The SA SME Fund was established by members of the CEO Initiative - a collaboration between government, labour and business
to address some of the most pressing challenges to the country's economic growth - as an avenue of support
for the SME sector.
We are passionate about nurturing our country's vast entrepreneurial spirit by strengthening the local SME ecosystem, through
providing much-needed capital, as well as business support and mentorship in equal measure. Where there
are existing structures that are already efficient, we will support these, instead of duplicating efforts.
The Fund is a registered standalone investment vehicle managed by an executive management team, which reports to an independent
board of directors. An independent investment committee is responsible for approving appropriate investable
funds that will enable the SME Fund to fulfil its mandate.
BOARD OF DIRECTORS
The SME Fund is governed by a highly experienced board of directors, consisting of respected business leaders.
Adrian Gore is the founder and Chief Executive Officer of the Discovery Group. He launched Discovery in South Africa in 1992,
with a simple and core purpose of making people healthier and enhancing and protecting their
lives. Discovery has since evolved into a diversified and multinational financial services group.
Dr Judy Dlamini is the founder and executive Chairman of the Mbekani Group. She is the former Chairman of Aspen Pharmacare
Limited, a JSE-listed South African pharmaceutical manufacturer with more than 60 established
business operations in more than 50 countries and product distribution in more than 150 countries.
Brian Joffe, the CEO of recently listed Long4Life Limited, is also the founder of the JSE listed Bidvest Group, a business
he built into one of the leading corporations in South Africa. Bidfood was established as a result
of the unbundling of the food-services business out of Bidvest, and Bidcorp.
Lisa Klein is Head of M&A at Discovery Limited, in which role she led the negotiations for the establishment of Discovery’s
partnerships with insurers in China, Asia, the US, Europe, Japan and Canada. She, along with
Adrian Gore and Brian Joffe, have been instrumental in conceptualising and setting up the SA
Jabu Mabuza is the Chairman of Eskom and Telkom SA SOC Limited, as well as the Executive Chairman of Sphere Holdings. He
also serves as the chairman of the Casino Association of South Africa, and has been appointed
as the Africa Chairman of the merged Anheuser-Busch InBev and SABMiller.
Dr Daniel Matjila is the CEO of and Executive Director of the Public Investment Corporation of South Africa – the largest
asset manager in Africa with assets under management in excess of R2 trillion, investing on behalf
of the Government Employees Pension Fund. He has over 22 years’ experience in the investment
Dolly Mokgatle is an Executive Director of Peotona Group Holdings, as well as the Chairperson for Total SA and the Unisa
School of Business Leadership. She serves as non-executive director on the boards of Kumba Iron
Ore and Bid Corporation. She is an attorney by training and made her mark in the field of General
Nigel Payne is chairman of Mr Price Group, and a director of Bidvest Group, Bidcorp, JSE Limited, Vukile Property Fund and
BSi Steel. He generally chairs the risk committees of these companies. He is also a director
of unlisted companies, including PPS Insurance, PPS Investments and Strate.
Christo Wiese is the chairman of Pepkor Holdings and Shoprite Holdings. He holds significant interests in Brait SE, Steinhoff
International Holdings, Tradehold and Invicta Holdings. He is the former chairman of the Industrial
Corporation of South Africa.
EXECUTIVE MANAGEMENT TEAM
The Executive Management team is responsible for the day-to-day activities of the Fund, including due diligence of potential
investable funds, monitoring of funds and investee companies, reporting on the Fund's performance and
driving the non-investment initiatives.
An independent investment committee has been established to evaluate potential investment funds and opportunities on a regular
basis. These individuals have extensive private equity and SME experience.
Gloria Mamba is a highly experienced investment professional who has worked with USAID, African Development Bank, International
Finance Corporation, and other Development Finance Institutions.
Nazeem Martin is a former CEO of Business Partners with more than 18 years of experience in providing risk finance (capital)
and mentorship, technical assistance and business premises exclusively to SMEs, on scale.
Andre Roux is the founder and former CEO of Ethos Private Equity. André is currently the Deputy Chairman of Ethos and Chairman
of the African Council of the Emerging Markets Private Equity Association.
More than 50 listed businesses, as well as a number of government-mandated institutional funds, have committed approximately
R1.4 billion to the SME Fund. Contributions were made according to the businesses' market capitalisation
and is voluntary in nature.
Real capital preservation is our benchmark return for the Fund, and as it is operated as a commercial fund, we aim to provide
our investors with market-related returns over time.