SHAREHOLDING OF OCTAGONAL HOLDINGS (PTY) LIMITED AND SUBSIDIARIES
Octagonal Credit (Pty) Limited and Octagonal Rentals (Pty) Limited operate as wholly owned subsidiaries of Octagonal Holdings (Pty) Limited. In addition Octagonal Rentals has taken a 50% equity stake in SGR Finance (Pty) Limited.
Executive Management Team
Peter George Edmonds – Chief Executive Officer
Peter commenced his banking career with Barclays/First National Bank back in early 1970 and resigned in 1990 to start Commercial Union Trade Finance (Pty) Limited in partnership with Commercial Union Assurance Company Limited, where he was both a shareholder and director. The business became one of the largest factoring & invoice discounting houses in South Africa and was sold to ABSA Bank in 1995, with Mr Edmonds being retained by ABSA until 1998 when he resigned to commence employment with Brait Merchant Bank Limited. In 2001 he was seconded to head up the consumer finance operation at African Alliance Limited, a Brait private equity investment. During the next three years Peter, under the chairmanship of Patrick Abrahams successfully rolled out operations in Swaziland and Uganda.
In 2004 Peter resigned to join Pat Abrahams at Letshego to roll out their African expansion strategy in Swaziland, Uganda, Tanzania and Zambia. Peter resigned in 2007. In 2008 he was approached together with Mr Abrahams to inject additional management skills into Microfin Africa Zambia Limited, a subsidiary of African Banking Corporation Zambia Limited. Both Peter and Pat tendered their resignations in April 2011.
In summary, Peter Edmonds has extensive consumer finance experience in a senior management capacity, across a number of African countries.
Howard Sidney Callaghan – Chairman and Chief Operations Officer
Howard commenced his career with the then Barclays Bank in 1961. He was seconded to the USA in 1975 where he served the bank in New York, Chicago and St Thomas in the US Virgin Islands. On his return to Cape Town, South Africa he was instrumental in turning a historically loss making branch to profit, before being transferred to Johannesburg as Administration Manager of one of the largest branches of First National Bank in South Africa.
He resigned from the bank to pursue private enterprise in 1984, until executing a management buy-out of his company in 1994.
As a personal challenge, he then started, administered and built a successful company providing service to large corporates, simultaneously consulting and supporting small private businesses requiring administrative expertise and guidance in their business administration and routine.
Howard Callaghan’s extensive administrative strengths and experience were turned to the benefit of the newly conceived Octagonal Group at inception and he now holds office as Chief Operations Officer for the Group.
Patrick Simon Abrahams
Pat Abrahams is a Chartered Secretary with fifty years experience in financial markets. By training he is a merchant banker who has worked in the following areas of discipline – discount houses, merchant banking, stock-broking, private equity and consumer finance.
A summary of his past ten years business experiences and interests is appended below.
In 2001 he retired from Brait Merchant Bank where he was an executive director. Brait is a company quoted on the London, Luxembourg and South African stock exchanges and was arguably the largest private equity operation in South Africa. It is perhaps worthy of mention that the chairman was Mervyn King the architect of the King Code of Corporate Governance.
In 1998, he was associated with the establishment of Micro Provident Botswana Limited which was the first consumer lending business in Botswana trading under the name of Letshego. The company is currently listed as Letshego Holdings Limited on the Botswana Stock Exchange and has a market capitalisation in excess of BWP3 billion. Mr Abrahams retired as a director of Letshego in 2007 after successfully assisting in the expansion of the company’s operations into Swaziland, Uganda and Tanzania. He therefore has extensive experience of establishing and operating consumer credit businesses in Africa.
Late in 2007 he was approached by the chief executive of ABC Holdings Limited (now BancABC) to turn around the bank’s Zambian consumer lending company which for eight years had performed exceptionally badly. Together with his partner, Peter Edmonds, he was responsible for transforming Microfin Africa Zambia Limited into one of the most profitable areas of the BancABC Group. Mr Abrahams has left the services of the ABC Group.
Seymour Claude Harley
Seymour Harley is an attorney by profession and was the managing partner of Harley and Morris, a very successful law practice with offices in Bloemfontein and Maseru, Lesotho. Mr Harley acted as the attorney of choice to the Lesotho Government for many years before retiring to Howick in Natal were he breeds polo ponies.
aim of the company is to establish itself as a self funding operation catering for the rental finance needs of companies and corporations.
The directors of the Octagonal Group are HS Callaghan (Chairman); PG Edmonds (Chief Executive) and SC Harley.