Mahlako Financial Services, a subsidiary of the Black-owned and female owned financial services group, Mahlako a Phahla Investments, has launched its maiden R1,5 billion energy fund. The fund seeks to invest in businesses and energy projects with great growth potential along the entire value chain. The fund will particularly focus on investing in projects in the renewable energy sector.
“This Fund is the first of its kind – a 100% black women owned energy fund with a mandate that expands beyond Renewable Energy, to include Gas and Energy Services sectors,” says Mahlako co-founder Makole Mupita.
We endeavour to tackle, disrupt and transform South Africa’s energy sectorMakole Mupita Mahlako co-founder
Mahlako already has investments in renewable energy, with stakes in IPP projects in Round 1 and Round 2 of South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REI4P). The company hopes its fund will assist in changing the energy landscape to be more inclusive, and see black participants, especially women as key players in the sector.
“Growth takes energy, transforming our world to a more prosperous, sustainable, and inclusive one will take not just the energy generated from solar, gas, hydro and geothermal sources, but the energy of individuals who are dedicated to it,” says Mupita.
Investing in South Africa’s energy recovery
Mahlako Financial Services emphasised that sustainable investments are at the core of their focus, the group intends to support the South African energy sector’s recovery. The company describes itself as an investor in developmental infrastructure assets that help transform South Africa’s economy while also providing innovative and insightful solutions to clients.
“We back our portfolio companies holistically. Aside from our expertise, we will leverage our network to offer access to a strategic network of resources and future funding partners, to best support businesses contributing to the energy transition,” said Meta Mhlarhi, one of the co-founders.
The company recently concluded a flagship energy wheeling project with Amazon Web Services, taking up a 45% stake in the project. The project is being developed by Cape Town based renewable energy company SOLA.
Mahlako Financial Services is co-owned by sisters, Makole Mupita and Meta Mhlarhi, born into the entrepreneurial Maponya family. The company was named after their mother, Mahlako Maponya.