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

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Where should government invest with small businesses?

Where should government invest with small businesses?

The Money Show’s Bruce Whitfield interviews Allon Raiz, CEO at Raiz Corp on government focus with small businesses.

Waiting for the Ramaphosa rise – where is the stock market growth?

Waiting for the Ramaphosa rise – where is the stock market growth?

The Money Show’s Bruce Whitfield interviews Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital.

Pick n Pay's turnover for the year is around R82 billion

Pick n Pay's turnover for the year is around R82 billion

The Money Show’s Bruce Whitfield interviews Richard Brasher CEO at Pick n Pay on its growth.

Nene: SA needs a lot of structural reform to capitalise on global growth

Nene: SA needs a lot of structural reform to capitalise on global growth

The Money Show’s Bruce Whitfield interviews Finance Minister at Treasury Nhlanhla Nene on the IMF and World Bank Group meetings.

Get the best bits of ‘The Money Show’ emailed to you daily, right after it ends

Get the best bits of ‘The Money Show’ emailed to you daily, right after it ends

Do you enjoy listening to Bruce Whitfield’s The Money Show, but miss it sometimes?

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
Why many couples today are struggling with marriage

Why many couples today are struggling with marriage

Dr Eve advises that many modern couples need marriage to be a safe space for self-expression and self-actualisation.

'The NPA should be ready and re-enroll the matter' - Nel on Malema prosecution

'The NPA should be ready and re-enroll the matter' - Nel on Malema prosecution

AfriForum not backing down over decision to privately prosecute Julius Malema.

'They shot out the tyres and they shot the victim'

'They shot out the tyres and they shot the victim'

EWN's Mandy Weiner describes an eyewitness account of one of the two shootings on Johannesburg's highways on Wednesday.

Cape Town not out the woods yet even with recent rainfall

Cape Town not out the woods yet even with recent rainfall

Climate expert, Piotr Wolski, says the city will know towards the end of May whether 2018 is a good or bad year.

Where is Zuma going to get this 'tsunami' of legal fees?  - Karyn Maughan

Where is Zuma going to get this 'tsunami' of legal fees? - Karyn Maughan

The Presidency has now officially withdrawn its application for leave to appeal the personal costs order against Jacob Zuma.

Water to be released from Berg River to Misverstand Dam to avoid Day Zero

Water to be released from Berg River to Misverstand Dam to avoid Day Zero

Government has put plans in place to prevent the Misverstand Dam from running dry in a week's time.

Highly-criticised world athletics body's rule could end Caster Semenya's career

Highly-criticised world athletics body's rule could end Caster Semenya's career

She faces ongoing complaints from rivals about having an "unfair advantage" on the track, but how fair is this proposed IAAF rule?