Theophilous James Bennett Botha (Theo Botha) (born March 1, 1960) is a South African shareholder activist.
He has queried many companies in the area of good corporate governance

Corporate governance

Corporate governance is a number of processes, customs, policies, laws, and institutions which have impact on the way a company is controlled...

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ethics

Ethics

Ethics, also known as moral philosophy, is a branch of philosophy that addresses questions about morality—that is, concepts such as good and evil, right and wrong, virtue and vice, justice and crime, etc.Major branches of ethics include:...

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executive compensation,
environmental practices
and Black Economic Empowerment

Black Economic Empowerment

Black Economic Empowerment is a programme launched by the South African government to redress the inequalities of Apartheid by giving previously disadvantaged groups economic opportunities previously not available to them...

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He has also criticized South African corporate governance guidelines as too lenient.

Theo Botha first decided to pursue shareholder activism after an investment in a small life insurance company (The Sage Group

The Sage Group

The Sage Group plc , commonly known as Sage, is a global enterprise software company headquartered in Newcastle upon Tyne, United Kingdom. It is the world's third-largest supplier of enterprise resource planning software , the largest supplier to small businesses, and has 6.1 million customers...

).
The company was making huge losses in the USA that it refused to disclose to the South African shareholders.

In a press interview it was found that "Botha doesn’t appear to be making money off this enterprise; in most instances he buys only one share."

Botha's usual approach is not unlike his first encounter with Sage in which all he did was pose a few questions which usually make the companies in question edgy. He spends time going through company financial reports to note discrepancies which he will use to compile his questions which he asks during company AGM's.

The South African companies Botha has confronted include The Sage Group

The Sage Group

The Sage Group plc , commonly known as Sage, is a global enterprise software company headquartered in Newcastle upon Tyne, United Kingdom. It is the world's third-largest supplier of enterprise resource planning software , the largest supplier to small businesses, and has 6.1 million customers...

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Sappi

Sappi

Sappi Limited is a global pulp and paper company group.Sappi is a producer of coated fine paper and chemical cellulose. The company conducts its business through three business units: Sappi Fine Paper, Sappi Forest Products and Sappi Trading....

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Absa

ABSA

ABSA may refer to:* ABSA Cargo Airline, a cargo airline* Absa Group Limited, the largest consumer bank in South Africa* African Baseball & Softball Association* Australian Bird Study Association, an ornithological organization...

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Sasol

Sasol

Sasol Ltd. is a South African company involved in mining, energy, chemicals and synfuels. In particular, they produce petrol and diesel profitably from coal and natural gas using Fischer-Tropsch process...

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SABMiller

SABMiller

SABMiller plc is a global brewing and bottling company headquartered in London, United Kingdom. It is the world's second-largest brewing company measured by revenues and is also a major bottler of Coca-Cola. Its brands include Grolsch, Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell...

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Pick n Pay Stores Limited,
Tiger Brands

Tiger Brands

Tiger Brands Limited is a South African packaged goods company. In addition to the company's South African operations Tiger Brands also has direct and indirect interests in international food businesses in Chile, Zimbabwe, Kenya and Cameroon...

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Avusa

Avusa

-History:Avusa is a media company in South Africa, formerly known as Johnnic Communications. Avusa means "to rouse feelings, to revive and evokes action"...

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Anglo Platinum

Anglo Platinum

Anglo Platinum Limited is the world's largest primary producer of platinum, accounting for about 38% of the world's annual. The company, based in South Africa, was previously called "Anglo American Platinum Corporation Limited". Anglo Platinum expects to produce approximately 2.9 million...

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Pretoria Portland Cement Company

Pretoria Portland Cement Company

Pretoria Portland Cement Company or simply PPC Cement is an South African cement producing company with eight manufacturing facilities and three milling depots in South Africa, Botswana and Zimbabwe...

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Mutual & Federal

Old Mutual

Old Mutual plc is an international long-term savings group. Established in 1845 in South Africa, it is now a FTSE100 listed company operating in 33 countries.-History:...

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Bidvest

Bidvest Group Limited, The

Bidvest is a South Africa-based distribution services and trading business and the largest foodservice business outside North America. The Group is active in freight management, outsourced services, industrial and commercial products and services, printing, packaging closures, stationery, office...

, Wesizwe Platinum

Wesizwe Platinum

Wesizwe Platinum is a controversial mining business in South Africa.There have been some concerns about the governance of Wesizwe Platinum.-Frischgewaagd-Ledig:...

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and Liberty Holdings Limited

Liberty Holdings Limited

Liberty Holdings Ltd is an African wealth management group based in Johannesburg, South Africa. Liberty has interests in life and health insurance, asset management and property development, with business operations in six other countries across Southern, East and West Africa.The group’s...

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