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Lihle Z Mtshali
Instead of hosting a lavish party to commemorate its listing on the JSE today, Tiger Automotive will be giving two underpriveledged South Africans a free year of tuition at CIDA city campus in Johannesburg.
When Companies list on the JSE they traditionally host an event prestigious enough to match their success.
This celebratory function is hosted jointly by the JSE and the company listing on the exchange and could cost up to R20000 to organise with the JSE contributing R10000 and the company taking care of the balance.
One company has, however, decided to break from this long-standing tradition.
Instead of organising a sophisticated gathering, Tiger Automotive, previously part of the Tiger Wheels group, decided to donate R20000 to CIDA City Campus to sponsor two underpriveledged students for the 2007 year.
CIDA City Campus, South Africa's virtually free business university, is aimed at uplifting students from disadvantaged backgrounds who can't afford tertiary education.
"The JSE contributes to the function aspect of every new listing, and we would have liked Tiger Automotives to blow the kudu horn on this important occasion. However, we fully support the noble suggestion by Tiger Automotive managing director Keith Rivers to financially assist CIDA instead," says Noah Greenhill, senior general manager, marketing and business development, at the JSE.
Dr. Taddy Blecher, founder and chief executive of CIDA, said he welcomed the support of Tiger Automotive.
"It is an example that we would like to see followed by other companies," he said.
"CIDA City Campus is a groundbreaking solution to an Africa-wide problem of tertiary business education of the disadvantaged," says Eddie Keizan, founder of Tiger Wheels and non-executive chairman of Tiger Automotive, citing the reason behind the company's decision.