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
Why businesses stop growing (a lesson for entrepreneurs)

Why businesses stop growing (a lesson for entrepreneurs)

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.

How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.

‘Budgeting’ for people who don’t budget (and probably never will)

‘Budgeting’ for people who don’t budget (and probably never will)

A simple savings plan for people who don’t like to budget. Bruce Whitfield interviews personal finance guru Warren Ingram.

[LISTEN] 'Our fight with Sars concerns R 217 million' - Christo Wiese

[LISTEN] 'Our fight with Sars concerns R 217 million' - Christo Wiese

The South African billionaire has responded to reports placing him at the centre of an alleged tax evasion scheme.

Pay back what you dodged in taxes, Christo Wiese! – Sars

Pay back what you dodged in taxes, Christo Wiese! – Sars

He's been implicated in an elaborate tax-dodging scheme, says amaBhungane’s Craig McKune.

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
Hermanus resident says that violent housing protests could've been avoided

Hermanus resident says that violent housing protests could've been avoided

It’s easy to blame a small bunch of thugs but I really don’t think that’s the case – Vanessa, Hermanus resident

Naked Scientist: How much water is too much for your body a day?

Naked Scientist: How much water is too much for your body a day?

Chris Smith explains why you need to replace what you are losing and how too much water can pose some health risks.

[LISTEN] Zille responds to Lindiwe Mazibuko comments that she undermined her

[LISTEN] Zille responds to Lindiwe Mazibuko comments that she undermined her

Helen Zille responds to alleged comments made by Lindiwe Mazibuko at a dinner, saying she's doing the same to Musi Maimane.

[WATCH] Melania Trump's reaction after shaking Putin's hand

[WATCH] Melania Trump's reaction after shaking Putin's hand

Waitress praised for standing up for herself after a man touched her butt on his way to the toilet and a dog comforts its owner.

Parents no longer have to travel with children's birth certificates

Parents no longer have to travel with children's birth certificates

The new Home Affairs upgrades to the system include printing parents details at the back of the child's passport.

Tell me what you want: Study reveals most common sexual fantasies

Tell me what you want: Study reveals most common sexual fantasies

What are your sexual fantasies? Disclosure can bring sexual freedom, but it can also have downsides. A study lists the top trends.