Joint Ventures

The Soweto Foundation in partnership with Omar Sharif in a bid for a Casino Licence :

The Soweto Foundation has entered into a joint venture with Omar Sharif Southern Africa and will be bidding for a Casino Licence at a site called "Fun Valley" about 10 km south of Soweto, next to Eldorado Park & Lenasia.

According to this joint venture agreement, the Soweto Foundation will be a 47% shareholder in this Licence Holding Company.

The Soweto Foundation has been very careful in selecting a partner for this Casino bid and decided on Omar Sharif SA, because of their proposed structure of such a venture which is also in line with the Foundation's views on community participation and empowerment.

The Soweto Centre Project will also form a part of this licence bid and we feel optimistic that this apllication cannot be easily ignored. Jointly, these two projects will have a combined value of over R 2 Billion.

Should this bid be successful, the Foundation will use it's proceeds from the Casino to further supplement the construction and running costs of the Soweto Centre and could even invest any surplus funds into similar projects around the Greater Soweto area.

In this bid it was also decided to include certain community organisations as beneficiaries. These orgaisations will be receiving a share of the profits from the operastion of this Casino, to invest into their own community programmes.

To learn more about these Community Organisations, please refer to the section under Partners.

To have a look at some of the press clippings regarding the announcement of this Joint venture, please look at the section Exposure.

The Soweto Foundation concludes a joint venture agreement with Grinaker Project & Properties:

The Soweto Foundation is currently considering a proposed joint venture agreement wit Grinaker Project & Properties.

The contents of this joint venture agreement states that Grinaker will become the developers of all the commercial facilities at the Soweto Centre and will, amongst other things, be responsible for securing finance for the constrcution of all these elements.

The Soweto Foundation is very excited about this joint venture, as Grinaker is a leading force in the South African construction industry and we feel confident that their involvement will ensure the success of the Soweto Centre.

For further information about Grinaker, please refer to