Canaf, originally formed in 1996 as Uganda Gold Mining to explore the Kilembe Cobalt and Copper mine in Uganda, is a publically listed company on the TSX Venture Exchange, now with a long-term strategic focus on investing in South 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 grow its calcining business as well as expand into new sectors in South Africa via its investment entity, Canaf Investments (Pty) Ltd.
In 2019, Canaf registered its property investment entity, Canaf Estate Holdings (Pty) Ltd., which is focused on acquiring, redeveloping and holding properties within the suburban areas of the old Johannesburg CBD.