POSSIBLY THE MOST elaborate of the projects peddled by the old Prestige Ventures, this wannabe waste management company split into two entities – one of which, Irma Envirotec, was actually listed on the mezzanine board of the Bermuda Stock Exchange.
SA Organics initially created quite a stir with claims it owned a waste management device that used “black hole” technology. It also claimed multimillion US dollar contracts with offshore parties were in the pipeline – most notably with a Belgian pig farmer (no kidding) by the name of Ludo Dobbels.
SA Organics disappeared without delivering on its fanciful promises – but not before milking public shareholders for a few million rand. Irma Envirotec spent a few years in limbo on the BSX (with not a single share traded) before having its listing terminated after not paying its exchange-related fees.