Executive Summary
The business landscape in Africa has been faced with diverse challenges varying from economic policy right through to stakeholder engagement. Throughout the continent countries struggle to find the balance between nationalisation and free market economies and at the same time hope to attract foreign direct investment into their borders. With specific reference to South Africa, the economic policy of BEE and more recently the drive for localisation has caused investors to become nervous and those that are not classified as “Historically Disadvantaged Individuals” to fear their investments will be used as political tools to gain more votes.
Mawala Holdings operates as a truly African business that believes in the potential growth of Africa as the world’s factory, food source and minerals headquarters. This belief is correctly placed as figures and investments in Africa have shown that is a leading producer. As Mawala Holdings we function to facilitate a meeting ground between policy, investment and stakeholder engagement to ensure that investors are well rewarded for their capital investments and that governments are able to implement and see local economic development plans be implemented.
Our team of experienced individuals facilitate high impact strategic projects with local communities and large companies with the goal of ensuring investment security, skills transfer and compliance with local government policy. The company sets itself apart by operating in this niche with its team of individuals with unique skillsets in the area of negotiation, local economic policy and financial expertise.
Mawala Holdings looks to grow investment in Africa by becoming a first choice for investors to access new regions which present new opportunities. It also seeks to be the first choice for governments to assist in becoming the lead implementing agent of their local economic development policies.
Our Team
Executive Directors
Phumelela Msomi - CEO
Phumelela Msomi is the founder and CEO of Mawala Holdings and has a Bcom Accounting degree from the University of KwaZulu-Natal. He has gained experience through working with some of the largest manufacturers and suppliers of fencing and wire products in South Africa. A passion for business has allowed him to start from humble beginnings to holding a directorship at one of the largest fencing companies in KwaZulu-Natal.
Vimbai Msomi (CA)SA - CFO
Vimbai is a chartered accountant who holds a Bcom Accounting degree from the University of KwaZulu-Natal. She served her articles at Nexia SAB & T inc. and from there she went on to run Mawala Finance as a consultant to government entities. She has extensive experience in financial reporting and auditing and adds value to the overall financial strategy of Mawala Holdings.
Independent Non-Executive Directors
Nonkululeko Sindane
Terresa Nonkululeko Msomi Sindane was appointed Director- General in the Department of Justice and Constitutional Development in November 2009 and commenced service in January 2010. Sindane, an attorney by profession with risk management experience, has served on the boards of Eskom, Armscor and the Civil Aviation Authority.
Terresa Nonkululeko Msomi Sindane previously served in the public sector as deputy director-general: Transport Regulation and Public Entity Oversight in the Department of Transport until December 2006. Prior to this, she held the position of deputy director-general: Shareholder Management and Regulatory Services; chief director: Performance Monitoring and Benchmarking; and director: Corporate Governance and Legal administration within the Department of Public Enterprises.
Before entering the public service, she worked at Umgeni Water as legal and risk manager and at Shepstone & Wylie Attorneys, as a conveyance attorney in the litigation department
Khaya Sithole (CA)SA
A graduate of UKZN and Oxford – is an accountant, academic and activist. Khaya completed his chartered accountancy articles with the FirstRand Group.He has lectured in accounting, tax and finance for UKZN, Wits and the UCT College of Accounting and the UCT Graduate School of Business. Khaya has worked as an editor of various textbooks in Financial Reporting and Taxation.
He serves as the resident commentator, writer and talk show host on Kaya FM and writes for the Business Day and Fin24. Khaya has served on the boards of Stadio Holdings Limited; Lefika La Phodiso, ABASA, SAICA Eastern Region and the audit committees of Tshikululu NPC and the Wits University Retirement Fund; and served on the UKZN Senate.