Chief Executive Officer
CA (SA), MBA
Mary joined the MIC in 2010 and previously served as a Non-Executive Director from March 2008 to 2010. Before joining the MIC, Mary was the Chief Financial Officer at Freight Dynamics. Prior to this, she was an executive in the Corporate Services division of the South African Institute of Chartered Accountants. Mary also held executive positions in the resources, media, utilities and financial services sectors. She serves on the boards of a number of the company’s strategic investments. These include: Primedia (Pty) Ltd, FirstRand Group Ltd, Metrofile Holdings Ltd, Ascendis, and is an independent director of Kumba Iron Ore.
Chief Investment Officer
Bcom (Hons), MBA
Nchaupe joined MIC in 2012 after a stint with the Development Bank of Southern Africa (DBSA) as a Senior Investment Officer. Nchaupe has in excess of 15 years’ experience within private equity and corporate finance and has served as a director on the boards of a number of portfolio companies in his previous roles and continues to do so within MIC’s portfolio of companies. Nchaupe’s current role includes leading the MIC investment team and taking responsibility for the investment process (from screening to realisation) at MIC. His previous roles include the following:
Senior Investment Officer: Development Bank of Southern Africa
Private Equity and Corporate Finance Executive: Safika Holdings
Deputy MD: Tandem Capital (a private equity partnership between Safika Holdings and RMB Corvest)
First National Bank (FNB), Peermont Holdings (Pty) Ltd, Torre Industries Ltd, Primedia Holdings (Pty) Ltd, Universal Industries, GE South Africa Technologies (Pty) Ltd and Set Point Technology (PTY) Ltd.
Chief Financial Officer
CA (SA), CA (Zimbabwe), MBA
Cynthia joined the MIC in 2008. Before joining MIC, Cynthia was an audit partner at Deloitte & Touche.
Cynthia servers on boards of Primedia (Pty) Ltd, Tracker Technology Holdings and RMB Divisional Board (member), Nimble Group (Pty) Ltd and BP South Africa (Pty) Ltd.
She is also an independent non-executive director at Consol Holdings (Pty) Ltd.
Phumzile joined the MIC board as a non-executive director in October 2006. She is the Executive Chairperson of Afropulse Group, a woman led Investment, Investor Relations and Corporate Advisory house.
She was the Economic Advisor to the former Honourable B P Sonjica, Minister of Minerals and Energy (DME).
Phumzile was previously an executive director of junior platinum miner, Anooraq Resources; she is an independent non-executive Director of Imperial Holdings, Massmart Holdings Limited, Peermont Global, Port Regulator, Astrapak and the Transaction Capital.
Quinton Dicks joined the MIC Board in December 2016. After obtaining his first qualifications; two degrees BA Laws and BA Arts from the University of Natal in 1988, he went on to obtain a Post Graduate Diploma in Taxation in 1994, which he followed up with a Master of Laws degree from then Rand Afrikaans University in 2001. In 2004, he completed his MBA with the University of Cape Town.
He is the Independent Non-Executive Director, Chairman of the Risk and Social and Ethics Committees and a member of the Audit and Remuneration committees at Consol Holdings Limited. He also serves as Independent Non-Executive Director and Chairman of the Audit committee at private equity firm Bopa Moruo.
Rams Ramashia joined the MIC Board as Non- Executive Director in December 2016. Rams is an advocate of the High Court of South Africa and practices law as a member of the Pretoria Association of Advocates. He is also Non-Executive Chairman of Rand Refinery, one of the world’s largest precious metals refinery site. Rams is an independent non-executive director of AECI, a JSE listed company where he also serves on its Risk committee, Social and Ethics Committee, Nominations Committee and Remuneration Committee. He is also a board member of Anglo American South Africa, where he chairs the Social and ethics committee and also serves on the Risk and Audit Committee.
Bharti Harie was appointed as a non-executive director of the MIC Board in April 2013. She is an admitted attorney, notary and conveyancer and holds a BA LLB (Natal) and an LLM (Wits).
Bharti spent 14 years at the IDC until August 2010 where she held various roles, including Head: Corporate Funding (syndicated loans, DFI funding lines) and Head: International Finance. She was part of IDC’s debt team in the Mozal Aluminium Smelter project finance and managed the Mozfund SPV (consisting of various SA banks) responsible for export finance into the project.
In addition to the MIC, Bharti also currently serves on the boards of Ascendis Health Limited, Lenmed Investments Limited and Bell Equipment South Africa. She had previously served on the boards of the Charities Aid Foundation, Ethekwini Hospital and Heart Centre and Bell Equipment Limited.
Clifford was appointed as the first Chief Executive Officer on MIC’s founding. He was instrumental in laying the foundation for the initial phase of the company and executing many of MIC’s landmark transactions during the period 1995 until 2003. This period presented complexities and challenges, as MIC, was a pioneering trade union aligned investment company. It was necessary to navigate the complexities of investing to support social impact for the benefit of mineworkers in the context of a South Africa in early transition. During this period, he oversaw the establishment of an ethos and practise that came to embody broad based black economic transformation later codified as the B-BBEE Codes of best practice. Clifford stepped down as an executive director to enable succession planning and has since then served continuously as a non-executive director on the Board and its various sub-committees including investment, audit and socio-economic and transformation.
Clifford is a social entrepreneur, ‘creative thinker and disrupter’. He is an architect by training that has worked in the NGO, developmental and commercial sectors. His first interactions with NUM was in a technical and advisory capacity in the late 1980s. During the early 1990’s he was instrumental in NUM becoming the first trade union to acquire and occupy its own properties in the inner city of Johannesburg and the various regions, as well as establishing the Elijah Barayi Memorial Training Centre in Yeoville. He was appointed together with a representative board of directors made up of worker leaders from the regions in late 1994 to establish the nascent investment company. The board was charged with the mandate to generate sustainable free cashflow to support NUM’s development programmes. There was no rule book or precedents to follow.
