Archives: People

Karen Wagner

Staff Karen

Karen joined Mergence in February 2014 as Office Manager. In December 2017, she was promoted to HR Manager. Karen has 27 years of experience in office management and finance, having worked at several large corporates before joining Mergence. In acknowledgement of the importance of our people, Karen was appointed to the executive committee of Mergence […]

Morgan Mlambo

Staff Morgan

Morgan joined Mergence in 2018. He has over 15 years of experience in the financial services industry. At Mergence, he has oversight on the generation and monitoring of investment risk metrics for Mergence portfolios including performance metrics, market risk, etc. In addition, he also has oversight on the compliance function pertaining to the Public Markets […]

Chitongwa Siame

Staff Chito

Chito joined Mergence in 2011 as an equity analyst in the public markets’ investment team focused on FMCG, hospitality, financial services, and telecommunications before transitioning to the private markets investment team in 2015. As Investment Principal, Chito focuses on private market investment opportunities within SADC. He has led transactions in the aquaculture and microfinance sectors […]

Linkeng Letsaba

Staff Linkeng

Linkeng joined Mergence Investment Managers (Lesotho) in 2022 as a trainee analyst, where she supports the investment analyst team within private markets. Her role encompasses assisting with the origination of opportunities and guiding them through the investment process to implementation. Linkeng has team leadership skills, having been an SRC exco member at university.

Ntsbeng Chabeli

Staff Chabelo 410x600 1

Ntsebeng joined Mergence Investment Managers (Lesotho) as a Property Analyst in 2022. She has five years of experience, including time spent as a real estate specialist and data analyst. Her responsibilities at Mergence include analysing the economic drivers of the commercial property portfolio and assessing the financial opportunity for existing and potential property investments.

Ntsiki Ndzima

Staff Ntsiki 410x600 1

Ntsiki joined the Mergence Business Development team in 2017. Her previous work experience was as an accountant. Ntiski completed her five-year SAICA (South African Institute of Chartered Accountants) articles with Rabie Deysel Inc, where she gained extensive experience in financial accounting, auditing, and tax.

mergence logo

For our latest company News & Insights, please visit our Mergence Investment Managers website.

Ejuva-One-and-Ejuva-Two-Solar-Plants

Ejuva One and Ejuva Two Solar Plants, Gobabis

Mergence provided equity and debt financing for two adjacent solar power plants with a combined output of 10 megawatts (MW), which reached Commercial Operation Date in August 2018 as part of the Namibia Feed-in Tariff (REFIT) programme.

The programme was initiated by Nampower and the Electricity Control Board to establish Independent Power Producers in Namibia. The Ejuva projects are backed by a 25-year Power Purchase Agreement with Nampower and feed an estimated 25.8 GWh (gigawatt hours) per year into Namibia’s national grid.

In addition to a 66% equity stake in each project, Mergence advances loans to finance the equity position of local shareholders in both Ejuva plants.

Momentous-Solar-One

Momentous Solar One, Keetmanshoop

In June 2020 Mergence purchased a majority stake in the 6MWp MSO energy plant near Keetmanshoop from Canadian Solar, one of the world’s largest solar power companies.

In line with twin projects and in support of the localisation of the solar industry for Namibians, Mergence ensured that there was full and equal participation for a local counterparty. The project will provide CPI-linked solar power generation revenue for 25 years under the REFIT programme, generating approximately 14,800 MWh of clean energy each year. The project further illustrates enhanced corporate governance in investee companies by Mergence.

The positive impact of this project:

Through our renewable energy investment portfolio and similar pipeline projects, Mergence strives to create shared and sustainable value by actively pursuing:

  • Positive impact of its projects and investments
  • Diversification of Namibia’s energy mix and contributing to increased generation capacity in the country
  • Local ownership of the asset, with long-term expected cashflows solutions for pension funds
  • Reduction of carbon emissions by supporting the production of green, emission-free electricity
  • Promotion of employment and skills development during the construction and operation of projects
  • Demonstration of the positive effects of solar development in Namibia and neighbouring countries
PPH-Auasblick

PPH Auasblick, Windhoek

Mergence provided mezzanine funding of 46% bulk infrastructure development (land servicing of 106 erven, Phase 1) in Auasblick Extension 1, under a Public Partnership Agreement with the City of Windhoek and Sinco Investments, trading as PPH Auasblick. The PPP was initiated to help address the need for affordable housing and deliver 106 erven to the City of Windhoek. The township will comprise single and general residential erven, public open spaces, and institutional land.

