Established in 2005, New GX is now considering its next steps, which might include a listing. Founder and CEO Khudusela “Khudu” Pitje explains his company’s protocol:
“We provide our partners with the necessary business acumen, financial expertise and industry knowledge needed to achieve their growth potential.”
According to Khudu, he received his entrepreneurial spirit form his father, a “’bootstraps township businessman” who eventually owned the first cinema in Mamelodi, along with a number of other enterprises. He was also elected as the first mayor of the township in 1967, but lost everything in a politically motivated attack in the 80s when Khudu was in Std 7. Fortunately, a bursary from his high school secured his education.
After school, Khudu studied accounting. He graduated in 1999 and then worked for JP Morgan in London, specialising in sectors that would prove valuable for New GX.
The turning point came in 2005, when one of South Africa’s major banks identified New GX’s high growth potential.
To date, major investment areas have concentrated on telecommunications and technology, energy solutions, and waste and logistics. Some of the key ventures in which New GX has been involved include DFA, an open-access network that has created over 6 000 jobs; and New GX Enviro, a waste management and sustainability business that is developing waste-processing infrastructure and renewable energy projects.
The move into sectors that improve life for many is an integral part of the New GX philosophy. Khudusela explains: “We believe we all have a responsibility to create jobs, and to help make things better for all.”
Check out the video below for more on Khudusela’s entrepreneurial journey.