Mahube Infrastructure starts trading on the JSE
This follows Mahube appointing Petro Lewis as its FD to reinvigorate the focus of the organisation.
In July 2020, Mahube Infrastructure appointed Petro Lewis as its FD with the primary objective of reinvigorating the focus of the organisation and pursuing initiatives that can drive shareholder value.
On 4 November, Mahube Infrastructure started trading on the Johannesburg Stock Exchange.
At the Infrastructure SA project preparation roundtable, President Cyril Ramaphosa told delegates that investment into the delivery and upkeep of infrastructure projects would be critical to the country’s post-pandemic economic recovery.
Mahube Infrastructure owns five renewable energy assets – two wind farms and three solar PV farms – all of which were licensed by South Africa’s department of energy in the first round of bids of the renewable energy independent power producer procurement programme. The assets are all currently in operation, generating electricity, which they sell to Eskom in accordance with 20-year power purchase agreements.
“Mahube represents our enthusiastic response to the call to intervene in the infrastructure space in South Africa. We aim to make a meaningful contribution to infrastructure development and upkeep by innovative projects that can compete on a global scale,” says CEO Gontse Moseneke, who was also appointed in July. “We have a great foundation in the platform that has been established in the company over the past five years, from which we can build a truly impactful infrastructure business. My team and I bring a nuanced approach to attracting, unlocking and directing capital into infrastructure assets, and then in managing these assets to achieve superior performance.”
Mahube Infrastructure’s independent non-executive chairman, Eddie Mbalo, says he is pleased with the progress the company is making after a challenging few years for the company. “We have finally turned the corner in terms of achieving improved alignment between the interests of the shareholders, the operating team and the board.
“Under the executive leadership of Gontse and Petro, we have transitioned relatively smoothly towards internal management of the company’s existing business,” he added. “From our renewed exchanges with the key shareholders, we now have better clarity about what we need to do to unlock and enable the company’s ability to grow. The executive directors have attracted co-operation from several world class experts and have found commercial arrangements that avoid burning the candle at both ends. We are looking forward to seeing success from this team in short order.”