanda may cooperate with third parties whose business activities include oil and gas exploration or production).  Mvelaphanda has also agreed to conduct all transactions with Ophir’s group on arm’s length terms and on a normal commercial basis and not to take any action which precludes any member of Ophir’s group from acting independently of it.