Man gives up 67% of his business for #MandelaDay

Published Jul 18, 2017

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Cape Town - As many small business owners prepared to hand over cups of soup and sandwiches to commemorate Nelson Mandela’s 67 years of public service, one entrepreneur had something completely different in mind. 

Nasrodien Gaffoor, who owns Wetton Mechanical Repairs, decided to hand 67% of the ownership of his company over to his staff.

He will retain just 33% of the ownership.

"I've been contemplating for some time whether I should or should not. But then I realised that I want to empower them," Gaffoor told the Cape Argus. 

Gaffoor has seven staff members and has owned the company since 1998.  

He hopes his staff will be equipped to make a difference in their lives.

"It's really just about me making a difference. From now on they are the bosses and I hope that this will really change them."

Wetton Mechanical Repairs is based in Ottery. When he gave his staff - the new owners - the news, they were excited. 

"I just spoke to my staff and gave them the great news and they are very happy about the process. 

"There is no catch - this is interest free. It's just about me making a huge difference in their lives."

When they received the news, the new owners couldn't believe their ears.

"I was so excited - I couldn't believe my ears. I really thought Nasrodien was dreaming when he told us," employee-turned-boss Isaac Majamgaza said. 

Majamgaza, who has worked as a mechanic for the company for four years, said he never expected something like this to happen.

"I’ve heard a few times that he would like to do this but I thought to myself this guy is dreaming."

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