The positive impact of this project:
Generating positive social impact along with CoW on PPP initiatives and building innovative partnerships that lead to access to affordable land and the creation of jobs.
Meeting the need for basic services such as residential houses, health care, schools, recreational facilities, sustainable development, and shopping areas.

We have proudly spearheaded numerous successful renewable energy projects and bulk infrastructure PPP initiatives within our inaugural fund, an infrastructure equity-focused fund.

Below is a snapshot of some of our portfolio companies:

Ejuva One and Ejuva Two Solar Plants, Gobabis
namibia map
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  • Location: Gobabis, Namibia
  • Status: Active
  • Instrument: Mezz
  • Sector: Renewable Energy
Momentous Solar One, Keetmanshoop
namibia map
map pin
  • Location: Keetmanshoop, Namibia
  • Status: Active
  • Instrument: Mezz
  • Sector: Renewable Energy
PPH Auasblick, Windhoek
namibia map
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  • Location: Windhoek, Namibia
  • Status: Active
  • Instrument: Mezz
  • Sector: Bulk Infrastructure

After the success of our inaugural unlisted fund in Namibia, which is now fully invested, Mergence Namibia has launched the Mergence Real Asset Fund. This fund is open to investors, and we aim to create sustainable shared value within the following Namibian sectors:

Digital
infreastructure

Affordable
housing

Student
accomodation

Healthcare

Ndelitungapo Omotuli Shiluwa Marino

Ndelitungapo Omotuli Shiluwa-Marino

Executive Director

BTech Human Resources Management

Katchina Shiluwa-Marino, known as Ms. Shiluwa-Marino, is an entrepreneur and Executive Director with a Bachelor’s Technikon Degree in Human Resources. She began in Namibia’s fishing industry before co-managing a human resources consulting firm for nearly two decades. Beyond her ventures, she advises, directs, and invests in various industries. Committed to education’s role in national development, she champions skills development and supports a kindergarten/primary school she helped establish privately, embodying her dedication to Namibia’s growth.

Namibia-Tobias

Tobias Junior Katjire

Executive Director: Finance

BCom

Tobias Junior Katjire joined Mergence Unlisted Investment Managers (Namibia) (Mergence Namibia) in May 2017 and serves as Executive Director: Finance. In this role, he is responsible for the finance function in Namibia, including financial management and reporting, budgeting and forecasting, cash and liquidity management, strengthening financial controls and governance processes, and supporting the operational and commercial requirements of the business. He is an experienced accountant who completed his articles with BDO Namibia in 2006 and later held finance leadership roles at a large Namibian state-owned enterprise, including General Manager: Finance, Administration and IT. In 2012, he established his own consultancy, advising clients on strategic and operational matters in financial control environments. Tobias holds a BCom from the University of Namibia and has completed further non-degree courses through UNISA in management accounting, commercial law and business management.

Staff Fabian

Fabian de Beer

Chief Risk Officer

BCom (Accounting & Economics), H.Dip.Ed

Fabian joined Mergence in 2006. He has over 34 years’ experience in financial services, specialising in investment and macro strategy. Fabian’s primary focus is on investment risk, compliance, and regulatory matters across Public and Private markets. He serves on the Mergence Group Board as well as the in-country Boards where Mergence operates. He has held senior and executive management positions at major SA banks and retirement funds.

Semoli Mokhanoi

Director SADC & Head of Business Development

MBA (Strategy), BCom (Accounting), BCom Hons (Fin Planning)

Semoli joined Mergence in 2017 as Regional Investments Strategist. He has 20 years’ experience, including as a fund accountant, investment consultant and business development executive. With a strong network of contacts throughout the Southern African Development Community (SADC), he is also a non-executive director on several company boards. Semoli serves on the executive committee of Mergence Investment Managers.

Staff John

John Afordofe

Chief Financial Officer

BCom (Accounting), PG Dip (Accounting), CA(SA)

John joined Mergence in November 2018 as General Manager: Operations. He was promoted to Chief Operating Officer in 2019. In September 2021 his role at Mergence was specialised into Chief Financial Officer as part of high-level changes to the Mergence executive leadership team to meet the company’s strong growth. John serves on the executive committee of Mergence Investment Managers.

