News & Insights

Asset manager points to worrying signs for emerging markets

Commenting on the local market impact of the Trump electoral victory in the US, Mergence Head: Equities, Peter Takaendesa, noted that if Trump’s policies are implemented, the external environment would not be of much help to SA’s economic recovery – making self-help economic reforms more important. If SA could resolve key structural issues and boost business confidence, this together with a Fed that is likely to continue trimming interest rates could stabilise the rand. This could potentially lead to ratings agencies and related capital flows turning in SA’s favour.

Sanlei Trout breaks into US market

The well-respected Public Eye weekly newspaper in Lesotho ran their cover story on the success of Sanlei Premium Trout and its recent breakthrough into the US export market. Mergence Investment Managers (Lesotho) has a 100% private equity stake in this unique aquaculture project which continues to have a positive ESG impact on the Lesotho market and Basotho communities.

CASE ALERT: Competition Tribunal prohibits Vodacom/Maziv merger

Commenting on the Competition Tribunal’s ruling to disallow the Vodacom/Maziv merger, Peter Takaendesa, Head: Equities at Mergence Investment Managers, said that the prohibition will have implications for other market consolidation transactions that were waiting for the outcome of this case. It is quite likely that Vodacom will deploy more of its capital outside South Africa or prioritise repaying debt should it not win the case on appeal. Regarding the wider trend, both Vodacom and MTN have realised that it may be too late to build large national fibre networks of their own and are therefore looking to buy minority stakes in existing fibre network operators to optimise capital expenditure and share infrastructure.

Prosus eyes surge in trading profit to R7bn for 2025

Commenting on the guidance provided by the new Prosus CEO, Peter Takaendesa, Head: Equities at Mergence Investment Managers, said on News24 that the Mergence view remains that a combination of sustained profitability improvement in all non-Tencent operations of Prosus, open-ended share buybacks continuation and disciplined capital allocation going forward will be very strong drivers of closing the discount to NAV at both Prosus and Naspers.

Broker’s notes: Buy Motus, sell retailers

In Financial Mail, Peter Takaendesa, Head: Equities at Mergence Investment Managers, gives the Mergence long-term outlook on various stocks. He unpacks the merits of investing in Motus (the diversified business in the automotive sector) and suggests that that a long position in Motus could be paired with a short in one of the retailers where the sector has already rerated sharply.

Can Canal+ turn the tide on MultiChoice subscriber exodus?

Peter Takaendesa, Head of Equities at Mergence Investment Managers, comments in Mail & Guardian on the matter. He notes that the jury is still out on whether Canal+ will get good value out of MultiChoice. Additionally, MultiChoice’s efforts to cut costs—such as streamlining content and reducing decoder subsidies—are akin to “running fast to remain in one spot.”

The intricacies of raising renewable energy finance

The intricacies of raising infrastructure finance. In the 2024 Mining & Energy Handbook produced by The Brief in Namibia, Hileni Nghinaunye, Portfolio Manager at Mergence Unlisted Investment Managers (Namibia), writes about the sophistication and knowledge required to raise finance for renewable energy projects. Mergence is launching its Fund II on the back of the success of Fund I, which will continue to invest in the renewables sector through practical private funding options. By boosting the energy security of Namibia, we are both contributing to the national economy and helping to uplift communities.

Undercurrents – SA’s water infrastructure is crumbling fast. Can it be fixed?

In the annual Business Day “Earth” publication, various critical environmental issues are addressed, including water in South Africa. Pointing to a potential holistic, long-term solution, Kasief Isaacs, Head: Private Markets at Mergence Investment Managers, discusses Mergence’s investment in two private water concessions via a Public Private Partnership, which have had a remarkable impact both on the communities served, as well as the environment.

Capitec eyes global expansion through Avafin

Following Capitec’s results, Radebe Sipamla, senior investment analyst at Mergence Investment Managers, comments on the group’s aims to grow its international footprint after its investments in technology helped drive market share gains in its value-added service offering.

