ArcelorMittal closure confirmed, but hope floats in steel market
Lindsey Schutters
MIC CEO Mary Bomela steps down after 15 years of growth
Mineworkers Investment Company (MIC) has announced that its chief executive officer, Mary Bomela, has stepped down from her role after a 15-year tenure marked by significant growth and strategic expansion. Bomela's leadership has been instrumental in MIC's success, particularly highlighted by the company's strong performance in the 2023/24 financial year. During her time as CEO, MIC's net asset value surged from R2.8bn to R7.8bn, demonstrating the effectiveness of her strategic vision and execution.
Mary Bomela
Over the past three years, MIC has deployed R2bn into new investments, diversifying its portfolio across technology, financial services, and the consumer goods sector.
Notably, the company recently added Chill Beverages and Tropic Plastic & Packaging to its investee portfolio.
Bomela also championed the empowerment of black-owned businesses through MIC's Khulisani Ventures, an investment vehicle focused on innovative and disruptive South African enterprises with high-growth potential.
According to MIC, Bomela's "fearless approach to leadership" was pivotal in driving the company's success.
She implemented a new management structure, streamlined operations, and built a high-performing team.
Exceptional leadership
"Mary has been an exceptional leader and driving force behind MIC's success," said Tshepiso Poho, board chair.
"Her leadership has transformed MIC into the respected company it is today, with a strong balance sheet and solid investment track record."
Bomela's commitment to empowering women in finance has also left a lasting impact, inspiring future generations of female leaders.
Her achievements were recently recognised with a finalist nomination for the RMB Africa's Fearless Thinker Award 2024.
"As MIC turns 30, I am proud of what we have achieved together, and I am confident that MIC will continue to thrive under new leadership," said Bomela.
"I thank the board, my colleagues, and our investees and business partners for their support and trust over the years."
New CEO search
The company has initiated a search for a new CEO to ensure a seamless transition.
"After 15 remarkable years of dedicated service, we extend our heartfelt gratitude to Mary for her exceptional leadership and vision that have propelled the company to new heights," concluded Poho.
"We wish her all the best in their future endeavours. As we embark on a new chapter, we remain committed to ensuring a smooth transition and ongoing success for our organisation.”
