We offer Black Economic Empowerment (BEE) solutions to clients wishing to become BEE compliant and/or grow their businesses in return for part-ownership by black entrepreneurs. 

We have financed over 90 BEE deals since our inception through some of our BEE partners: Shalamuka Capital, Agile Capital, D-Capital, Espin Capital, Lereko and Umoya.

Shalamuka is a Broad-Based BEE private equity fund which was started in 2008 by Shalamuka Foundation and RMB Corvest. The fund was established to fund of the Penreach Programme – a non-profit, in-service educational development-training programme that was developed to improve the teaching skills of qualified and unqualified educators, as well as their schools in and around the Mpumalanga region.

The programme has benefitted more than 2 000 teachers, 900 schools and in excess of 350 000 learners.

Shalamuka Capital offers investment partners:

  • A Broad-Based BEE private equity company – 100% black-owned for the purposes of the BBBEE scorecard
  • Access to a large black women beneficiary base – Penreach – 32% black women-owned


Agile Capital is a respected, black-owned and managed private equity fund based in Johannesburg, South Africa. It focuses on investments that drive sustainable development and has a demonstrable track record of growth and investment returns.

Under the leadership of exceptional financial professionals, the company has built a strong and diversified investment portfolio across a range of economic sectors. In little over a decade, Agile Capital has built a substantial asset base invested in blue-chip mid-market companies with growth potential, and has become a leading 21st century African investment firm.


D-Capital (Dlondlobala Capital) is a 86% black owned investment holding company, of which 71,4% is held by black women. The company, like RMB Corvest, is not a traditional private equity fund and thus does not face exit timing pressures and is able to invest in the long-term growth of its partner businesses.

The management team consists of individuals who have over 90 years‘ combined experience in private equity. D-Capital’s principals are Danie Jordaan, JJ Njeke and Prof Wiseman Nkhulu. They represent an extensive network both in the private and public sector, with many years of deal making and business experience.


Espin Capital is a South African based mid-market private equity firm that was founded in 2015. The firm invests in cash generative businesses in South Africa and sub-Saharan Africa that have a clearly defined niche market, good growth prospects and formidable management teams.

Espin Capital is a 100% black owned entity, 30% of which, owned by black women. With sustainability and growth being key focus areas of the firm’s investments, Espin Capital’s BEE credentials facilitate the seamless introduction of BEE policies at the shareholding and employment equity levels of its investee companies.


Lereko Eco was established in July 2004 with the objective of participating in the ongoing transformation of the South African economy. The founding partners, the late Eric Molobi, Valli Moosa and Dr Popo Molefe had the vision of becoming a significant black-owned and black-led investment house in South Africa. Shortly after its inception, Dr Lulu Gwagwa joined Lereko Eco as a Chief Operating Officer and later Cedrick Mampuru was appointed Financial Director. Cedrick has since been promoted to the position of Chief Executive Officer.

Moosa, Molefe and Gwagwa have a wealth of experience in public and private sector companies. Together they bring keen leadership and relevant experience to Lereko Eco. They have an entrepreneurial spirit and are determined to establish Lereko Eco as a company of the future, focusing on long-term business partnerships.

In a decade, the company built a portfolio of investments in diverse sectors such as gaming and leisure, logistics, property development, pulp and paper, waste management, renewable energy and key private equity investments, having partnered with Metier private equity. The investments facilitate structured participation for Broad-Based partners that incorporate community trusts, public benefit organisations and women’s groups.

Lereko Eco is a 100% black-owned company, while black women shareholding in Lereko Eco currently stands at 30%. Lereko Eco and Metier’s partnership came to an end in 2016. Lereko Eco and RMB Corvest have been in negotiations since then to set up a new private equity investment vehicle.


Umoya Capital Partners (Umoya) was established early in 2021 as a result of a commitment between several young investment professionals to create a BEE investment partner for private business owners in South Africa.

Umoya is a black owned and managed private investment company, providing capital to privately owned businesses. The team provides growth capital, funding for medium to large leveraged and/or management buy-outs/ins.

Umoya’s partners are seasoned private equity transactors with a combined track record of concluding in excess of 30 private equity transactions and over 60 advisory transactions. In addition to support from RMB Corvest, Umoya has its own capital base and seeks to provide either replacement capital or growth capital to opportunities that meet its investment criteria.

Umoya’s investment team

  • Sabelo Sithebe-Marishane (CA. SA), co-founder Umkhathi Wethu (Pty) Ltd
  • Harry Apostoleris (CA. SA), co-founder Umkhathi Wethu (Pty) Ltd
  • Mark Cawood (BCom LLB), director Mast Capital (Pty) Ltd
  • Dylan Finch (CA. SA, CAIA), ex Investec Bank Ltd
  • Darryl Horney (CA. SA), co-founder Spirit Capital (Pty) Ltd


Imbani Private Equity is a majority black-owned, open-ended and sector agnostic fund that represents the interests of Imbani Holdings – a 100% black-owned and managed investment holding company. Imbani Holdings that has been participating in the South African economy for more than 40 years.

Imbani Private Equity seeks to invest in companies where direct value add can be realised for stakeholders of investee companies through synergies within the Imbani group and its broader relationships, with a particular emphasis on active involvement.

The Imbani group enjoys long standing successful partnerships with both local and international institutional co-investors across a number of sectors, including mining, manufacturing, infrastructure and logistics.


New Seasons Investment Fund was launched following an effective merger in October 2018 between the two respected private equity companies – New Seasons Investment Holdings and Nodus Equity. The fund has a focus on empowering medium-sized enterprises across various industry verticals in South Africa. Their investment fund strategy consist of investing in assets with little constraints as to the industry and duration of investment. The fund seeks to achieve a well-diversified and balanced portfolio, using an optimal mix of equity and gearing to maximise value for its shareholders while generating attractive returns.

Bluhm Burton Engineering is a consulting engineering firm dedicated to finding and implementing practical and economic solutions to all mine ventilation and refrigeration engineering and associated occupational health and safety problems. BBE has an extensive worldwide client base within the base metal, gold, platinum, coal, potash and diamond mining industries.


Provest is an integrated mining and construction services company that offers quality services to the mining, industrial and commercial sectors. The company’s offering ranges from cement and aggregate products, to general mining services and specialised underground support products and solutions.


Other portfolios

We believe in creating solid relationships and partnerships.