Beste kwartaal in 11 jr op JSE

SA aandele beleef hul sterkste derde kwartaal in 11 jaar, en beleggers sien die winste groei. Die FTSE/JSE Afrika-indeks van alle aandele het oor die drie maande met sowat 10% gestyg, wat 13 rekord-sluitingshoogtes in die proses behaal het en ‘n styging in MSCI se maatstaf van opkomende markte-aandele oortref. Peter Takaendesa, Hoof: Aandele by Mergence Investment Managers, sê dat die begin van die wêreldwye rentekoersverlagingsiklus ‘n welkome verligting is en dat Mergence steeds goeie waardasieondersteuning vir ‘n aantal maatskappye van hoë gehalte vind.

Capped SWIX Fund
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CPI + 4% Prime Fund (Unit Trust)
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Domestic CPI +4% Fund
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Equity Prime Fund (Unit Trust)
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Global Balanced Fund
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Infra & Dev | Bond Composite
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Money Market Prime Fund (Unit Trust)
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SWIX Fund
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Infra & Dev | Bond Composite
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Infra & Dev | Debt Fund
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Infra & Dev | Equity Funds
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Renewable Energy Debt Fund
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The Fed’s Dot Plot (June 14, 2024)
An update on the USDZAR (February 29, 2024)
Fallen Angel Investors (January 29, 2024)
The outlook for IPOs in 2024 (January 11, 2024)
Year-to-date equity performance (December 14, 2023)
Reporting Inflation (November 17, 2023)
Good employer = Good stock? (November 9, 2023)
The opportunity in SA Bonds (October 19, 2023)
Is the oil price too high? (September 21, 2023)
SA vs US short term rates (August 31, 2023)
Wall Street vs. Hauptstraße (August 28, 2023)
The ART of buyback (July 6, 2023)
The Yen vs the Rand (May 25, 2023)
Recession or not? (May 18, 2023)
Daily Maverick: Business Maverick’s 2024 stock
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Macro & Multi asset view (May 2023)
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Macro & Multi asset view (November 2022)
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Balanced Fund review (November 2022)
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Macro & Multi asset view (July 2022)
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Changes to Regulation 28 (July 2022)
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Macro & Multi asset view (February 2022)
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Macro & Multi asset view (October 2021)
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Macro & Multi asset view (July 2021)
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Macro & Multi asset view (June 2021)
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Macro & Multi asset view (April 2021)
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Impact Report (2023/24)
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Impact Report (2022/23)
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Impact Report (2021/22)
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Impact Report (2020/21)
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Impact Report (2018/19)
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Impact Report (2017/18)
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Impact Report (2014/15)
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It is our longstanding belief that companies cannot achieve sustainable economic success while neglecting their social and environmental responsibilities. Responsible investing forms an intrinsic part of our investment processes and supports our mission in creating sustainable shared value through delivering positive risk-adjusted returns for our clients while making a significant positive impact on society and the environment.

Engagement with companies and voting at shareholder meetings are both powerful tools that we have considered to be an essential part of our active management offering since the very beginning of our responsible investing journey. We were one of the first South African asset managers to make public its proxy voting decisions. Click here to view our historic proxy voting records.

CLICK HERE to view our historic proxy voting records.

We have been early supporters of initiatives guiding responsible investing, including:

  • Signatory to the United Nations supported Principles for Responsible Investment (PRI) since 2008
  • Supporter of the Code for Responsible Investing in South Africa (CRISA)
  • Signatory to the Climate Change 100+
  • Members of Carbon Disclosure project

Our investment processes deliberately include ESG considerations which are continually refined, updated and enhanced by the investment teams.

Our Public Markets team have an explicit ESG pillar and minimum ESG deliverables as part of their equity research process and portfolio construction. Similarly, the Private Markets team have an ESG management system which details how they incorporate ESG issues into the investment decision-making process with a view to mitigating overall portfolio risk, promoting sustainability, and generating positive impact. The system also spells out our ESG requirements of investee companies.

At Mergence, we believe in the power of People, Planet and Prosperity, acknowledging that making profits can only be justified if people and the planet are respected and preserved in the process. Our ethos of creating sustainable shared value is at the heart of our business. Making a positive impact on society, embracing diversity and inclusion, nurturing relationships, and encouraging an entrepreneurial spirit underpin our commitment to being a responsible employer.

