CEO Mary Bomela discusses MIC's current health and plans for the next 20 years

The Money Show’s Bruce Whitfield interviewed Mineworkers Investment Company CEO Mary Bomela and former CEO Clifford Elk about the business today and strategy for the future.

Watch Bomela and Elk's in studio with Bruce Whitfield below:

Here’s a summary of some of the topics they covered:

  • Surviving three market crashes (late 90s, early 2000s, 2008) and the lessons they learned

  • Key successes (e.g. Radio Highveld bid; entry into Primedia; BPSA investment; Tracker, etc.)

  • Milestones (e.g. Primedia and Peermont LBOs)

  • Hard lessons learnt (Mathomo; post 2008 leverage structures; etc.)

  • Value creation and MIC’s long term view (e.g. FirstRand/FRET transaction, consolidation of holdings, Metrofile de-gearing, etc.)

  • Partnerships with other investors and BEE partners

  • The secondary BEE market, deals and opportunities

  • The state of the BEE “market” in South Africa currently as well as challenges and opportunities

  • What the future holds for MIC/its strategy going forward

  • Black financial investors versus operators

  • Black industrialist programme

  • What the codes’ impact has been on the sector

  • The future of the new codes

Subscribe to our Business Wrap Newsletter

Disclaimer: The Mining Investment Corporation is a Primedia Broadcasting shareholder.


This article first appeared on 702 : CEO Mary Bomela discusses MIC's current health and plans for the next 20 years


Recommended

by NEWSROOM AI
Read More
Taxpayer? Got R3 billion? The EFF wants you to save the gutted VBS Mutual Bank

Taxpayer? Got R3 billion? The EFF wants you to save the gutted VBS Mutual Bank

A better option to serve black interests, says Warren Thompson, is Patrice Motsepe’s TymeDigital. It won’t cost taxpayers a cent.

Punch-drunk taxpayer? What Minister Tito Mboweni has up his sleeve for us all

Punch-drunk taxpayer? What Minister Tito Mboweni has up his sleeve for us all

Punch-drunk taxpayer? Bonang Mohale (BLSA) and Russel Lamberti (Econometrix) on what Minister Tito Mboweni has up his sleeve.

[Watch] Chinese SUV maker Haval has advertising far worse than its cars

[Watch] Chinese SUV maker Haval has advertising far worse than its cars

Advertising expert Andy Rice slams the ever-improving Chinese SUV maker for its cheap and nasty advertising.

My milkshake brings all the boys to the yard! - Nando's

My milkshake brings all the boys to the yard! - Nando's

Damn right its better than yours! Ad guru Andy Rice loves Nando’s epic new billboard promoting its delicious looking milkshakes.

2 red-hot JSE-listed shares to buy, right now (by Ashburton)

2 red-hot JSE-listed shares to buy, right now (by Ashburton)

The Money Show’s Bruce Whitfield interviews Suvasha Kander, a Fund Manager at Ashburton.

Empowerment pioneer MIC celebrates 20 years

Empowerment pioneer MIC celebrates 20 years

The Mineworkers Investment Company, a major shareholder in Primedia Broadcasting, is celebrating 20 years in business this year.

Popular articles
[WATCH] Can you do the Thuso Phala and Vosho as well as this little boy?

[WATCH] Can you do the Thuso Phala and Vosho as well as this little boy?

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Cape Town loses millions in public transport strikes and damages

Cape Town loses millions in public transport strikes and damages

Current strikes and damage to infrastructure have a negative impact on business in the city where people rely on public transport.

Vavi disputes government's claim of exorbitant salary bill

Vavi disputes government's claim of exorbitant salary bill

Saftu secretary general Zwelinzima Vavi says minister's figures are wrong and another way to limit poor from getting services.

'I’ve never invested in the stock exchange. I know it too well'

'I’ve never invested in the stock exchange. I know it too well'

Bruce Whitfield interviews Prof Lorenzo Fioramonti (UP) about his attitude toward money (hopes, fears, successes, failures, etc.).

CT council to decide on charging De Lille following new forensic report

CT council to decide on charging De Lille following new forensic report

The Bowman Gilfillan report, yet to be made public, found that De Lille allegedly failed to report tender corruption to council.

Judge in Omotoso case dismisses defence application to recuse himself

Judge in Omotoso case dismisses defence application to recuse himself

Judge Mandela Makaula has dismissed the defence application saying it has no merit.