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

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


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