Staff Hileni

Hileni Nghinaunye

Portfolio Manager

BBusSc, Postgraduate Diploma in Investment & Portfolio Management

Hileni joined Mergence Unlisted Investment Managers (Namibia) as a portfolio manager in 2017. She has over 15 years of experience in financial services. At Mergence she has transacted on and overseen infrastructure and impact investments on behalf of Namibia’s largest retirement fund, including three renewable energy projects, and a bulk infrastructure/land servicing project.

Staff Mosa 410x600 1

Mosa Molebatsi

Senior Investment Associate

BCom (Actuarial Science, Quantitative Finance)

BCom Hons (Finance)

MPhil (Development Finance)

CFA® Charterholder

Mosa joined Mergence in 2023 as a Senior Investment Associate in the Private Markets team. Previously, she worked at the International Finance Corporation, the Public Investment Corporation, and Momentum Metropolitan Holdings in various investment roles. She is also involved in lecturing and foundation trustee work.

Staff Hileni

Hileni Nghinaunye

Portfolio Manager

BBusSc, Postgraduate Diploma in Investment & Portfolio Management

Hileni joined Mergence Unlisted Investment Managers (Namibia) as a portfolio manager in 2017. She has over 15 years of experience in financial services. At Mergence she has transacted on and overseen infrastructure and impact investments on behalf of Namibia’s largest retirement fund, including three renewable energy projects, and a bulk infrastructure/land servicing project.

Staff Mosa 410x600 1

Mosa Molebatsi

Senior Investment Associate

BCom (Actuarial Science, Quantitative Finance)

BCom Hons (Finance)

MPhil (Development Finance)

CFA® Charterholder

Mosa joined Mergence in 2023 as a Senior Investment Associate in the Private Markets team. Previously, she worked at the International Finance Corporation, the Public Investment Corporation, and Momentum Metropolitan Holdings in various investment roles. She is also involved in lecturing and foundation trustee work.

Staff Tshepiso

Tshepiso Appie

Investment Associate

BBusSc Hons

Tshepiso joined Mergence in Johannesburg in 2018 following 11 years of experience in the deal team of a private equity house. At Mergence Tshepiso has worked on deals in medicinal cannabis, primary healthcare, affordable housing, agri-finance, specialised healthcare, waste management, secondary mining, student accommodation, financial inclusion and fintech spaces.

Staff Nandipha

Nandipha Kenqa

Risk Manager

BCom (Financial Accounting), PGDA, CA(SA)

Nandipha joined Mergence as a risk manager in the Private Markets investment team in June 2017. She has six years of experience working as an external and internal investment auditor. Nandipha’s responsibilities at Mergence include ensuring that governance, risk, and control frameworks are effective and that all investment activities, across all markets, sectors, and deals are in accordance with applicable legislation, regulation, and client mandates.

Staff Chito

Chitongwa Siame

Investment Principal

BSc Hons, MCom (Financial Management), ACCA

16 years industry experience; 12 years with Mergence

Chito joined Mergence in 2011 as an equity analyst in the public markets’ investment team focused on FMCG, hospitality, financial services, and telecommunications before transitioning to the private markets investment team in 2015. As Investment Principal, Chito focuses on private market investment opportunities within SADC. He has led transactions in the aquaculture and microfinance sectors and serves on the boards of several investment companies.

Staff Linkeng

Linkeng Letsaba

Trainee Analyst

BCom (Investment Management and Banking), BCom Hons

1 year industry experience; 1 year with Mergence

Linkeng joined Mergence Investment Managers (Lesotho) in 2022 as a trainee analyst, where she supports the investment analyst team within private markets. Her role encompasses assisting with the origination of opportunities and guiding them through the investment process to implementation. Linkeng has team leadership skills, having been an SRC exco member at university.