As evaluated by an independent agency we currently hold a Level 1 BBBEE rating.

We offer a range of local and offshore investment strategies that meet the needs of retirement funds and individuals in Southern and Sub-Saharan Africa. We are dedicated to managing and growing our clients’ investments in a socially sustainable manner. Our clients are mainly institutional investors with a growing offering of retail investors.

ExploreDateFund Fact SheetTransactional Form
Capped SWIX FundSeptember 2024
Equity Prime Fund (Unit Trust)September 2024
SWIX FundSeptember 2024
ExploreDateFund Fact SheetTransactional Form
CPI + 4% Prime Fund (Unit Trust)September 2024
Domestic CPI +4% FundJuly 2024
Global Balanced FundJuly 2024
ExploreDateFund Fact SheetTransactional Form
Infra & Dev | Bond CompositeSeptember 2024
Money Market Prime Fund (Unit Trust)September 2024
ExploreDateFund Fact SheetTransactional Form
Infra & Dev | Bond CompositeSeptember 2024

Mergence was a pioneer in impact and infrastructure investing, with a rich history showcasing the advantages of uncorrelated alternative investments. We strongly advocate for the potential of these investments to deliver consistent long-term returns while making a positive social impact. Our diverse portfolio encompasses a wide range of debt and equity asset classes carefully chosen from sectors that global and national organisations have identified as high-priority areas.

ExploreDateFund Fact Sheet
Infra & Dev | Bond CompositeSeptember 2024
Infra & Dev | Debt FundJuly 2024
Infra & Dev | Equity FundsJuly 2024
ExploreDateFund Fact Sheet
Renewable Energy Debt FundJuly 2024
ExploreDateFund Fact Sheet
Infra & Dev | Bond CompositeSeptember 2024

Mergence is an independent asset management firm with a strong 18-year track record. We were founded in 2004 and have successfully grown our offering to a diverse product range across both public and private market investments, spanning specialist equity and fixed income, multi-asset, infrastructure, debt and private equity funds.

We are focused on sub-Saharan markets and led by a pragmatic, sustainable, shared value creation mindset. Responsible investing and ESG principles are part of our ethos and embedded across our investment processes.

Mergence is majority black-owned and managed and embraces the multi-cultural and multi-racial diversity of Southern Africa. We employ 58 people across our operations in Cape Town, Johannesburg, Windhoek, and Maseru.

At Mergence we value our people. Our culture is characterised by a collective focus on excellence and development, keeping our staff motivated and committed to growing with Mergence and growing our clients’ savings.

Our senior investment team have worked together for nearly a decade. With over 300 years of combined experience our entire team, including analysts and fund managers, have distinct specialisation in both Public and Private Markets. We leverage data and key elements from each area to widen our perspective and innovate to obtain outperformance.

Lizeka Matshekga

Non-Executive Director

B Com Hons (Finance)

Masters (Development Finance)

Lizeka Matshekga is currently the MD: Investments at Harith General Partners, a Pan African Infrastructure Financier and Developer. She joined Harith in 2020 having formerly been the Divisional Executive at the Industrial Development (IDC). She has over 26 years’ diverse financial services industry experience
of which 14 years spent in the development finance environment. Her experience covers asset management, treasury, investment banking and development finance at executive leadership level. She is a seasoned board member in several South African and Multinational companies including Mergence Investment Managers.

Sipho Makhubela

Non-Executive Director

CA(SA)

MBA

Advanced Management Programme (Harvard)

Sipho Makhubela is a seasoned investment professional with proven industry leadership and over 20 years of experience in financial services. Prior to joining Harith, he worked for Investec Bank, Coronation Capital and African Merchant Bank in South Africa, focusing on aircraft financing, plant and equipment financing, and various acquisition finance transactions. Sipho joined Harith in 2007 as an Investment Director and was soon promoted to head up the US$630 million Pan African Investment Development Fund 1. He later transitioned into the role of MD: Investments and was appointed CEO of Harith in September 2020. He has invested in and grown business across the continent in countries such as Nigeria, Ghana, Kenya, Cote d’Ivore, amongst others and across various sectors including ICT, Transport and Energy. He currently sits on the board of directors at Mergence Investment Managers.

