Progress Report Towu

The journey started in June 1999 when NACTU (National Council of Trade
Unions) offered the company a telephone line and a small office with one
desk. TOWU became the first affiliate union to take the product of Umanyano
Finance (Pty) Ltd; then jointly owned by Mafori Consultants and NACTU
Investment Holdings.
Mafori became the management company.
Since then, the company has grown to become the largest non-white financial
services entity in the country.
It entered into a deal with the JSE listed Thuthukani Group in 2000, became a
subsidiary of Saambou Holdings in 2002, and created the first mobile bank;
WIZZIT in 2006.
All these achievements are through the confidence we got from the union leaders:

• Cunningham Ngcukana (fomer General Secretary of NACTU)
• Gary Wilson (former General Secretary of TOWU)
• Tony Franks (current General Secretary of TOWU)

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