Other than serving on the MIC board, Clifford has founded and is active in a number of small businesses. He has executed programmes driving change and excellence in the public education sector, and currently manages Connect Channel, an emerging local content originator.
Clifford is also one of the founders and executives director of Connect Channel (Pty) Ltd, a digital content and television production company that has been an Enterprise Development beneficiary of Multichoice Ltd.
MAKGABO WILLIAM MABAPA
Makgabo William Mabapa started his NUM service as branch chairperson at Anglo Platinum Mogalakwena section in 1994, and served in various capacities in the NUM at numerous branches until 2015 when he was elected as the Deputy General Secretary at the 15th National Congress of the NUM.
Oupa Komane was appointed as a non-executive director on the MIC board in January 2017. He is currently the Group Employee Relations Manager for Aveng (Africa) Limited where he leads strategic group direction, stakeholder leadership and overall group compliance and governance. Oupa served as Deputy General Secretary of the National Union of Mineworkers from 2006 to 2012. Prior to that, he spent 15 years working with Eskom Holdings in various positions. He has also held a number of positions on different boards of companies including Chairperson of Remco at Electricity Distribution Industry Holdings (EDI), Chairperson of the board of NUMPROP Ltd and Trustee of the Teba Trust Fund.
Simphiwe Nanise is the Chief Operating Officer at Mineworkers Investment Trust and Director at Mineworkers Recycling Services, Marula Natural Products, J B Marks Education Trust Fund, Elijah Barayi Memorial Training Centre, Numprop, JB Marks, Mineworkers Development Agency, and EBMTC.
BBusSc (Hons), Mcom
Sandiswa joined MIC in 2016 as a Senior Transactor in the investments team. Prior to joining MIC, she gained 10 years investment banking experience from Merrill Lynch SA and Nedbank Ltd. Her investment banking experience spans corporate finance, acquisition and leveraged finance as well as alternative equity investments. Sandiswa serves on the boards of Universal Industries Corporation (Pty) Ltd, African Marine Solutions (Pty) Ltd, Peermont Global Holdings and Westcon Southern Africa.
Impact Investment Manager
Thato started his career at Deloitte and Touche Woodmead in the financial services department and gained exposure across various sub sectors such as long-term insurance, credit providers and banking institutions, and furthermore spent a period in the Deloitte Los Angeles office.
Subsequently Thato joined a boutique management consulting firm called Step Advisory where he gained significant experience in strategy development which involved developing a strong competence in competitor, value proposition and customer segmentation analysis and development. He led a number of project teams in his previous role and has facilitated the development of strategies for a number of clients. He also honed his skills in business analysis, financial modelling, strategy facilitation and strategic communication in his previous role.
Currently he has assumed leadership of the firm’s research activities around the evolving discipline of sustainable and impact investing and is responsible for developing and growing our impact investing portfolio, where these companies are sourced and acquired based not only on their financial performance but also on their ability to address specific social objectives which we have identified. He also assists on the execution of special projects for the CEO as well as identifying areas where our investee companies are able to assist in providing unique benefits for NUM members. He is also currently studying towards a Masters in Development Finance from the University of Cape Town’s Graduate School of Business.
BA, MSC (DP)
He completed a BA in Economics and Political Science at Wits University in 1993 and then went on to study an MSc Development Planning at Wits which he completed in 1995. He also completed a Finance Certificate at GIBS in 2010.
Oren started his career in 1992 at Robin Lee Associates, a consultancy working in the development sector, and subsequently moved to the Johannesburg Metropolitan Council where he worked on urban and regional economic planning. After joining the Gauteng Treasury in 1998, he was appointed to manage setting up Blue IQ, a strategic economic infrastructure agency for the province, in 1999.
In his capacity as General Manager, Financial Viability, he was responsible for the programme management of the Newtown, Constitution Hill and Innovation Hub initiatives, as well as heading up the marketing portfolio. In 2002 Oren joined the SABC on a contract basis as Corporate Strategy Manager, where he was involved in a number of strategic initiatives such as regional television licenses and outsourcing of certain technologies within the corporation.
Oren also represents MIC’s interests on various investee boards, trusts and foundations, and heads up the marketing and corporate social responsibility portfolios.
Zamampondo joined MIC in October 2018 as an investment analyst. Prior to joining MIC, she spent a year and half at Benguela Global Fund Managers as an equity analyst where she gained experience in building and maintaining financial models, generating detailed research reports and keeping abreast of stock market. At Benguela she covered FMCG, Travel and entertainment and the healthcare sectors. She completed her articles at PwC in Energy, Utilities and Mining.
B.Sc Ac Sci (Hons)
Zaheer Abdulla holds a Bachelor’s Degree and Honours in Actuarial Science over 10 years of corporate finance and investment management experience.
He has extensive experience across all aspects of private equity from origination to exits and joined the Mineworkers Investment Company in 2012.
Currently, Zaheer is an investment manager with the Mineworkers Investment Company (Pty) Ltd (MIC).
Zaheer started his career at Macquarie First South Securities in the Trading and Stockbroking division.
Zaheer serves on the boards of many of MIC’s strategic investments which include Tracker, General Electric Southern Africa Technologies, Multiknit and Metrofile Holdings.
Group Financial Manager
Yongama joined Mineworkers Investment Company (MIC) in January 2018. Her career spans over 17 years in different facets of finance and operations in the banking, aviation and petroleum industries. She is a member of the South African Institute of Chartered Accountants and serves on the Board and Audit & Risk Committe of Optron (Pty) Ltd.