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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).

Nchaupe KHAOLE
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, Universal Industries and DN Invest (DNI).
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 serves on boards of Primedia, Tracker Connect and RMB Divisional Board (member).

She is also an independent non-executive director at Consol Holdings (Pty) Ltd

ARC Chair, Member: IC CA (SA)

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. Lwazi currently serves as an independent non-executive director at the Spar Group Limited, Steve Biko Academic Hospital, the South African Qualifications Authority and the Wholesale and Retail Sector Education and Training Authority.

Clifford ELK
SET Chair, Member: IC & ARC

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. He 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.

Independent Chair, Remco Chair, Member: IC
MBA in International Negotiations

Archie joined NUM in February1986 and in June 1995 he was elected General Secretary of the Southern African Miners Federation to coordinate mining unions across Southern Africa. In 1998 he was elected Deputy General Secretary of the National Union of Mineworkers (NUM), a position that he held from June 1998 till 2006. He was the Executive Chairman at the Siyakhula Sonke Empowerment Corporation (SSC), and a director of Redpath and Sekgwa Mining Services.

Archie joined Samancor Chrome in December 2007 as Group Transformation Manager and was later appointed as the Head of Corporate Affairs and Transformation, and served as trustee within Ndizani, the Employee Trust and a director at Sky Chrome. In July 2021, he retired from Samancor, and currently focuses on farming in Limpopo.

Archie attended leadership training at CPIR and HRCP at Wits Business School, Union Leadership training at Bishop Stortford College in the UK, ILO College in Torino and at Wharton Business School. He is training in Conflict and Dispute Resolution under Conflict Dynamics and holds an MBA in International Negotiations. Archie was appointed the chairman of Mineworkers Investment Company in October 2021.

Quinton DICKS
IC Chair
BA, LLB, P. GrDip.Tax, LLM, MBA

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.

Quinton is currently the Managing Director of the Johannesburg Eye Hospital. He also previously served as the Lead Independent Non-Executive Director, Chairman of the Risk Committee and member of the Social and Ethics, Audit and Remuneration committees at Consol Holdings Limited, as well as the Non-executive Chairman and Chairman of the Investment Committee of the Allegrow Fund in Namibia.

Member: SET & Remco
BIuris, LLB, LLM

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.

Shiluba MAWELA
Member:SET, ARC
BCom (Acc), BCom (Hons), CA(SA)

Shiluba is a Chartered Accountant with over ten years’ experience in the investment and finance sector. She is currently the Secretariat Co-Lead for the National Task Force for Impacting Investing. This Task Force was instituted as a voluntary, multi-stakeholder partnership to further this effort and promote public-private coordination in growing domestic impact investment.

Additionally, Shiluba is the Managing Director of Tshiamo Impact Partners, a fund that invests in high-growth, early-stage social venture opportunities addressing education, healthcare and energy challenges on the continent. Prior to this, she was the Corporate Finance Transactor for Identity Advisory, which is a boutique corporate finance advisory firm providing corporate finance and debt advisory services to both the private and public sector including both listed and unlisted companies.

Before joining Identity Advisory, Shiluba was the Senior Project Manager for Youth Employment Service (YES) South Africa, a business-led initiative supported by the President to create more jobs for unemployed youth. She focused on stakeholder engagement and finance as well as leading fundraising activities. As the Corporate Finance Officer for the Johannesburg Stock Exchange (JSE), she supported the approval of new listings and corporate actions in terms of the JSE listing requirements.
Shiluba was Audit Senior for Ernst & Young, where she managed an audit team for a private equity real estate investment firm in New York.

She has recently been invited by the University of Cape Town to be a guest lecturer on the social impact investing module.

Lupuwana – PEMBA
Member: SET
BSocSci, MBA

Hlonela has over 20 years of experience in leadership, Executive and management roles, spanning across the Public and Private Sector. During this period she had a particular focus on SMME development in financial and non-financial support, Enterprise and Supplier Development (ESD) and BBBEE. She also has extensive experience in Policy, Governance, Advisory, Strategy Development and Implementation. Until 2020, she was the Executive for Commercial and Enterprise/Supplier Development (ESD) at the Barloworld Group responsible for ESD, Stakeholder Management, Social Impact and Empowerment.