Masimo Magerman

Non-Executive Chairman, Mergence Group

Bachelor of Management Science (Finance)

MBA (Finance)

Masimo co-founded Mergence Africa Holdings in 2004 with the vision to create a world-class diversified group. With R42 billion in assets under management, the group spans asset management, derivatives trading, property, and industrial holdings. The primary subsidiary is Mergence Investment Managers, with a dual capability across Public and Private investment markets. Masimo is an entrepreneur by nature and believes fervently in “creating shared value”.

Fabian de Beer

Chief Risk Officer

BCom (Accounting & Economics)

H.Dip.Ed

Fabian joined Mergence in 2006 with over 34 years’ experience in financial services, specialising in  investment and macro strategy. Fabian’s primary focus is on investment risk, compliance and regulatory matters across Public and Private markets. He serves on the Mergence Board as well as the in-country Boards where Mergence operates. He has held senior and executive management positions at major SA banks and retirement funds.

Maserame Mouyeme

Independent Non-executive Director

BSc

MBA

Maserame Mouyeme has 25 years’ experience Africa-wide in senior executive leadership roles, including at Coca Cola, Old Mutual and one of Africa’s largest advertising groups. Further, at the Board level, she has 20 years’ experience in the private, public and NGO sectors. Maserame is passionate about sustainability, branding, public affairs, change management, public policy and businesswomen development. She has qualifications from the University of Cape Town, University of West London, Harvard and Cambridge.

Nyonga Fofang

Independent Non-Executive Director

BA (Political Science)

Executive MBA

Nyonga Fofang, Independent Non-Executive Director at Mergence, has 25+ years of capital markets experience, specialising in private equity, M&A, leveraged finance, and general management. He co-founded and leads Bambili Group Investment Pty Ltd, a pan-African investment holding company. Nyonga also serves as a director at SourceTrace LLC in Boston. He began as a closed-end fund Equity Analyst at PaineWebber Inc. and holds degrees from Harvard University and UC Louvain.

Sholto Dolamo

Managing Director, Mergence Investment Managers

BSc (Chemistry)

BTech (Ceramic Science) 

MSc (Engineering)

MBA (Administration)

Sholto joined Mergence in July 2022. He has more than 15 years’ experience in financial services with a focus on strategic leadership, product innovation, and research across all asset classes in Public and Private markets. He held various senior roles at the Public Investment Corporation including Acting Chief Investment Officer. Before entering the financial services sector, Sholto pursued a specialised career in resources and precious metals.

Sholto Dolamo

Managing Director, Mergence Investment Managers

BSc (Chemistry)

BTech (Ceramic Science) 

MSc (Engineering)

MBA (Administration)

Sholto joined Mergence in July 2022. He has more than 15 years’ experience in financial services with a focus on strategic leadership, product innovation, and research across all asset classes in Public and Private markets. He held various senior roles at the Public Investment Corporation including Acting Chief Investment Officer. Before entering the financial services sector, Sholto pursued a specialised career in resources and precious metals.

Semoli Mokhanoi

Director: SADC, Head: Business Development & Marketing

BCom (Accounting)

BCom Hons (Financial Planning)

MBA (Strategy)

CFP®

General Tax Professional (GTP-SA)

Semoli joined Mergence in 2017 as Regional Investments Strategist. He has 20 years’ experience, including as a fund accountant, investment consultant and business development executive. With a strong network of contacts throughout the Southern African Development Community (SADC), he is also a non-executive director on several company boards.

Brad Preston

Chief Investment Officer

BSc (Mathematics & Statistics)

MSc (Financial Mathematics)

Brad joined Mergence soon after its inception in 2006. As an investment analyst, portfolio manager and former Joint MD at Mergence, he has experience in derivatives, absolute return, and specialist equities, as well as leadership. In 2021 he was appointed as Chief Investment Officer.

