SAVCA appoints two new board members amid industry growth

04 October 2019 The Southern African Venture Capital and Private Equity Association (SAVCA)
Fulu Makwetla

Fulu Makwetla

Kabelo Moja

Kabelo Moja

Samantha Pokroy

Samantha Pokroy

The Southern African Venture Capital and Private Equity Association (SAVCA) – the industry body for the private equity and venture capital industry in Southern Africa – has welcomed two new directors and reappointed one existing director to its board, following the SAVCA Annual General Meeting (AGM) held on 2 October 2019 in Johannesburg.

New appointees include Fulu Makwetla, Founding Partner and Managing Director of Third Way Investment Partners, and Kabelo Moja, Managing Director of Ascension Capital Partners (Pty) Ltd, with Samantha Pokroy, founder and CEO of Sanari Capital, being reappointed.

SAVCA CEO, Tanya van Lill says that these well-respected and leading industry professionals have been appointed to continue driving the association’s strategic objectives forward amid a period of impressive industry expansion.

“The new board appointments complement a board that already comprises of individuals with extensive industry and business experience that are uniquely positioned to contribute positively to the industry and country at large, ensuring the association fulfils its strategic objectives.”

As noted by the recent SAVCA 2019 Private Equity Industry Survey, South African private equity exhibited a considerable increase in investment activity in 2018, with the value of new investments and follow-on investments reaching a record-high of R35.4 billion, compared to an annual average of R15.2 billion over the preceding 10 years.

Similarly, the SAVCA 2019 Venture Capital Industry Survey reported robust industry growth in 2018, with 181 new Venture Capital deals reported – an increase of 13.8% from the 159 deals reported in 2017. This also shows a substantial increase in the overall value of all deals, up from the R1 billion invested in 2017 to just over R1.5 billion in 2018.

“This industry growth bodes well for future economic growth on a national level,” says van Lill, who notes the important role that the industry plays in South Africa’s broader economic environment. “A thriving private equity and venture capital industry is crucial for South Africa in order to accelerate economic recovery and positively impact job creation.”

Returning to the outcomes of the recent AGM, van Lill says that the SAVCA board is sadly bidding farewell to two distinguished directors: Lungile Mdluli, who served as Treasurer and Chairperson of the Fiscal Committee from 2015, and Juan Coetzer, who joined the SAVCA Board in 2017 and served on the Research and Membership Committees.

“Through their varied roles, Lungile and Juan contributed significantly to the success of our organisation by dedicating an invaluable amount of their time and wisdom. We would like to thank them for their service and continued role in shaping the future of the industry,” van Lill concludes.

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