Creating a black-controlled South African mining champion

Seriti is a broad based, 91% black owned and controlled South African mining company co-owned by four black anchor shareholders, Masimong Group, Thebe Investments, Zungu Investments (Zico) and Community Investment Holdings (CIH).

With Dr Anna Mokgokong and Mike Teke respectively as Chair and CEO at the helm, the company is directed by a board and management team who collectively have significant and relevant experience in the acquisition, operation and development of large-scale coal operations in the country.

Seriti was incorporated to acquire the New Vaal, New Denmark and Kriel mines from Anglo American, as well as various life extension coal resources and closed collieries. This acquisition positions Seriti as major South African mining company responsible for supplying approximately 24Mtpa of thermal coal to Eskom’s Lethabo, Tutuka and Kriel power stations, which collectively generate about 23% of the country’s electricity.

In addition, the acquisition effectively makes Seriti Eskom’s largest black controlled coal supplier, with a clear focus on providing Eskom with secure, long-term coal supply solutions to fuel its power station fleet.

As a company we also believe in establishing a sustainable legacy for the communities in which we operate, and the mining industry as a whole. To support this philosophy, 10% of our equity has been ring-fenced equally for the benefit of employees and communities through employee and community trusts.

We aim to be an industry leading empowerment champion that rejuvenates the mining industry and actively builds a legacy that creates growth for our stakeholders and our country.

Values

The values we live by


Seriti is underpinned by six core values that will enable us to empower and create growth for all our stakeholders

Safety and health without compromise

The delivery of best-in- class health and safety performance

Environmental care

The commitment to operate in a manner that would meet compliance requirements in preserving the environment

Respect for all

The treatment of all our stakeholders with the utmost respect and consideration

Integrity in all that we do

The commitment to be open and transparent, and act in honesty in all our dealings

Transformation for the benefit of all stakeholders

The facilitating of meaningful, long-term empowerment and transformation for the benefit of all stakeholders

Implement what is promised

The implementation of what we promise in an intelligent and effective manner

Shareholders

Experienced anchor shareholders


Seriti is co-owned by four black anchor shareholders, Masimong Group, Thebe Investments Corporation,  Zungu Investments (Zico) and Community Investment Holdings (CIH).

Masimong Group Holdings is a broad-based, black owned and controlled investment company focused on mining, industrial, financial services and agri-business fields. Mike Teke and Doug Gain, who both have deep operational coal mining experience, lead the group.

Led by industry veterans Dr Anna Mokgokong and Joe Madungandaba, Community Investment Holdings (CIH) is a 100% black-owned conglomerate focused on mining, energy, healthcare, ICT, Infrastructure and logistics.

Zungu Investments Company (Zico), headed by Sandile Zungu, is a professionally managed black owned, private equity business with significant mining and non-mining interests.

Seriti Thebe logo

Thebe Investment Corporation is one of South Africa’s leading black controlled investment companies with significant mining services interests. The company is led by Vusi Khanyile with Sizwe Mncwango appointed to the Seriti Resources board.

Board of Directors

Leading our future


The Seriti board of directors consists of the following members:

Dr Anna Mokgokong
Chairperson

A renowned female business figure, Dr Anna Mokgokong is a co-founder and Executive Chairperson of Community Investment Holdings (Pty) Ltd, with widespread experience in the fields of healthcare, academia and commerce. Currently serving on the boards of five listed companies, Dr Anna Mokgokong has also served on the boards of many non-listed entities as well as numerous councils of academic institutions and civil society commissions. A social activist, she uses her considerable business influence to bring about empowerment transformation for women and to create economic equality in the economy of South Africa.

Mike Teke
Deputy Chairman (CEO)

From his beginnings in education to his career in Human Resources, Mike Teke has gained extensive experience in people and business management in BHP and Impala, as well as CEO of Optimum Coal Holdings (prior to it being taken over by Glencore). Mike is the Chairperson and controlling shareholder of the Masimong Group and serves as Chair/Non-Executive Director at the Anchor Group, Rofles Holdings and the Richards Bay Coal Terminal. He is also a past president of the Chamber of Mines and serves on the Council of the Chamber. In keeping with his passion to leave a legacy for the next generation, Mike serves on the board of the University of Johannesburg.

Sandile Zungu
Director

In addition to his role as the founder and Executive Chairman of Zungu Investment Company (Zico), Sandile Zungu currently serves as the Non-Executive Chairman of EOH Holdings, and as Non-Executive Director at Grindrod Limited, and Novus Holdings to name but a few. He is also a member of the BRICS Business Council, serves on the BBBEE Presidential Advisory Council and is the Chairman of the UCT Graduate School of Business Advisory Board.

Sizwe Mncwango
Director

With extensive oil and gas experience spanning over 25 years, Sizwe Mncwango is currently the CEO of Thebe Energy and Resources. His impressive resume includes holding the position of CEO of the Central Energy Fund, a state owned South African entity focusing on oil, gas, coal, renewable and alternative primary energy sources, as well as various key and influential executive roles at BP South Africa and the position of founding Managing Director of Masana from its inception in 2005 until 2012.

Executive Committee

Guiding our growth


The executive committee is accountable to the Board through the CEO, and collectively responsible for managing the business of our company.
Our executive committee currently consists of:

Mike Teke
CEO
Douglas Gain
CFO