Karen Wagner

HR Executive

Diploma (HR Management & Training)

Karen joined Mergence in February 2014 as Office Manager. In December 2017, she was promoted to HR Manager. Karen has 27 years of experience in office management and finance, having worked at several large corporates before joining Mergence. In acknowledgement of the importance of our people, Karen was appointed to the executive committee of Mergence Investment Managers in October 2022.

John Afordofe

Chief Financial Officer

BCom (Accounting)

PGDip (Accounting)

CA(SA)

John joined Mergence in November 2018 as General Manager: Operations. He was promoted to Chief Operating Officer in 2019. In September 2021 his role at Mergence was specialised into Chief Financial Officer as part of high-level changes to the Mergence executive leadership team to meet the company’s strong growth.

Peter Takaendesa

Head: Equities

BCom Hons (Economics)

MCom (Economics)

MCom (Finance & Econometrics)

Peter joined Mergence in 2014 as a Senior Equity Investment Analyst specialising in the TMT sector. He became a portfolio manager in 2016 and head of the listed equities team in 2019. Peter has over 15 years’ experience in the financial services industry, having worked for several global investment banks. He won ABSIP equity analyst of the year in 2011 and has worked as a university lecturer in economics.

Izak Van Niekerk

Portfolio Manager

BAcc Hons

CA(SA)

Izak brings over 15 years of financial services experience to his role as Portfolio Manager at Mergence. He co-managed portfolios from November 2019 to December 2022, having joined the team in 2011 as an equity research analyst and dealer. His current focus encompasses resources, beverages, luxury goods, and healthcare. His background extends to being an investment committee member in private markets and an audit manager at PwC prior to joining Mergence.

Salome Maruma

Senior Investment Analyst

BCom Hons (Financial Management)

In 2023, Salome re-joined Mergence as a Senior Investment Analyst, having worked in the company in a trainee capacity before. With a focus on the retail and industrial sectors, Salome brings valuable experience from previous roles at local asset managers and a global investment bank over an eight-year career in the financial services industry.

Malose Mamashela

Investment Analyst

BCom (Financial Analysis & Portfolio Management)

MSc (Chemical Engineering)

Malose joined Mergence in 2022 as an Investment Analyst. With 20 years of experience, she has a solid background in chemical engineering and financial analysis. Malose previously worked as a process engineer at Sasol, Project Services Group, and Chevron. She also served as a sell-side equity research analyst at Primaresearch. Additionally, she has lectured in her field at the CPUT and provided consultation to 4th-year Design Course students at UCT.

Radebe Sipamla

Senior Investment Analyst

BCom (Economics Science & Business Finance)

Radebe joined Mergence in March 2021 as Investment Analyst in the Public Markets equity team based in Johannesburg. He currently covers banks, insurance, and other financials. With five years of experience, Radebe has in-depth sector knowledge across SADC, most notably in the banking, precious metals, and telecom sectors. In 2017 he won the ABSIP award for Research Analyst of the Year.

Keagan Martin

Investment Analyst

BCom Hons (Finance/Investments), BCom (Economics and Finance) 

Keagan Martin joined Mergence in 2021 as a Client Relationship Manager, following his experience at Prudential Investment Managers. In 2023, he transitioned into an Investment Analyst role in the public markets’ investment team, where he now specialises in small to mid-cap industrials and food producers. 

Mohamed Ismail

Head: Fixed Income

BSc (Actuarial Science & Mathematical Statistics)

BSc Hons (Advanced Mathematics of Finance)

Exec Masters (Finance)

CFA® Charterholder

Mohamed joined Mergence in March 2021 as Head of Fixed Income: Multi-Asset Class. He has 14 years of experience. Mohamed is responsible for a stand-alone fixed-income product and integrating a fixed-income investment process into the overall multi-asset strategy. He is the primary portfolio manager for the Mergence Composite Bond Fund and lead investment manager for the Money Market and Multi-Asset Income portfolios.

Fazila Manjoo

Portfolio Manager

BSc (Actuarial Science)

PGDip (Management in Actuarial Science)

Fazila joined Mergence in September 2020 as a Portfolio Manager in the Multi-Asset team. She has over 19 years of experience in the financial services industry, and a passion for research, technology, and sustainability. At Mergence, she is responsible for developing quantitative and systematic strategies across global equity, balanced and absolute return funds.

