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GRAND PARADE INVESTMENTS LTD (GRANDPRADE)
Investments in Cape Town

www.grandparade.co.za
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Remember you found this company at Infoisinfo 021421777?

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33 Heerengracht. Foreshore. Cape Town. Western Cape. 8001
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What you should know about GRAND PARADE INVESTMENTS LTD (GRANDPRADE)

Grand Parade Investments is a Western Cape-based black owned and controlled holding company listed on the JSE Limited with investments and operations in the South African gaming and leisure industry. GPI’s corporate business philosophy is to invest in transformation unlocking not only wealth for shareholders, but also embracing a philosophy that advocates an integrated approach to good governance. GPI sets its sights on recruiting multi-talented individuals capable of working in a fast changing and challenging environment. It is 1996 and six people are meeting on the 23rd floor of a central Cape Town office block to discuss the establishment of an empowerment Group representing the diversity of marginalised communities in the Western Cape, which will invest in the tourism, leisure and gaming industry. They are reminded that the Grand Parade is the soul of the Mother City, the place where all the communities of Cape Town have always met to trade, debate, protest, celebrate, parade and entertain. For centuries kings and peddlars, princes and evangelists, presidents and prime ministers have come here to meet the people. The Grand Parade is symbolic of the heritage of Cape Town, South Africa's most cosmopolitan city, its culture shaped by the rich tapestry of its people and their history. In a second, the name of the new Company is decided upon, because GPI is not to be a vehicle for window-dressing or elitism. The ownership will be initiated by the people of the Mother City and its surrounding rural areas. This moment was the start of what has been the most remarkable broad-based black economic empowerment (BBBEE) journey that South Africa has yet witnessed. In the little more than 10 years hence, GPI has grown from that humble beginning into a powerhouse in the South African tourism, leisure and gaming industry, with assets worth billions of Rands, a landmark listing on the JSE Limited (JSE), and the rest of Africa in its sights. These are the two things that have set GPI apart from all other BBBEE initiatives: its truly broad-based shareholding, and the fact that it existed more than just on paper when it was launched. These shareholders were painstakingly recruited, one by one, and at small community meetings by the original seven consortia that made up GPI. Each one was persuaded that this was a risk worth taking; that one day they would reap handsome benefits for daring to dream way beyond their garden gates. Within a few years they were already receiving dividends. SunWest built the GrandWest Casino & Entertainment World (Grandwest) in Goodwood, which has since established itself as a top-performing casino complex in South Africa. It is appropriate to GPI's heritage that GrandWest was constructed in what was one of Cape Town's more economically depressed areas, instead of one of the city's more fashionable business districts. SunWest also wholly-owns the luxury Table Bay Hotel in the Victoria & Alfred Waterfront, which opened in 1997, and is a shareholder in the very successful Cape Town International Convention Centre (CTICC), which was conceived as part of the original SunWest casino licence bid and firmly links the Victoria & Alfred Waterfront with Cape Town's rejuvenated Foreshore area. GPI's footprint now extends far beyond SunWest, in which it now holds an interest many times the size of its initial stake. Within the gaming sector it now owns equity in Golden Valley and the Sibaya Casino and Entertainment Kingdom North of Durban. After listing, thousands of the initial shareholders progressed to a new corporate listed environment with an opportunity to participate in the continued growth and development of GPI. The GPI SPV Trust and the GPI BBBEE Trust established to enhance and sustain the company’s empowerment status and raise capital to repay debt. The public response to the preferential offer was overwhelming and saw previously economically marginalised communities across the Western Cape taking up shares in GPI. SunWest emerged as the triumphant bidding vehicle and was awarded the exclusive license for the GrandWest casino in Goodwood, Cape Town.
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