Exam (elaborations)
MNE2601 Assignment 3
- Institution
- University Of South Africa
MNE2601 Assignment 3
[Show more]
Content preview
MNE2601Assignment 3
(ANSWERS)
Semester 2 2023
ADMIN
[COMPANY NAME]
, The Kunene brothers As the first son and the first grandchild in a Zulu family,
it was tradition that Keith Kunene be brought up by his grandparents who lived
in Boksburg, east of Johannesburg. From an early age, Keith displayed one of
the typical characteristics of a true entrepreneur – a healthy interest in money.
When he was only 12 years old, he walked with his grandfather when they
delivered the eggs his grandfather sold. He collected the money which excited
him. At the same age he would pick up dump offcuts near a mine operation
with a dump that was close to where he lived. He would then make doormats
out of the offcuts and sell them. His grandfather advised him to save all his
money in a moneybox. He remembers his childhood as a happy time one
where his grandparents and parents particularly his father, Fortune Kunene,
provided a stable and nurturing environment for him and his four brothers. His
parents, who were both teachers understood the importance of education and
Keith was sent to a tough Catholic boarding school in Vryheid in KwaZulu-
Natal. After school he found work as an administrative clerk at a hospital. After
six years in this job, he studied law at the University of Zululand, which is now
known as the University of KwaZulu-Natal. He ended up running a successful
law practice. Rather than trying to secure employment in a predictably white-
owned legal practice, he decided to add his proven entrepreneurial flair to his
profession and started his own law firm in 1976. But Keith wanted to be both a
lawyer and businessman. In 1978 Keith secured a sub-lease for Mr. Kunene
senior to operate a fresh milk outlet in Vosloorus. The business underwent
drastic changes when in 1983 the Kunene brothers won a tender to take over
a liquor outlet that was previously owned by the government in the same
township. In addition, the milk outlet started selling Coca-Cola products on a
wholesale basis. Three of the five brothers, Zanosi, Zoli and Menzi joined the
business on a full-time basis. The Coca-Cola leg of the business grew rapidly
between 1983 and 1987 culminating in the establishment of three Coca-Cola
wholesale outlets. In 1991, the business was appointed as the official
distributor of Coca-Cola brands by the Nigel Bottling Industries. Prior to Coca-
Cola’s return to South Africa in 1994, the Kunene brothers were the largest
independent distributors of Coca-Cola in this country. The acquisition of Coca-
Cola Bottling Mpumalanga (CCBM) enabled the brothers to formalise their
business interests through Kunene Bros. Holdings (Proprietary) Limited (KBH)
was incorporated on 21 July 1994 as an “active ownership” business with
diversified interests. On 28 August 1994, Kunene Finance Company (KFC)
was established for the purpose of raising medium-to-long term finance to
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MasterVincent. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R49,80. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now