Canaf, originally formed in 1996 as Uganda Gold Mining, is a publically listed company on the TSX Venture Exchange with a long-term strategic focus on investing and developing in the emerging markets of Africa. In 2004, Uganda Gold Mining re-branded to CanAfrican Metals and Mining Inc., and then to Canaf Group Inc. in 2007. In 2018, Canaf Group again changed its name to Canaf Investments Inc. to better represent the Corporation, as well as being a requirement of the Corporation’s new jurisdiction of British Columbia, which was also moved in the same year.
The board of directors has a significant shareholding position in the Corporation, and is directly involved in the management and operations and subsidiaries of the Corporation.
Cash-flow for the Corporation is being provided by its wholly own subsidiary in South Africa, Quantum Screening and Crushing (Pty) Ltd., ("Quantum"). Quantum, via its subsidiary, Southern Coal (Pty) Ltd., beneficiates anthracite by processing it through heated kilns to produce a product known as 'calcined anthracite', which is primarily used a substitute to coke in various sintering processes. Canaf is focused on expanding the current business of Southern Coal, which over the years has shown to grow its revenue and profits as the demand for the products grows in South Africa.
Canaf believes that owning a cash-generating asset, with minimal short and long term debt, provides the Corporation with long-term security and financial flexibility, as it actively looks to expand in South Africa via its shareholding in Quantum, either by increasing its market share in the reductant and coke replacement market, or by aligning itself with strong partners in related industries, in particular the mining of the raw material, anthracite. The Corporation also has longer-term ambitions to invest in sustainable industries within other emerging economies of Africa.