Shaping Impact Investing

Black female leaders shaping impact investing.

Who we are

Heritage Capital Shaping Impact Investing

We are a 100% black-female-owned and controlled private equity fund management company. Combining investment and portfolio management and market insight, and backed by institutional investors, we are focused on investing in the industrial, consumer goods and services sectors in Sub-Saharan Africa.

We have a strong ESG proposition that forms an integral part of how we shape our company and portfolio companies. Through our governance practices, we commit to ensuring that no operation or entity into which we invest will cause undue risk to or a negative impact on the environment. These commitments are underpinned by our belief that strong and efficient stewardship of environmental and social matters in our portfolio is linked to strong and efficient management of our portfolio’s financial returns.

We understand the need for job creation, skills development, and transformation in the South African economy, which is why our focus is on positively impacting previously disadvantaged South Africans. We also pride ourselves in maintaining an employee proposition to attract and retain highly skilled people.

About

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Meet the Human Capital

Our mission keeps us focused and accountable, our vision drives us, and our values dictate how we succeed. As a team, we are passionate about leaving a positive legacy that will last for generations to come.

We have over 80 years of collective experience in finance and investment management, making us a highly qualified and competent team. We believe in shaping the world around us by inspiring others and questioning industry norms to find best-practice approaches.

Philile Maphumulo

Philile Maphumulo

My love for accounting and inspiration to become a Chartered Accountant were cultivated by my high-school teacher. After completing my articles in the Financial Institutions Service Team at Deloitte, I spent two years as part of a team in a boutique corporate finance advisory firm. I was part of the RMB Corvest team that managed over R3 billion in private equity assets at the time. My most recent vocational highlight has been co-founding Heritage Capital in 2015. I am passionate about the empowerment of women, and the upliftment of young people through education. I enjoy the pristine beauty of nature and travelling is my hobby.  

Xolisile Ntanzi

Xolisile Ntanzi

“The children are our future. Teach them well and let them lead the way. Show them all the beauty they possess inside.” – Michael Masser and Linda Diane Creed

At a young age my dad ignited my passion for numbers by encouraging me to work at his tuckshop. Today I am a Chartered Accountant with over 15 years of private equity and project finance experience. While working as the fund CFO for Brait Fund IV International, my most revered career highlight was overseeing the finance and administration of the largest fund, which closed at USD500 million. I then moved to dealmaking at the National Empowerment Fund’s Strategic Projects Fund. Before becoming a partner and CFO at Heritage Capital, I was the fund CFO for Sanlam Private Equity. I enjoy travelling, mostly because it constantly challenges me to not only adapt to and explore new surroundings, but also to engage with different people from diverse cultures, to embrace adventures as they come, and to share meaningful experiences with friends and loved ones.

Tiisetso Chimbalanga

Tiisetso Chimbalanga

I was raised by a single mom who exemplified the true spirit of being imbokodo (a Zulu word meaning “a rock”). Through her own journey, “my rock” inspired me to truly believe that although in life we may face defeats, they can be defeated. Her philosophy of “you can do it” encouraged me to complete a Bachelor of Commerce degree majoring in corporate finance and investments, which became a springboard for my vocational endeavours. I started off my career at Old Mutual, and shortly thereafter I moved into corporate finance. My experience in corporate finance has been in mergers and acquisitions, capital raisings, and client research mandates across various sectors – exposure which has been pivotal for my role at Heritage Capital.

Mbongeni Ngwenya

Mbongeni Ngwenya

My great leap of faith took place when a member of the church that I attend offered me a scholarship to study a Postgraduate Diploma in Financial Markets at the University of Johannesburg. This opportunity led me to joining the team at Heritage Capital and most recently landed me a secondment at one of our investee companies. What I enjoy most about working at Heritage Capital is the culture of ownership and accountability. My dream is to one day be able to lead others to incredible and rare opportunities.

Kerry Waugh

Kerry Waugh

Since qualifying as a Chartered Accountant, I have been involved in business for over 20 years in both local (Africa, my home) and global (India) markets. I have held various roles in the whole cycle of identifying a business in which to invest, right through to monitoring and exiting transactions at an enhanced valuation by positively shaping strategy. My career highlights include being the first professional female to have been employed by RMB Corvest; being the founder and director of Shalamuka Capital (a BEE private equity company); as well as being part of the team during the initial years of Oppenheimer Partners. From a Heritage Capital perspective, what is core to our investment decision-making is “investing with a conscience”, which very much aligns with my values and passion points.

Nompumelelo Radebe

Nompumelelo Radebe

I am an accomplished Human Resources Practitioner with over 27 years of experience. Throughout my career, I have been deeply involved in various aspects of HR management, strategy formulation, and value chain management across diverse sectors, including financial services, consulting, and education. My academic background, including a Bachelor of Social Sciences, an Advanced Diploma in Marketing, and an Advanced Diploma in Labour Relations, has equipped me with a robust foundation in business management and leadership. I have successfully led strategic initiatives and facilitated organizational success through my expertise in Transformation,
Environmental, Social, and Governance (ESG) and governance.

Michael (Motty) Sacks

Michael (Motty) Sacks

I have more than 50 years’ experience as a consultant, advisor, entrepreneur, and mentor to numerous local and foreign companies and executives. I have also held executive and non-executive director roles in various business sectors, including healthcare, financial services, technology, education, property, and manufacturing. Having co-founded Netcare, I also served as its Executive Chairman for 12 years and thereafter as non-executive Chairman and Director. I presently serve as a non-executive Chairman of Capital Appreciation and GovChat Proprietary Limited.

How we do what we do

Investors Shaping Impact Investing

“If you’re going to live, leave a legacy. Make a mark on the world that can’t be erased.” – Maya Angelou.

Our investment practices go beyond the financial bottom line; they are also shaped by our inherent value of investing with a conscience. Beginning a legacy is about shaping and directing investor capital to be impactful to our environment and community – this is what we mean by “shaping impact investing”. We believe that it is not just about what we do, but why we do it.

Various characteristics and principles shape who we are and what we do:

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We have strong empowerment credentials.

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We have a credible and experienced investment team.

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We have well-established networks for deal origination.

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We are committed to mutually beneficial partnerships.

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We bring tangible value-adds to investees.

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Our robust and disciplined investment processes are underpinned by a strong ESG proposition.

Shaping Investee Companies

Investee Companies Shaped by Impact Investing

 

In partnership with our investee companies, over the years we have continued to ensure that we strike an appropriate equilibrium between bolstering investor value, and upholding and committing to socio-economic prosperity and the transformation of the communities in which we operate. We have developed an employee value proposition that has been designed to both attract and retain highly skilled people. To date, we employ an estimated 650 employees (June 2022) in our growing investee portfolio, which demonstrates another way in which we have used investor capital to create an impact.

Investment Criteria

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Minimum EBITDA of R20 million

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Track record of growth in turnover and EBITDA

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Diversified customer base

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Positive free cash generation

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Strong growth potential

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Capable and passionate management teams

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High barriers to entry with well-established brands