Lereko Motors is a subsidiary of Lereko, a black-owned and black-led investment company established in 2004 and playing a groundbreaking role in the transformation of the South African economy and that of its neighbours. The executive directors of the company, Mr Valli Moosa, Dr Popo Molefe, Dr Lulu Gwagwa have a wealth of experience in public and private sector companies.
Lereko entered the automobile industry in 2005 when Imperial Holdings Ltd (Imperial) sold a 7.25% stake to Lereko Mobility (a company 49% owned by Imperial and 51% owned by a broad-based consortium led by Lereko). The investment was exited in June 2015 through a share buy-back scheme by Imperial. At the same time Lereko Mobility, through Leroko Motors, acquired Hino Parow and Isuzu Trucks Bloemfontein to enter a new phase of Broad-based Black Economic Empowerment BBBEE transaction. In August 2016 Lereko Motors acquired the Volvo Trucks dealership in Polokwane 2016 to add to the portfolio.
The acquisitions enabled Lereko to enter the commercial vehicle sector and created a majority black-owned commercial vehicle dealership. Lereko sees the transactions as strategic and a pre-cursor to further opportunities in this sector.
Lereko shareholders Tsheko Ratsheko and Cedrick Mampuru serve on the board of Lereko Motors.