Unathi Hewana

Investment Analyst

BCom Hons (Financial Analysis & Portfolio Management)

BSc Hons (Biotechnology)

Unathi joined the Mergence Public Markets Investment team in July 2020 as an Investment Analyst in the Multi-Asset team. She has ten years of asset management experience and is completing her BCom Master’s degree in Applied Finance at UCT. Her primary focus at Mergence is a top-down and bottom-up analysis of the South African property sector.

Thabiso Mgwambane

Investment Graduate

BSc Hons (Physics)

Thabiso Mgwambane joined the Mergence Public Markets Investment team in July 2023 as an Investment graduate. With a BSc Honors degree in Physics and currently pursuing a Master’s degree in Astrophysical Sciences, he brings advanced computational and mathematical programming skills, as well as proficiency in analytical and quantitative methodologies.

Morgan Mlambo

Head: Investment Risk & Analytics

BSc (Mathematics & Statistics)

BSc Hons (Mathematics of Finance)

Financial Risk Manager (FRM)

MBA

Morgan joined Mergence in 2018. He has over 15 years of experience in the financial services industry. At Mergence, he has oversight on the generation and monitoring of investment risk metrics for Mergence portfolios including performance metrics, market risk, etc. In addition, he also has oversight on the compliance function pertaining to the Public Markets portfolios.

Jeandre van Jaarsveldt

Investment Analyst: Investment Risk & Analytics

BCom (Economics, Risk, and Investment Management)

Jeandre joined Mergence in 2023 as an Investment Risk & Analytics analyst, bringing three years of industry experience. Notably, he honed his analytical skills and became the youngest team leader at Burgiss during his tenure as a Private Equity Data Analyst. His strength lies in working with databases and excelling at identifying errors and outliers through data manipulation.

Nicolai De Greef

Trader

BCom (Finance & Investment Management)

Nicolai joined Mergence 2019 as a Trader. He has 14 years of experience in financial services, both in London and Cape Town, including in equity dealing, client relationship management, hedge fund administration, and fund accounting. At Mergence, Nicolai is responsible for executing equity trades for the Public Markets team as well as managing broker relationships.

Kasief Isaacs

Head: Private Markets

BCom Hons

CA(SA)

Kasief joined Mergence in 2015. He has 17 years of experience in the financial services industry. As Senior Investment Principal he has a specific focus on energy, infrastructure, and impact within SA and SADC. He leads the Private Markets investment team which has built up a stellar performance record over the past decade. Kasief has prior extensive international and local experience in SA’s renewable energy market. He is an experienced conference speaker and media commentator.

Chito Siame

Investment Principal

BSc Hons

MCom (Financial Management)

ACCA

Chito joined Mergence in 2011 as Equity Analyst in the Public Markets team focused on FMCG, hospitality, financial services, and telecommunications before transitioning to the Private Markets investment team in 2015. As Investment Principal, Chito focuses on Private Market investment opportunities within SADC. He has led transactions in the aquaculture and microfinancing sectors and serves on the boards of several investee companies.

Mosa Molebatsi

Senior Investment Associate

BCom (Actuarial Science, Quantitative Finance)

BCom Hons (Finance)

MPhil (Development Finance)

CFA® Charterholder

Mosa joined Mergence in 2023 as a Senior Investment Associate in the Private Markets team. Previously, she worked at the International Finance Corporation, the Public Investment Corporation, and Momentum Metropolitan Holdings in various investment roles. She is also involved in lecturing and foundation trustee work.

Tshepiso Appie

Investment Associate

BBusSci Hons

Tshepiso is an Investment Associate at Mergence Investment Managers. He joined the Johannesburg team in 2018 after a 3-year tenure in the middle-markets private equity team of a listed, blue-chip asset manager. With a diverse range of expertise, Tshepiso has successfully facilitated deals across multiple sectors at Mergence, including affordable housing, medicinal cannabis, primary healthcare, agri-finance, specialised healthcare, waste management, secondary mining, student accommodation, financial inclusion, and fintech.

