africa on the
Structuring Today Strengthening Tomorrow
arise and shine africa
Harith Harith Fund Managers (Pty) Ltd (Harith) was established in 2007 with the objective
The Chief Executive Officer of Harith, Tshepo Mahloele, has over 15 years
of managing infrastructure investments across the African continent. Harith’s
experience in the financial services sector, having previously worked for the PIC’s
goal is to provide “superior returns to investors” while at the same time “doing
domestic private equity arm, the Isibaya fund, the Development Bank of Southern
good for the African continent”. Harith believes that Africa is “the last frontier” of
Africa, and the Commonwealth Development Corporation.
emerging markets to achieve superior returns for risk capital. Supported by a highly experienced staff of 30 people, covering all disciplines The name Harith is a North African word with a dual meaning - ‘plough’ and
required to achieve its goal, Harith is well placed to attract private capital that
‘protector’. Harith sees itself as ploughing the African continent and planting
contributes to the development of the continent.
the seeds of much needed infrastructure, whilst protecting the interests of its investors.
Harith has representative offices in Mauritius, Tunisia and Ghana. In its short existence, Harith has already been awarded the “Infrastructure Fund of the Year”
Headquartered in Sandton, South Africa, the shareholding of Harith is spread between the Public Investment Corporation Ltd (PIC), Old Mutual Life Assurance Company (South Africa) Ltd, Absa Bank Ltd trading as Absa Capital (Absa Capital) and the management of Harith.
award in two successive years (2009 and 2010) by Africa Investor.
Harith intends to advance its vision of being â€œthe leading fund manager for
infrastructure investments on the African continent by delivering superior
14 September 2007
31 March 2009
USD 630 Million
returns for all stakeholdersâ€?. Harith seeks to become the partner of choice through establishing an influential and active network of strategic relationships across the African continent. To this end, Harith will exceed delivery expectations for quality, responsiveness and value to all stakeholders.
Funds under Management
INVESTMENT CRITERIA Investment Class
Minority, with substantial influence
15% Single Entity 20% Country
Harith is the fund manager of Pan African Infrastructure Development Fund (PAIDF), one of the largest African focused private equity funds, with a mandate to invest in private infrastructure development projects in Africa.
30% Sector Investment Sectors
Information Communications and Technology Transport
There are 10 African investor participants in PAIDF, comprising state pension
Power and Energy
funds, top investment banks and financial institutions, and leading development
Water and Sanitation
PAIDF PAIDF is governed by a Board of Trustees. Sub-committees include an Investment Committee, an Audit and Risk Committee and a Conflicts Committee. Both independent and non-independent members serve at all levels. PAIDF plays a vital role in providing a financial platform for Africaâ€™s economic growth which is being undermined by its lack of adequate infrastructure. Harith is targeting a minimum 15% rate of return for investors in PAIDF. Harith intends building up minority interests in investments and then exiting these investments through listing, selling to strategic investors or selling to majority shareholders. Social and development spin-offs are also being sought.
Investment Team The investment team is led by the Chief Investment Officer, Alwyn Wessels, who spent over 10 years in the infrastructure division at Absa Capital prior to joining Harith. The team comprises 9 individuals, with an average experience of 13 years, and a combined experience of over 100 years.
Investment Strategy PAIDF is governed by a Board of Trustees. Sub-committees include an Investment Committee, an Audit and Risk Committee and a Conflicts Committee. Both independent and non-independent members serve at all levels. PAIDF plays a vital role in providing a financial platform for Africaâ€™s economic growth which is being undermined by its lack of adequate infrastructure. Harith is targeting a minimum 15% rate of return for investors in PAIDF. Harith intends building up minority interests in investments and then exiting these investments through listing, selling to strategic investors or selling to majority shareholders. Social and development spin-offs are also being sought.
The portfolio under management (aggregating 42.93% of PAIDF) comprises six investments, namely an oil-field service operating out of Nigeria, an African focused independent power producer, a West Coast undersea cable, a GSM operator in Kenya, a terrestrial telecommunications infrastructure company operating out of South Africa, and an airport in Tunisia.
Risk Management Harith operates on the basis of sound, transparent and fiscally responsible principles to protect investor interests and assets, whilst staying within the mandated objectives. Harith applies international best practice processes, procedures and strategies. Notably, Harith has a unique understanding of African risks and applies a strategic approach to risk management.
Corporate Governance Harith is governed by a Board of Directors, assisted by an Audit and Risk Committee, a Human Resources and Remuneration Committee, and a Nominations Committee. The Board structure is unitary, and comprises both executive and non-executive directors.
Structuring Today Strengthening Tomorrow
www.harith.co.za email@example.com No. 1 Chislehurston 33 Impala Road Chislehurston Sandton 2146
South Africa Pule Molebeledi Tunisia Souleymane Keita Ghana Ernest Nyarko
+27 11 384 4000 +27 76 455 9197 +27 73 039 4361