Namibia-Tobias

Tobias Junior Katjire

Executive Director: Finance

BCom

Tobias Junior Katjire joined Mergence Unlisted Investment Managers (Namibia) (Mergence Namibia) in May 2017 and serves as Executive Director: Finance. In this role, he is responsible for the finance function in Namibia, including financial management and reporting, budgeting and forecasting, cash and liquidity management, strengthening financial controls and governance processes, and supporting the operational and commercial requirements of the business. He is an experienced accountant who completed his articles with BDO Namibia in 2006 and later held finance leadership roles at a large Namibian state-owned enterprise, including General Manager: Finance, Administration and IT. In 2012, he established his own consultancy, advising clients on strategic and operational matters in financial control environments. Tobias holds a BCom from the University of Namibia and has completed further non-degree courses through UNISA in management accounting, commercial law and business management.

Namibia-Fyritta

Fyritta Swartz

Receptionist/ Administrative Assistant

Bachelor of Business Administration, Higher Certificate in Management.

Fyritta joined Mergence Unlisted Investment Managers (Namibia) in 2017. She was appointed as an administrative assistant, excelling in reception, secretarial tasks, and operating the switchboard. Adept at managing diverse responsibilities, from mail services to coordinating board meetings and maintaining office inventory, Fyritta is adaptable, reliable, and thrives in crises. She has a Bachelor of Business Administration and a Higher Certificate in Management.

Staff Ronel New 410x600 1

Ronel Bantjes

Head: Marketing and Public Relations

BA (Fine Arts), BCom (Informatics)

Ronel joined Mergence in 2010 as a Business Development Manager with a focus on a combination of functions, including client retention, product development, institutional business growth, and marketing/media strategy. In 2019 she was promoted to Head: Marketing and Public Relations for Mergence Group. Previously Ronel worked for Goldman Sachs in London, followed by various South African fund managers.

Namibia Organogram Update 01
Mergence embraces the multi-culturalism and multi-racial diversity of Southern Africa. It is our primary goal to build businesses that reflect this and that empower citizens, communities, and economies across the entire region.
Ndelitungapo Omotuli Shiluwa Marino
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Ndelitungapo Omotuli Shiluwa-Marino

Executive Director
Namibia-Tobias
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Tobias Junior Katjire

Executive Director: Finance
Staff Fabian
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Fabian de Beer

Chief Risk Officer
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Semoli Mokhanoi

Director SADC & Head of Business Development
Staff John
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John Afordofe

Chief Financial Officer
Staff Hileni
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Hileni Nghinaunye

Portfolio Manager
Staff Mosa 410x600 1
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Mosa Molebatsi

Senior Investment Associate
Staff Hileni
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Hileni Nghinaunye

Portfolio Manager
Staff Mosa 410x600 1
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Mosa Molebatsi

Senior Investment Associate
Staff Tshepiso
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Tshepiso Appie

Investment Associate
Staff Nandipha
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Nandipha Kenqa

Risk Manager
Staff Chito
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Chitongwa Siame

Investment Principal
Staff Linkeng
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Linkeng Letsaba

Trainee Analyst
Namibia-Tobias
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Tobias Junior Katjire

Executive Director: Finance
Namibia-Fyritta
READ MORE

Fyritta Swartz

Receptionist/ Administrative Assistant
Staff Ronel New 410x600 1
READ MORE

Ronel Bantjes

Head: Marketing and Public Relations

Mergence embraces the multi-culturalism and multi-racial diversity of Southern Africa, and we are building businesses that reflect this. We are committed to building a better future for our communities, children, the environment and our country.

We are building and uplifting our communities to help ensure they are healthy, educated, and cared for.

The following project, among others, form part of Mergence’s corporate social investment in Namibia.

Mergence Unlisted Investment Managers (Namibia) made a remarkable contribution to the Alumni and Namibia University of Science and Technology (NUST) Foundation by donating office furniture valued at over N$50,000. This generous donation significantly enhanced the department’s workspace, providing a more comfortable and efficient environment for staff and visitors. The new furniture included desks, chairs, filing cabinets, and other essential office items, all of which supported the department’s ongoing efforts to engage with alumni and foster relationships that benefit the entire university community. Our support to this project is a testament to our commitment to education and sustainable shared value in Namibia.

1709276934091
visually impaired 2

Administration

At Mergence, we focus on our core competency, which is fund management. As such, our fund administration is outsourced to an independent service provider, Apex Group. Mergence Unlisted Investment Managers (Namibia) has the same arrangement, but with the relationship management of the outsource administration service being managed from Namibia.