Prior to joining the Barloworld Group, she was the Managing Director of Anglo American Zimele, a debt and equity SME fund for Anglo American SA primarily focusing on development of mining and labour sending communities. She served as the Chief Operating Officer at Department of Trade & Industry (2003-2008), and Chief Executive Officer for the Small Enterprise Development Agency (SEDA) from 2008-2013.

Hlonela was Chairperson of the Board of the Small Enterprise Finance Agency (Sefa) from 2016-2019 and was the founding Chairperson of the South African Micro Finance Apex Fund (SAMAF) from 2005-2008. She is the current Chairperson and Trustee of Balemi Trust, an ESD entity for Tiger Brands.

Member: SET
Diploma: Paralegal Studies

Mpho Phakedi started working in the mining industry in 1997. He worked as a general worker and moved to various sections and departments. He worked at Old Lorraine Mine; Winkelhak Mine; Venterspost Mine. He became a shop steward in 1998, was elected in 1999 as the branch secretary and became full time until November 2008. In 2002, comrade Phakedi was elected as the PWV Regional Deputy Secretary of Education. Between 2005 and 2008 he served as both Deputy Chairperson and Chairperson of Goldfields mining house shop steward council. In November 2008 he became the Regional Secretary of PWV region. He was elected as NUM Treasurer General at the 16th National Congress, and in March-April 2022, he was elected as the NUM Deputy General Secretary at the 17th NUM National Congress.

Mr. Phakedi holds diploma in paralegal studies; occupational training & development Practitioner certificate and currently studying towards BA in Law. He acquired knowledge in various studies including basic labour; new Manager program; basic research and writing skills.. He joined the MIC board in October 2022.

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”

Group Stakeholder Manager
BA, MSc (DP)

Oren Fuchs is Group Stakeholder Manager for the Mineworkers Investment Company (‘MIC’), which he joined in 2005. He has extensive experience in development and corporate social investment work, communications and stakeholder management, as well as transformation, having worked in both the public and private sectors. He holds a BA degree in Economics and Political Science, an MSc Development Planning from WITS, as well as a post graduate certificate in Finance from GIBS.

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, including MIC Capital Partners, Yebo Yethu, FirstRand Empowerment Foundation, and the Peermont trusts, as well as heading up the marketing, communications and corporate social responsibility portfolios.

Zamampondo NQADOLO
Investment Manager
BCom (Hons) CA (SA)

Zamampondo Nqadolo is currently an investment manager at Mineworkers Investment Company (Pty) Ltd and contributes to the growth and diversification of the company’s portfolio across various sectors and industries. She has 10 years’ experience spanning across private equity, asset management and audit She is responsible for deal origination, deal execution and post-transaction portfolio management. She serves as a non-executive director on Digital Ecosystems (Subsidiary of DNI Group) and African Marine Solutions (AMSOL). She previously served on the board of Switch Mobile (Subsidiary of DNI Group) and was a board observer on Ster Kinekor Theatres. She is a qualified chartered accountant having completed her articles at PriceWaterhouseCoopers (PwC) in 2016. She holds BCom (Hons) and BCom degree from University of Johannesburg.

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 Connect, Vox, Multiknit and Metrofile Holdings.

Lebohang STOROM
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.

Investment Manager
BCom; BCompt (Hons); CIMA Adv Dip MA

Tebogo is an experienced finance professional with a demonstrated history of success in banking, professional services, other financial services, and telecommunications. She has over 10 years’ experience in various strategic and advisory roles, including leveraged finance, pre- and post-transaction management. Tebogo has successfully led management consulting and corporate transaction teams in previous years, and is a founder of Millemo Group, a strategy and consulting company.

Tebogo holds a Bachelor of Commerce in Financial Accounting from UCT; a Bachelor of Accounting Sciences Honours in Management Accounting from Unisa; and an Advanced Diploma in Management Accounting from CIMA.