Another inspiring SA business story from London
Another day in London, another inspiring story of a talented young South African.
In 2006, Robby du Toit arrived in the UK with an idea born from his successful property business in Johannesburg. He saw an opportunity in helping Brits who needed to sell their homes in a hurry – usually those who had been transferred or had inherited properties they didn't want.
It took Du Toit and Scottish partner Edward Stevenson's Quanta Group eight years to turn a profit. Getting there required building a capital base through literally hundreds of presentations to potential investors. But they now manage a R140m fund that holds around 60 residential properties for at any one time, with an average of three months between purchase and resale.
A friendship with the London-based son of WBHO chairman Mike Wylie introduced the SA business leader as an investor and now Quanta's chairman. Wylie, who has an eye for these things, sees a big future for Du Toit and his entrepreneurial business. After meeting him yesterday, so do I.