Back-up & Disaster Recovery Plan (DRP)

We make regular backups of all our data and have an off-site disaster recovery facility. The DRP ensures that we will be able to continue operating in the event of a disaster while we re-establish and set up a permanent office.

Conflict of Interest

Our “Conflicts of Interest Policy and Conflict Management Framework” outlines Mergence’s adopted policy for conflicts of interest among employees, key individuals, and representatives. Should you require it, a copy of this document is readily available upon request.

Complaints Handling Procedure

Mergence Unlisted Investment Managers (Namibia) Pty Ltd. has systems in place for the purpose of timely and efficient resolution of complaints within the specified timeframes. Our complaint handling procedure is documented and available on request.

Global Investment Performance Standards (GIPS)

These standards govern the preparation and presentation of performance numbers, and although compliance with them is voluntary, Mergence adopts the standards as they are considered best practice.

Regulation and Compliance

Legal compliance is also outsourced. EIS Namibia and PwC are currently engaged, and ongoing external compliance or is? outsourced to Compli-Serve SA. Compli-Serve SA is a leading independent specialist provider of advisory and operational compliance services to the financial services sector. Internally, the Executive Director is accountable for compliance. Regular communication with PwC and NAMFISA ensures that Mergence is up to date with the latest regulatory changes and complies with the necessary requirements.

Mergence believes that the safe and optimal functioning of infrastructure is one of the crucial building blocks for economic growth. Through a collective effort and a common purpose to prioritise this, we are well positioned to help generate and fast-track social, environmental, and economic returns to investors and to the people of Namibia.

As a committed impact investor, our primary focus is on infrastructure and developmental investments in line with the Mergence Group ethos of “creating sustainable shared value”.

Our objective is to be recognised and rated as a premier investment manager by our clients, prospective clients, and industry participants, to grow Mergence over time, and to offer additional, more traditional fund offerings in the form of equity and multi-asset class funds.

At Mergence Namibia, we embrace the following values:

Excellence

Inclusion

Integrity

Transparency

Teamwork

We believe that specialised fund managers such as Mergence can play a significant role in providing debt and/or equity funding to projects in the fields of energy, health, education, digital infrastructure, land delivery, and help to drive Public-Private Partnerships (PPPs) between government and the private sector.

As such, our portfolio is structured to pursue the following outcomes:

  • Provide sound returns to investors throughout economic cycles.
  • Generate enhanced yield, underpinned by stable cash flows.
  • Provide diversification for traditional asset classes.
  • Provide a hedge for long-term liabilities or inflation.

Our clients include institutional pension funds, government agencies, fund managers, and multi-managers within the SADC region. By providing comprehensive unlisted investment management services to our clients, we aim to generate shared value by:

  • enabling pension funds, provident funds, and other long-term investors to meet their future obligations.
  • investing in businesses and large projects that would not have gained the necessary momentum or reached their potential without our investment and ongoing support.
  • seeking to find often-overlooked sectors and/or companies with capital needs not readily met in public capital markets.

It is our longstanding belief that companies cannot achieve sustainable economic success while neglecting their social and environmental responsibilities. Responsible investing forms an intrinsic part of our investment processes and supports our mission in creating sustainable shared value through delivering positive risk-adjusted returns for our clients while making a significant positive impact on society and the environment.

Engagement with companies and voting at shareholder meetings are both powerful tools that we have considered to be an essential part of our active management offering since the very beginning of our responsible investing journey. We were one of the first South African asset managers to make public its proxy voting decisions. Click here to view our historic proxy voting records.

CLICK HERE to view our historic proxy voting records.

We have been early supporters of initiatives guiding responsible investing, including:

  • Signatory to the United Nations supported Principles for Responsible Investment (PRI) since 2008
  • Supporter of the Code for Responsible Investing in South Africa (CRISA)
  • Signatory to the Climate Change 100+
  • Members of Carbon Disclosure project

Our investment processes deliberately include ESG considerations which are continually refined, updated and enhanced by the investment teams.

Our Public Markets team have an explicit ESG pillar and minimum ESG deliverables as part of their equity research process and portfolio construction. Similarly, the Private Markets team have an ESG management system which details how they incorporate ESG issues into the investment decision-making process with a view to mitigating overall portfolio risk, promoting sustainability, and generating positive impact. The system also spells out our ESG requirements of investee companies.

