R1.5bn energy fund set up to help women-owned companies produce electricity

The fund, announced on Wednesday, seeks to invest in businesses and energy projects.

FILE: The aim is to change the energy landscape by supporting players in the renewable energy independent power producer procurement programme. Picture: 123rf.com

JOHANNESBURG - Mahlako Financial Services said its R1.5 billion energy fund would help black and women-owned companies to generate electricity and get jobs in the energy value chain.

The fund, announced on Wednesday, seeks to invest in businesses and energy projects.

The aim is to change the energy landscape by supporting players in the Renewable Energy Independent Power Producer Procurement Programme.

Mahlako director Makole Mupita said the fund, which is 100% black women-owned and managed, would make equity and quasi-equity related investments in the energy space.

“It is critical for the majority of the people to play in the energy value chain and to take part in energy opportunities.”

She said the fund would put its capital at risk to co-invest alongside other major sector investors in meeting the country’s energy demand gap.

“In every procurement programme or to build power stations, we are passionate that a certain percentage should be for black business.”

Mupita and her sister Meta Mhlarhi named the company after their mother Mahlako Maponya who was a business pioneer.

The team has already managed over R4 billion in funds and now wants to see black participants, especially women, as key players in the sector.

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