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, Metrofile Holdings Ltd, and DN Invest (DNI).


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), 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.


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.


Clifford Elk has served on the MIC board as a non-executive director since 1995 and was the first Chief Executive Officer of the MIC (1995 – 2003).

Clifford founded Emdon Elk, a strategic consultancy business assisting companies design and develops executive black empowerment strategies. He then moved to become an executive at SA Teemane Holdings (Proprietary) Limited from 2003 – 2005.

He serves as a non-executive director on a number of boards including Peermont Group (Pty) Ltd, Marang (East Rand), SA Teemane Holdings (Pty) Ltd, Rasanda Investments (Pty) Ltd, Keurbaai Aandeleblok Beperk, KLA Properties (Pty) Ltd, KLA (Pty) Ltd, and Benhove Investments (Pty) Ltd.

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.


Lwazi is the founder and managing director of Nations Capital Advisors (Pty) Ltd. He is a non-executive director of Mineworkers Investment Company (Pty) Ltd, Steve Biko Academic Hospital (chairman) and the South African Qualifications Authority (independent chairman of the audit committee). He is the former independent non-executive director of Afgri Ltd, SecureData and the W&RSETA.



Senior Investment Manager

Nan 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’s experience spans across all aspects in the investment lifecycle from fund-raising, analysis and post-investment management in various sectors, and she has extensive board experience having served on a number of boards and board committees in various capacities.

She currently serves as an independent board member and chairs the Audit & Risk Committee for the JSE-listed Curro Holdings Limited. She is also a volunteer on SAICA’s Legal and Compliance Committee.

Nan is extremely passionate about the development of the youth and women, something she is able to do through volunteering work at her church.

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”


Stakeholder Manager

Oren Fuchs is the Senior Stakeholder Manager for the Mineworkers Investment Company (MIC), which he joined in 2005.

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.



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.


Senior Investment Manager
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
(CA) SA, MBA, MSc(Tax)

Lebohang was previously the the Group Financial Manager: Technical and Reporting & Finance Enterprise Resource Planning and Implementation Lead at AdCorp. He is a Chartered Accountant who also has a Masters of Commerce in Taxation and an MBA.

Lebohang serves on the board of Metrofile Holdings as an alternative Director.