At Mergence, we believe in the power of People, Planet and Prosperity, acknowledging that making profits can only be justified if people and the planet are respected and preserved in the process. Our ethos of creating sustainable shared value is at the heart of our business. Making a positive impact on society, embracing diversity and inclusion, nurturing relationships, and encouraging an entrepreneurial spirit underpin our commitment to being a responsible employer.

As evaluated by an independent agency we currently hold a Level 1 BBBEE rating.

We offer a range of local and offshore investment strategies that meet the needs of retirement funds and individuals in Southern and Sub-Saharan Africa. We are dedicated to managing and growing our clients’ investments in a socially sustainable manner. Our clients are mainly institutional investors with a growing offering of retail investors.

ExploreDateFund Fact SheetTransactional Form
Capped SWIX FundFebruary 2024
Equity Prime Fund (Unit Trust)February 2024
SWIX FundFebruary 2024
ExploreDateFund Fact SheetTransactional Form
CPI + 4% Prime Fund (Unit Trust)February 2024
Domestic CPI +4% FundFebruary 2024
Global Balanced FundFebruary 2024
ExploreDateFund Fact SheetTransactional Form
Bond CompositeFebruary 2024
Prime Money MarketFebruary 2024
ExploreDateFund Fact SheetTransactional Form
Bond CompositeFebruary 2024

Mergence was a pioneer in impact and infrastructure investing, with a rich history showcasing the advantages of uncorrelated alternative investments. We strongly advocate for the potential of these investments to deliver consistent long-term returns while making a positive social impact. Our diverse portfolio encompasses a wide range of debt and equity asset classes carefully chosen from sectors that global and national organisations have identified as high-priority areas.

ExploreDateFund Fact Sheet
Bond CompositeFebruary 2024
Debt FundFebruary 2024
Equity FundsFebruary 2024
ExploreDateFund Fact Sheet
Renewable Energy Debt FundFebruary 2024
ExploreDateFund Fact Sheet
Bond CompositeFebruary 2024

Bond Composite

Objective

This Fund aims to invest in a diversified combination of infrastructure risk-adjusted returns, whilst supporting the development of both social and economic infrastructure services. The Fund forms part of the Mergence suite of impact funds. The Fund strives to generate attractive risk-adjusted returns over that of the FTSE/JSE All Bond Index (ALBI).

Fund Managers:

No data was found
Fund Factsheet

Debt Fund

Objective

The Mergence Infrastructure & Development | Debt Fund has a long-term performance target of inflation +3% per annum over the medium to long term by investing in opportunities that create both a positive and measurable social, developmental, and/or environmental impact.

Fund Managers:

Fund Manager Chito
Chitongwa Siame
Investment Principal
Fund Factsheet

Equity Funds

Objective

Our specialist equity mandates aim to provide investors with capital growth over the long term. The key objective of these mandates is to consistently achieve returns that are in excess of the respective benchmarks over any rolling three-year period, without exposing the client to excessive risk. We embrace a style-agnostic approach and have a strong bias towards quality at a reasonable price.

Fund Managers:

Fund Manager Chito
Chitongwa Siame
Investment Principal
Fund Factsheet

Renewable Energy Debt Fund

Objective

The objective of these Funds is to provide commercially viable investments into the renewable energy sector enabling investors to achieve targeted investment returns together with social and environmental impact. Through both these Funds, we are invested in 13 renewable energy projects within Southern Africa, across both wind and solar. Fund II is open for investment.

Fund Managers:

Fund Manager Chito
Chitongwa Siame
Investment Principal
Fund Factsheet

Bond Composite

Objective

This Fund aims to invest in a diversified combination of infrastructure risk-adjusted returns, whilst supporting the development of both social and economic infrastructure services. The Fund forms part of the Mergence suite of impact funds. The Fund strives to generate attractive risk-adjusted returns over that of the FTSE/JSE All Bond Index (ALBI).

Fund Managers:

No data was found
Fund Factsheet

Our specialist equity mandates aim to provide investors with capital growth over the long term. The key objective of these mandates is to consistently achieve returns that are in excess of the respective benchmarks over any rolling three-year period, without exposing the client to excessive risk. We embrace a style-agnostic approach and have a strong bias towards quality at a reasonable price.

