Our People



Chief Executive Officer


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)

Board Representation:

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).

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.


Mr Lwazi Koyana was appointment to the MIC board in April 2013 as a non-executive director.

He is the Founder and Managing Director of Nations Capital Advisors. Mr. Koyana served as Managing Director of Greenwich Asset Management in Cape Town. He has extensive experience in the business environment, particularly in corporate finance and asset management. He serves as Chairman of Red Cherry Media Holdings Proprietary Limited.

Mr. Koyana has been an Independent Non-Executive Director of Afgri Limited since 2009 and SecureData Holdings Limited since October 8, 2012. He serves as a non-executive director on JSE listed Afgri Limited.

Mr. Koyana is a Chartered Accountant by training has investment and structured finance experience which he gained during his time as an investment analyst as well as in his current financial consultancy business where he was involved in various transactions.


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 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.


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.


IMG_2625 thato


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.



Senior Investment Manager

Nangamso (“Nan”) Mankai is a seasoned investment and finance professional with 16 years’ experience in audit, corporate finance, private equity, project finance, investment management and strategy development across South- and Sub-Saharan Africa. Nan is a qualified CA (SA) and holds a BComm from Rhodes University, BComm (Honours) from UKZN, and an MBA from the Gordon Institute of Business Science. Prior to joining MIC, Nan was a Principal within the investments team of Bigen Africa, an infrastructure development company. Nan has gained valuable private equity and corporate finance experience over her career working for the several private equity and investment holding companies.

Nan also possesses significant board expertise having served on several boards in various non-executive capacities. She is currently an independent director of Curro Holdings Limited.


Stakeholder Manager

Oren completed a BA in Economics and Political Science at Wits University in 1993 and 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. His career spans 28 years across the not-for-profit sector, various levels of government and commercial entities, including a diverse set of industries such as development, urban and regional economics, broadcasting, consultancy and finance.

Oren joined MIC in 2005 and serves on various investee boards, trusts and foundations, and heads up the stakeholder management portfolio (incorporating marketing and corporate social responsibility).



Investment Analyst

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.


Group Financial Manager

Lebohang Storom joined MIC as Group Financial Manager on the 14th of September 2020.  Lebohang was previously the Group Financial Manager: Technical and Reporting & Finance Enterprise Resource Planning Implementation Lead at AdCorp. Lebo is a Chartered Accountant who also has a Masters of Commerce in Taxation and an MBA. Lebo comes with many years of financial accounting and financial reporting experience.


Senior Investment Manager
B.Sc Ac Sci (Hons)

Zaheer Abdulla holds a Bachelor’s Degree and Honours in Actuarial Science and has extensive corporate finance and private equity experience

He joined the Mineworkers Investment Company (MIC) in 2012 and serves on the boards of MIC’s strategic investments including Metrofile Holdings, Tracker, VOX Telecoms and Multiknit.