“Calulo”, a xhosa word meaning “to discern” or “separate the chaff ”, is the foundation of the business methodology. Mkhuseli’s beliefs have always been based on integrity, meritocracy, and non-discrimination, and these have been the guiding principles in the culture and business dealings of Calulo. The “Calulo Way” has been the thread that runs through the group and has been applied to all business relationships and internal practices.
“With absolute integrity and driven to excel within an equitable meritocracy, changing the lives of those less fortunate along our path.” The Calulo Way
Having started its life as a fuel wholesaler, Calulo Investments subsequently went into a joint venture with Total SA in 2000, called Total Renaissance. From this, Calulo were inspired to progress from being a petroleum wholesaler, to leading a Broad-Based Black Economic Empowerment consortium, TOSACO, through the acquisition of a 25% stake in Total in 2003. The acquisition, which was structured in terms of the Liquid Fuels Charter (LFC), saw TOSACO’s acquisition debt being fully expunged in 2011, resulting in Total South Africa being the first South African oil major to comply with the LFC’s unencumbered ownership target of 25%, ahead of the 10-year LFC deadline. Calulo’s stake in Total South Africa through TOSACO and its leadership within the consortium is an excellent example of the strides being made in ownership transformation in the local petroleum industry.
Calulo Investments furthermore contributed to its position as a leading BBBEE partner in the Oil and Gas Industry through active involvement and investment in the operational aspects within the sector. The group aims to create a symbiotic relationship between operations and investees by contributing tangible experience and expertise in chosen facets within the oil sector, from logistics through to technologies.
Current investments include significant stakes in FFS Refiners, TOTAL South Africa, Gilbarco AFS, Grindrod SA (incorporating Fuelogic), Oiltanking GC, Skytanking Calulo, KES and majority ownership in a Services Group, comprising companies which offer the following products and services: shipping, ships agency, bunker supply, marine products, cargo brokerage, clearing and forwarding, chemical shipping, petroleum product trading and aviation petroleum related services.
As a result, Mkhuseli’s dream of empowerment in the oil industry is being realised through Calulo’s diversified share holding across the energy value chain. The biggest change in Calulo’s profile however, has been its evolution from a BEE investment holding company to one that seeks to own and operate selected businesses, as evidenced by its recent acquisition of a controlling stake in FFS Refiners. This acquisition gives Calulo access to the midstream niche refining market, a first for empowerment in the South African oil industry.
As the group intensifies its quest to become one of the leading investment companies in South Africa, it looks to expand and diversify into different arenas of energy, such as renewable energy, under the Calulo Renewable Energy and Technology banner. South Africa’s energy demands have made the renewable energy sector an exciting growth area, and Calulo is gearing up to be a significant player in this sector. It has been highly active, having aligned itself with projects that are directly and indirectly related to this sector, such as the solar panel initiative business under the banner of KES, and the Prieska & De Aar Solar Projects.
Close to the heart of Calulo is their commitment and focus on empowering and transforming lives in various communities. This is driven by the Calulo Foundation, a vehicle through which Calulo and its investee companies channel their Corporate Responsibility initiatives in the most effective and responsible way.
As it finds itself in an interesting time in the industry, Calulo Investments is well-positioned and well-poised to realise its commitment to being a market leader that advocates for transformation and will see the previously disadvantaged move into the mainstream economy. Calulo Investments strives to be an exemplary integrated participant in the regional oil industry focusing on the energy and environmental challenges facing South Africa.
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