(Ecofin Agency) - South African investment fund manager Mahlako Financial Services announced an investment of R1.5 billion ($103 million) in the energy value chain.

“This is a 100% black female-owned energy fund with a mandate that expands beyond renewable energy, to include gas and energy services sectors, as we endeavor to tackle, disrupt and transform SA’s energy sector,” said Makole Mupita, Co-founder of Mahlako Financial.

Before this initiative, the company already launched a R1.5 billion fund focused on the South African energy sector. The vehicle, called the Mahlako-a-Phahla Energy Fund (MAPEF), aimed to bridge the investment gap in the energy sector, but also to seize opportunities in the sector.

The new vehicle will not only allow black investors to own assets in the energy sector but will also help the rainbow nation reduce its dependence on a few primary energy sources to diversify its energy mix.

Chamberline Moko