South Africa's Mahlako announces energy fund
Mahlako Financial Services, a subsidiary of South African alternative investments fund manager Mahlako a Phahla Investments, has announced its maiden R1.5 billion (about $102 million) energy fund that seeks to invest in businesses and energy projects with growth potential along the entire value chain.
Named after their pioneering, entrepreneurial mother, Mahlako Maponya, the company was founded by sisters Makole Mupita and Meta Mhlarhi, to pay homage to her legacy in building businesses at a time when it was deemed impossible to do so.
“This fund is the first of its kind – a 100% black women owned energy fund with a mandate that expands beyond renewable energy, to include gas and energy services sectors, as we endeavour to tackle, disrupt and transform South Africa’s energy sector,” said Mupita.
Mahlako has made the journey from developers to investors, having been at the forefront of the renewable energy sector since 2009. With over 40 years of collective experience, the team has managed over R4 billion (about $273 million) in funds. Mahlako has invested in Round 1 and Round 2 projects in the Renewable Energy Independent Power Producer Procurement Programme.
Mahlako seeks to provide income and growth of capital supporting enterprising owners and managers.
“We back our portfolio companies holistically beyond providing working capital. Aside from our expertise, we will leverage our network to offer access to a strategic network of resources and future funding partners, to bring the best support for the most promising business contributing to the energy transition,” said Mhlarhi.
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