Capped SWIX Fund

Objective

The objective of these mandates is to achieve returns that are in excess of the FTSE/JSE Capped Shareholder Weighted Index (Capped SWIX) over any three-year rolling period without exposing the Fund to excessive risk. These core mandates target maximum active returns relative to tracking error volatility.

Fund Managers:

No data was found
Fund Factsheet

Equity Prime Fund (Unit Trust)

Objective

The Mergence Equity Prime Fund is a collective investment scheme fund that aims to provide investors with capital growth over the long term by achieving returns that are in excess of the FTSE/JSE Capped Shareholder Weighted Index (Capped SWIX), without exposing the Fund to excessive risk.

Fund Managers:

No data was found
Fund Factsheet
Transactional Form

SWIX Fund

Objective

The objective of these mandates is to achieve returns that are in excess of the FTSE/JSE Shareholder Weighted Index (SWIX) over any three-year rolling period without exposing the Fund to excessive risk. These core mandates target maximum active returns relative to tracking error volatility.

Fund Managers:

No data was found
Fund Factsheet

Our range of multi-asset strategies include absolute return and balanced mandates. These products are developed for institutional and retail investors who seek a product which is broadly diversified across asset classes including equities, listed property, conventional bonds, and inflation-linked bonds both domestically and internationally.

CPI + 4% Prime Fund (Unit Trust)

Objective

This collective investment scheme fund is managed with the objective of producing a real return of 4% above inflation per annum over the longer term while preserving capital over rolling 12-month periods. The Fund employs active asset allocation and derivative hedging to manage and reduce downside risk. It is broadly diversified across asset classes including equities, listed property, conventional bonds and inflation-linked bonds, both domestically and internationally.

Fund Managers:

No data was found
Fund Factsheet
Transactional Form

Domestic CPI +4% Fund

Objective

The Fund is managed with the objective of producing a real return of CPI plus 4% per annum over the longer term while preserving capital over rolling 12-month periods. It may underperform relative to overall equity markets due to its focus on capital preservation and long-term capital growth.

Fund Managers:

No data was found
Fund Factsheet

Global Balanced Fund

Objective

These Regulation 28-compliant mandates aim to generate stable long-term returns through exposure to a broadly diversified set of asset classes including equities, listed property, conventional bonds, and inflation-linked bonds, both domestically and internationally. It is managed with the objective of producing a real return in excess of 5% per annum above inflation. Derivatives may be used for the purposes of hedging or return enhancement. The inclusion of international assets broadens diversification and should enhance risk adjusted returns.

Fund Managers:

No data was found
Fund Factsheet
Mergence provides access to a specialist range of traditional fixed-income solutions that are backed by a robust investment process. Our products are designed to deliver a high level of interest income with a low probability of capital loss, dynamic returns tailor-made to any risk preference, and diversification when it matters most.

Bond Composite

Objective

This Fund aims to invest in a diversified combination of infrastructure risk-adjusted returns, whilst supporting the development of both social and economic infrastructure services. The Fund forms part of the Mergence suite of impact funds. The Fund strives to generate attractive risk-adjusted returns over that of the FTSE/JSE All Bond Index (ALBI).

Fund Managers:

No data was found
Fund Factsheet

Prime Money Market

Objective

These portfolios aim to consistently outperform the benchmark over a 12-month rolling period while providing liquidity at a low level of risk. These well-diversified portfolios implement a range of South African money market instruments.

Fund Managers:

No data was found
Fund Factsheet
Transactional Form
Mergence provides access to a specialist range of hybrid fixed-income solutions that are backed by a robust investment process. Our products are designed to deliver a high level of interest income with a low probability of capital loss, dynamic returns tailor-made to any risk preference, and diversification when it matters most.

Bond Composite

Objective

This Fund aims to invest in a diversified combination of infrastructure risk-adjusted returns, whilst supporting the development of both social and economic infrastructure services. The Fund forms part of the Mergence suite of impact funds. The Fund strives to generate attractive risk-adjusted returns over that of the FTSE/JSE All Bond Index (ALBI).

Fund Managers:

No data was found
Fund Factsheet

Mergence is an independent asset management firm with a strong 18-year track record. We were founded in 2004 and have successfully grown our offering to a diverse product range across both public and private market investments, spanning specialist equity and fixed income, multi-asset, infrastructure, debt and private equity funds.