Rizaan Samuels

Investment Associate

BSc (Finance & Accounts)

PGDip (Accounting)

CA(SA)

Rizaan joined Mergence in 2022 as an Investment Associate. He is a trained investment professional with extensive post-qualification experience in investment banking, asset management, and renewable energy debt investment. He is responsible for the origination and execution of deals in the SADC region for Mergence’s Equity and Debt funds, with a focus on infrastructure finance, renewable energy, and other clean energy investment opportunities.

Hileni Nghinaunye

Portfolio Manager

BBusSc

PGDip (Investment & Portfolio Management)

Hileni joined Mergence Unlisted Investment Managers (Namibia) as a Portfolio Manager in 2017. She has 15 years of experience in financial services. At Mergence she has transacted on and overseen infrastructure and impact investments on behalf of Namibia’s largest retirement fund, including three renewable energy projects, and a bulk infrastructure/land servicing project.

Linkeng Debra Letsaba

Trainee Investment Analyst

BCom (Investment Management & Banking)

BCom Hons (Financial Economics & Investment Management)

Linkeng joined Mergence Investment Managers (Lesotho) in 2022 as a Trainee Investment Analyst as part of our bigger Private Markets investment team. Her role encompasses assisting with the origination of opportunities and guiding them through the investment process, to implementation. Linkeng has team leadership skills, having been an SRC exco member at university.

Ntsbeng Chabeli

Property Analyst

BA (Economics)

PGDip (Property Management & Development)

MCom (Finance & Investments)

Ntsebeng joined Mergence Investment Managers (Lesotho) as a Property Analyst in 2022. She has five years of experience, including time spent as a real estate specialist and data analyst. Her responsibilities at Mergence include analysing the economic drivers of the commercial property portfolio and assessing the financial opportunity for existing and potential property investments.

Nandipha Kenqa

Risk Manager

BCom (Financial Accounting)

PGDip (Accounting)

CA(SA)

Nandipha joined Mergence as a Risk Manager in the Private Markets investment team in June 2017. She has six years of experience working as an external and internal investment auditor. Nandipha’s responsibilities at Mergence include ensuring that governance, risk, and control frameworks are effective and that all investment activities, across all markets, sectors, and deals, are in accordance with applicable legislation, regulation, and client mandates.

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Lizeka Matshekga

Non-Executive Director
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Sipho Makhubela

Non-Executive Director
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Masimo Magerman

Non-Executive Chairman, Mergence Group
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Fabian de Beer

Chief Risk Officer
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Maserame Mouyeme

Independent Non-executive Director
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Nyonga Fofang

Independent Non-Executive Director
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Sholto Dolamo

Managing Director, Mergence Investment Managers
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Sholto Dolamo

Managing Director, Mergence Investment Managers
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Semoli Mokhanoi

Director: SADC, Head: Business Development & Marketing
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Brad Preston

Chief Investment Officer
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Karen Wagner

HR Executive
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John Afordofe

Chief Financial Officer
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Peter Takaendesa

Head: Equities
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Izak Van Niekerk

Portfolio Manager
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Salome Maruma

Senior Investment Analyst
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Malose Mamashela

Investment Analyst
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Radebe Sipamla

Senior Investment Analyst
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Keagan Martin

Investment Analyst
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Mohamed Ismail

Head: Fixed Income
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Fazila Manjoo

Portfolio Manager
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Unathi Hewana

Investment Analyst
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Thabiso Mgwambane

Investment Graduate
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Morgan Mlambo

Head: Investment Risk & Analytics
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Jeandre van Jaarsveldt

Investment Analyst: Investment Risk & Analytics
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Nicolai De Greef

Trader
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Kasief Isaacs

Head: Private Markets
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Chito Siame

Investment Principal
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Mosa Molebatsi

Senior Investment Associate
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Tshepiso Appie

Investment Associate
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Rizaan Samuels

Investment Associate
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Hileni Nghinaunye

Portfolio Manager
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Linkeng Debra Letsaba

Trainee Investment Analyst
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Ntsbeng Chabeli

Property Analyst
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Nandipha Kenqa

Risk Manager