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From the Cape Flats to the JSE The History of Brimstone Investment Corporation
Thesis (MA)--Stellenbosch University, 2025.
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| Other Authors: | |
| Format: | Thesis |
| Language: | English |
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Stellenbosch : Stellenbosch University
2026
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| _version_ | 1867614090710482944 |
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| access_status_str | Open Access |
| author | Ndzamela, Phakamisa |
| author2 | Ehlers, Anton |
| author_browse | Ehlers, Anton Ndzamela, Phakamisa |
| author_facet | Ehlers, Anton Ndzamela, Phakamisa |
| author_sort | Ndzamela, Phakamisa |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Thesis (MA)--Stellenbosch University, 2025. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/135471 |
| institution | Stellenbosch University (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:46:30.498Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2026 |
| publishDateRange | 2026 |
| publishDateSort | 2026 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/135471 From the Cape Flats to the JSE The History of Brimstone Investment Corporation Ndzamela, Phakamisa Ehlers, Anton Stellenbosch University. Faculty of Arts and Social Sciences. Dept. of History. Thesis (MA)--Stellenbosch University, 2025. Ndzamela, P. 2025. From the Cape Flats to the JSE The History of Brimstone Investment Corporation. Unpublished masters thesis. Stellenbosch: Stellenbosch University [online]. Available: https://scholar.sun.ac.za/items/d8dc2673-7650-43c7-986a-bbe2802cf330 This thesis is a study of Brimstone Investment Corporation Limited, a company established at the dawn of democracy in South Africa. The text narrates how Brimstone was founded, its capital-raising methods, the power of its networks and the key players that influenced its strategic direction. Contained in the thesis are stories of how the founders started the company and subsequently became minority shareholders in their own business idea, due to their limited capital, but retained control of the business through deft share ownership structures. The shareholders of Brimstone included working, middle class South Africans and their more notable compatriots, such as Nelson Mandela, Jakes Gerwel, the Ellerine Group’s Eric Ellerine, the Brozin family of Nando’s, as well as large institutional investors. The Brimstone story gives the reader a glimpse into the structural and macro-economic factors that opened up investment opportunities for Brimstone. It is an account of the values that underpinned the investment thesis of the company and its deal making and corporate financing capability. The investments that built wealth and destroyed value in Brimstone are laid bare for the judgment of the reader. It is an account of how Brimstone managed a series of global economic crises and how these geopolitical structural issues influenced its strategic direction. This study challenges the narrative that Broad-Based Black Economic Empowerment (B-BBEE) benefited only a few individuals in companies. It demonstrates through case studies how some entrepreneurs who were already in business before the advent of B-BBEE took advantage of South Africa’s democratic moment and advanced from corner shopkeepers to being role-players in the mainstream economy trading shares on the Johannesburg Stock Exchange (JSE). This is a story about wealth creation, black-on-black empowerment, enterprise development, socio-economic upliftment, skills development and corporate governance. Masters 2026-03-23T06:41:56Z 2026-03-23T06:41:56Z 2025-12 Thesis https://scholar.sun.ac.za/handle/10019.1/135471 en Stellenbosch University 263 pages application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Ndzamela, Phakamisa From the Cape Flats to the JSE The History of Brimstone Investment Corporation |
| title | From the Cape Flats to the JSE The History of Brimstone Investment Corporation |
| title_full | From the Cape Flats to the JSE The History of Brimstone Investment Corporation |
| title_fullStr | From the Cape Flats to the JSE The History of Brimstone Investment Corporation |
| title_full_unstemmed | From the Cape Flats to the JSE The History of Brimstone Investment Corporation |
| title_short | From the Cape Flats to the JSE The History of Brimstone Investment Corporation |
| title_sort | from the cape flats to the jse the history of brimstone investment corporation |
| url | https://scholar.sun.ac.za/handle/10019.1/135471 |
| work_keys_str_mv | AT ndzamelaphakamisa fromthecapeflatstothejsethehistoryofbrimstoneinvestmentcorporation |