We are focused on sub-Saharan markets and led by a pragmatic, sustainable, shared value creation mindset. Responsible investing and ESG principles are part of our ethos and embedded across our investment processes.

Mergence is majority black-owned and managed and embraces the multi-cultural and multi-racial diversity of Southern Africa. We employ 58 people across our operations in Cape Town, Johannesburg, Windhoek, and Maseru.

who we are diagram

At Mergence we value our people. Our culture is characterised by a collective focus on excellence and development, keeping our staff motivated and committed to growing with Mergence and growing our clients’ savings.

Our senior investment team have worked together for nearly a decade. With over 300 years of combined experience our entire team, including analysts and fund managers, have distinct specialisation in both Public and Private Markets. We leverage data and key elements from each area to widen our perspective and innovate to obtain outperformance.

No data was found
Staff Sholto

Sholto Dolamo

Managing Director, Mergence Investment Managers

BSc (Chemistry)

BTech (Ceramic Science) 

MSc (Engineering)

MBA (Administration)

Sholto joined Mergence in July 2022. He has more than 15 years’ experience in financial services with a focus on strategic leadership, product innovation, and research across all asset classes in Public and Private markets. He held various senior roles at the Public Investment Corporation including Acting Chief Investment Officer. Before entering the financial services sector, Sholto pursued a specialised career in resources and precious metals.

Staff Karen

Karen Wagner

HR Executive

Diploma (HR Management & Training)

Karen joined Mergence in February 2014 as Office Manager. In December 2017, she was promoted to HR Manager. Karen has 27 years of experience in office management and finance, having worked at several large corporates before joining Mergence. In acknowledgement of the importance of our people, Karen was appointed to the executive committee of Mergence Investment Managers in October 2022.

Staff Morgan

Morgan Mlambo

Head: Investment Risk & Analytics

BSc (Mathematics & Statistics)

BSc Hons (Mathematics of Finance)

Financial Risk Manager (FRM)

MBA

Morgan joined Mergence in 2018. He has over 15 years of experience in the financial services industry. At Mergence, he has oversight on the generation and monitoring of investment risk metrics for Mergence portfolios including performance metrics, market risk, etc. In addition, he also has oversight on the compliance function pertaining to the Public Markets portfolios.

Staff Chito

Chitongwa Siame

Investment Principal

BSc Hons, MCom (Financial Management), ACCA

16 years industry experience; 12 years with Mergence

Chito joined Mergence in 2011 as an equity analyst in the public markets’ investment team focused on FMCG, hospitality, financial services, and telecommunications before transitioning to the private markets investment team in 2015. As Investment Principal, Chito focuses on private market investment opportunities within SADC. He has led transactions in the aquaculture and microfinance sectors and serves on the boards of several investment companies.

Staff Linkeng

Linkeng Letsaba

Trainee Analyst

BCom (Investment Management and Banking), BCom Hons

1 year industry experience; 1 year with Mergence

Linkeng joined Mergence Investment Managers (Lesotho) in 2022 as a trainee analyst, where she supports the investment analyst team within private markets. Her role encompasses assisting with the origination of opportunities and guiding them through the investment process to implementation. Linkeng has team leadership skills, having been an SRC exco member at university.

Staff Chabelo 410x600 1

Ntsbeng Chabeli

Property Analyst

BA (Economics)

PGDip (Property Management & Development)

MCom (Finance & Investments)

Ntsebeng joined Mergence Investment Managers (Lesotho) as a Property Analyst in 2022. She has five years of experience, including time spent as a real estate specialist and data analyst. Her responsibilities at Mergence include analysing the economic drivers of the commercial property portfolio and assessing the financial opportunity for existing and potential property investments.

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Staff Sholto
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Sholto Dolamo

Managing Director, Mergence Investment Managers
Staff Karen
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Karen Wagner

HR Executive
Staff Morgan
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Morgan Mlambo

Head: Investment Risk & Analytics
Staff Chito
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Chitongwa Siame

Investment Principal
Staff Linkeng
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Linkeng Letsaba

Trainee Analyst
Staff Chabelo 410x600 1
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Ntsbeng Chabeli

Property Analyst