Nref
Nets in Cape Town

The target is R1 billion net asset value, of which about 15% has been achieved. NREF aims to acquire a large capital base for the benefit of its beneficiaries, thus providing sustainable income for their work of community upliftment.

NREF will achieve this aim by acquiring stakes in South African mining ventures, normally on a leveraged basis, and participating in the growth of the underlying assets. NREF seeks to partner with outstanding mining entrepreneurs in achieving our mutual objectives. Connections throughout the mining industry and financial services sector. NREF has successfully created a significant balance sheet in just five years, with slender resources. The Natural Resources Empowerment Fund is a broad-based BEE investor in the mining sector. A significant balance sheet has been created over the five years since formation in 2004, with interests in manganese, platinum exploration, alluvial diamonds and energy. NREF has an experienced and high profile board, including renowned black business and community leaders. Some of South Africa’s most experienced dealmakers and BEE advisors form the investment advisory team. NREF is a credible BEE partner for any mining company seeking meaningful broad-based participation in its business. The granting of mineral rights is subject to the approval of the Department of Mineral Resources which carefully studies the empowerment status of the applicant. She is also chair of the Women’s Development Foundation which she represents at the NREF. James Inglis Independent member of the board of trustees Mr Inglis was formerly managing director of Liberty Asset Management. He is currently chairman of Melville Douglas Investment Management, a Standard Bank subsidiary; director of NYSE-listed ASA Limited, and investment advisor to the Hollard Insurance group. Prior to that, he was involved in the development of the black trade union movement as director of the Workers' Education Project. He is also director of Ditikeni Investment Company limited. Khoboso Nthunya Member of the board of trustees Ms Nthunya is an experienced community worker who is a trustee of the Social Change Assistance Trust, a leading development agency in the rural areas. She was formerly General Secretary of the Self-Employed Workers’ Union in Durban. He was a co-founder of the Community Growth Fund, the first BEE investment fund, and the listed African Harvest group. He is currently investment advisor to Ditikeni in which capacity he has concluded numerous transactions. He has more recently been head of the broker network at Marco Polo Network, a global trading platform which he co-founded. He has a BSc Mining Engineering degree from the University of the Witwatersrand. Michael Hands Trust Secretary Mr Hands has an Honours in Bachelor of Accounting Science from UNISA, is a registered accounting officer, and has been running a successful financial consultancy practice for the past ten years, serving largely the development sector as well as small businesses. His extensive financial and administrative experience is founded on his completed articles and positions as Financial Manager at Young & Rubicam and Financial Manager at the Social Change Assistance Trust (SCAT). NREF Investment Trust is a trust registered at the Cape High Court under registration number IT1054/2004.