Empowerment Capital has Makhathini as new CEO
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EMPOWERMENT Capital Investment Partners has appointed Bongumusa Makhathini as its new chief executive as the venture capital and investment business gears for growth.
“Our next phase of growth requires a visionary leader with an exceptional track record, an extensive network and an understanding of the South African business landscape. Bongumusa more than meets these requirements,” said Anton Baumann, the executive director at Empowerment Capital, yesterday.
Makhathini is a Harvard Business School graduate and chairperson of the SABC’s board. He had held several directorships, including at SA Breweries (director of corporate affairs and transformation), British American Tobacco (director of legal and external affairs) and African Commercial Diplomacy Consulting (managing director).
Empowerment Capital Investment Partners has placed more than R200 million into more than 20 South African start-ups through its three investment funds: Andzani Ventures, Imvelo Ventures and Thuthuka Nathi Ventures.
The funds are backed by South African corporates Sappi, Shoprite Checkers and Capitec Bank. Empowerment Capital’s investments include Acumen Software, Quench Delivery, Zulzi On Demand, Bizzamm, ForGood, Moneyworks Financial Services, Kinektek, Ice Media Group, Cliqtech, Xago Technologies and Lipa Payments.
Started in 2015 by Baumann and Mark Fitzjohn, Empowerment Capital said it was seeking aggressive growth as it entered the next phase of its business, to raise funding with institutional investors for further support of the small, medium and micro sector.
“The focus of the next 24-month growth phase is a second raise of third-party institutional and international investment into a portfolio of de-risked investment assets backed by strong listed corporate partners,” the firm said.