These portfolios include, hospitality, leisure and lifestyle; telecommunications and resources. MIG is headed by founder and Chairman, Advocate Richard Thabo Moloko, a Harvard trained lawyer turned businessman and a robust management team.These portfolios are carefully considered given their high potential high returns. Through its hospitality and lifestyle portfolios, MIG employs more than 200 employees. Recently MIG established an employees’ trust to reward its employees whereby employees become eligible to participate in profit share after five years of employment.
Hospitality
Since its inception, MIG has boldly grown its portfolio across a broad spectrum of industries. Currently MIG prides itself in its collection of 5 star boutique hotels situated in prime locations managed by Moloko Hotels & Resorts. These hotels include the prestigious Moloko Strathavon Hotel with its award winning spa, the acclaimed Athol Place Boutique Hotel also located in Sandton which was voted one of the world’s hippest hotel in Condé Nast Traveller’s (US) annual coveted ‘Hot List’ for 2009 and “Heavenly Hotel” by British Airways, and Moloko Constantia Manor which is set in the exquisite Constantia Kloof overlooking a historic wine farm.
In addition to its hospitality portfolio, MIG also owns Akani Hospitality, a management company that focuses on 3-4 star properties. Akani currently manages the world renown Table Mountain Lodge in Cape Town, a gracious homestead nestled on the slopes of Signal Hill with breathtaking views of Table Mountain. Included in its collection is 1 on Queens Boutique guesthouse located in situated on the slopes of Signal Hill in the natural amphitheatre of City Bowl in Cape Town. Akani recently added Kgaswane Country Lodge to its growing collection which is located on the northern slopes and summit of the western Magaliesberg Mountains in the North West Province and adjacent to the Kgaswane Mountain Reserve. In Johannesburg Akani manages the Akani Suites, which is a mixture of luxurious furnished penthouses and apartments located in the leafy suburb of Greenside, a mere 10 minutes drive form Sandton .
Leisure and Lifestyle Restaurants
MIG’s investment in its lifestyle portfolio has yielded positive results in a short breath of time. Through its fine dining restaurants portfolio, MIG fine dining restaurants have become of such an exemplary standard and have earned a worldwide reputation for being some of the most inventive and delightful. MIG owns the award winning Signature restaurant located in Morningside and the Wall Street Restaurant which has housed various international personalities. Not all MIG owned restaurants are about booking tables at celebrity chef restaurants. Included in this portfolio of restaurants are the hip and trendy Café Sofia eateries which have a different type of personality from those of their peers which reflects the style of food they champion. These restaurants are swiftly becoming a household name with 7 restaurants operating in Cape Town and Johannesburg. Café Sofia will be opening two new restaurants, in Rosebank at the Zone which is aptly located next to the Gautrain Station and in the chic Cavendish mall in Cape Town.
Fashion
MIG lifestyle portfolio includes fashion which seeks to target the middle to high class market. With its two stores situated in Sandton, these MIG brands have added a touch of flair to the world of fashion in Sandton. 312 Couture which is owned by MIG is located in the new Legacy Corner mall. 312 Couture is in a class of it own and offers unique fashion lines which are carefully picked and imported from the world over. Since its launch, various celebrities have graced the doors of this store. Another feather to its cap in the lifestyle portfolio is the Molokofashion store, also located at the Legacy Corner mall, which specialises in bespoke clothing made from premium fabric designed by some of the finest designers in the country. MIG seeks to expand its fashion footprint and open other similar stores in niche markets on the continent.
Telecommunication
MIG’s investment strategy in the telecommunication sector revolves around using progressive technology employed globally to assert itself as a leader in this field. Currently MIG controls Mobile TV, which was awarded the license to test broadcasting using mobile television technology. Currently Mobile TV deploys Korea’s digital multimedia broadcasting, which has been successfully deployed in countries such as Norway, France, Italy, Poland, Malaysia, Ghana, Egypt and China. The test network is providing a number of television and radio broadcasts from the SABC, including SABC 1, 2 and 3 and radio stations 5fm and Metro FM. The SABCs 18 radio stations reach more than 16m adults and its three television stations pull in more than 19m viewers a day. It is the ideal launchpad for Mobile TV. Soon one of them will also become the first audio station in Africa to test DMBs visual radio interactivity, which allows for music downloads and Internet services. Future plans include venturing into radio, print media and broad band networking.
Resources
MIG is involved in various mining projects through its investment in Y-IN, MIG owns shares in Exxaro, a diversified South Africanbased resources group. Currently MIG is exploring mining projects in Zimbabwe which include mining of diamond, gold and possibility of acquiring a gold refinery concern.
The Moloko Foundation
MIG takes cognisance of the fact that South Africa just like any other developing nations has numerous challenges. Our societies continue to be strewn with vestiges of the past which continuously continue to disempower various sections of our populace. Whereas the government has a duty to assist its citizens overcome the various challenges, it cannot achieve this on its own without the assistance of various sections of the community especially the business sector. It is against this backdrop and in support of sustainable community development, MIG has established The Moloko Foundation which focuses on;
• Sports
• Education and
• Empowering young professionals from previously disadvantaged communities in various activities.
Currently MIG through The Moloko Foundation supports three projects aimed at contributing towards community development. These projects include sponsoring Moretele United Football club, a soccer team based in Pretoria that draws young players from previously disadvantaged communities. The team is currently campaigning in the Vodacom League. Some of the Foundation’s future projects in the townships include the development of a sports academy. In addition, The Moloko Foundation is the main sponsor for the Educhange Research Foundation (ERF) which is a non profit organisation that was established to respond to the general crisis that has emerged in our public schooling system, and the academic difficulties that learners cope with. Currently the Foundation is in negotiations with various stakeholders to construct a school library and a sports field at Prudens Secondary School in Soweto. In the past the Foundation has also sponsored various AWCA (African Women Chartered Accountants) events. AWCA is an NGO that espouses the vision of accelerating the advancement of qualified and aspiring African women Chartered Accountants, recognizing the difficulties and obstacles which confront them in their profession.