Executive Chairman



B Compt (Hons); CA (SA); Advanced Management Program (Harvard University Graduate School of Business Administration).

Israel is the Executive Chairman of Kapela Investments & Kapela Holdings. He is the Chairman of the board of the following Kapela investees: Marsh (Pty) Ltd; SPX Flow Technology (Pty)Ltd; NECXON(Pty)Ltd. He is also a board member of BP Southern Africa (Pty).  He is also member of Council of the University of Pretoria.

He previously served on boards of other companies.

Israel has extensive leadership experience and was the first black person appointed as an Executive Director of ABSA Bank and being a member of its Exco. He had various responsibilities within ABSA). He is an ex CEO of SA Express Airways and of SARHWU Investment Holdings. Israel was, by appointment by Ministers of Transport, the first Chairman of the South African Civil Aviation Authority (Oct ’98 – Apr ’05). By appointment of the State Presidents Thabo Mbeki and Nelson Mandela, Israel served 2 terms as a Commercial Member of the Special Tax Courts (1996 – 2001 and 2002 – 2007). He is a founder member and past President of The Association for the Advancement of Black Accountants of Southern Africa (ABASA). He was among the first group of Non-Executive Directors of the Financial Services Board and the Policy Board for Financial Services.

He was an honorary Professor in the Department of Accounting and Financial Management at the University of Pretoria and the Professor of Extra Ordinaries in the Department of Applied Accounting at UNISA.

He is an avid golf player.

Non-Executive Director



Bacculareus Rationis (UNIN) converted to B.Compt (UNISA); MBA (De Montfort University: UK)

Daphne Motsepe was the Chief Executive for the Unsecured Lending cluster at ABSA until June 2012. Her portfolio included ABSA Card (both Issuing and Acquiring), Personal Lending business, Woolworths Financial Services, Small Business and Micro enterprise finance and Entry Level banking. She was appointed Chief Executive Unsecured Lending upon her return from Barclays in London where she was on secondment for almost a year. Prior to joining Absa, Daphne was Managing Director of the South African PostBank. She served on several boards of microfinance and development finance institutions including the Women Development Banking; Get Ahead; Small Enterprise Foundation; Land Bank of South Africa. Has served as a Non-Executive director on various corporate boards including Investec Bank, Highveld Steel and Vanadium, Thebe Investment Cooperation, Land Bank & South African Post Office.

Executive Director



BCom (University of the North), Dipl. Marketing Management (UNISA), MBA (University of Witwatersrand)

Makhup is a former CEO of the Saab Grintek Group. Under his leadership, the company’s organic growth increased by more than 50% for 2006; Profits were overachieved by more than 150% in 2006 and 2007; Revenue increased from R1.3bn in 2005 to R2bn in 2007. He was also the Divisional CEO of Grintek Technologies and former Deputy Chief Executive and  Director of CS Holdings. He has also held positions in IBM (Advisory Systems Engineer); Telkom (Executive) and Argil Intellect (MD). Makhup is a member of the Board of Directors of Tiger Brands.

Non-Executive Director



B Econ (Hons); M Comm (UWC); D Comm (Unisa)

Fatima is a registered Industrial Psychologist. Her current non-executive directorships include Foschini, Lewis Group and New Clicks Holdings. Her past non-executive directorships include Transnet, B2B Africa, Victoria and Alfred Waterfront Holdings (where she was the Chairperson) and Victoria and Waterfront Properties. She is a part-time Senior Professor at the University of the Western Cape (UWC), and is the Past Dean of the Faculty of Economic and Management Sciences at UWC. Fatima consults regularly to numerous organisations in the human resources area with emphasis on diversity management, selection and recruitment, strategic planning, training, facilitation and organisational development. She has travelled extensively and built up formidable networks in the public, private and academic fields. Fatima has also featured on the list of “Who’s Who of Southern Africa” for a number of years.



Executive Director




D Comm Business Economics (UP); Masters of Science (UFS); MBA (UP)

Henri has an completed an Executive Management Programme in Strategy at the Stanford Business School, and was the Gold Medal winner in 1988 for the Best MBA Student. He also ranks in the Top 10 MBA students in the 50 year history of the University of Pretoria’s (UP) Business School. Henri is the former joint CEO of Ernst & Young Management Consulting (where he turned around a loss making business into a profitable organisation), and is also the past CEO of Adcorp (which is listed on the JSE and has a market cap in excess of R1bn). He was also the Managing Partner of Markets and Accounts at E&Y for 5 years, where he led the team that introduced and managed an account centric or Key Account Management program. Sales at E&Y increased by a compound 38% per annum during his tenure. Henri was also responsible for the E&Y corporate strategy, and has advised numerous clients on corporate strategy formulation and implementation. Henri has significant networks in the private sector.




Executive Director





B Com Hons (RAU), CA (SA)

Johan is the past Managing Partner of Ernst & Young Corporate Finance, having successfully established the Mergers & Acquisitions and Project Finance divisions at E&Y during his tenure. He has advised on BEE transactions in excess of R5bn while at E&Y, and provided critical advice to corporate clients on their BEE partner selection and consortium formation. Johan has also raised investment capital for a number of transactions on behalf of BEE groups. Johan was a partner and investment professional in the New Africa Advisors LLP, a $120m private equity fund and also an investment professional at Sloan Financial services (a US-based asset manager). Johan has strong experience in deal origination, evaluation, negotiation and structuring and post deal value creation to portfolio investments. He has a significant network in corporate South Africa especially private equity funds and other funding institutions.









B Com Hons (WITS), CA (SA)

Claudia completed her articles at PriceWaterhouseCoopers (PWC) in 1996. She began her corporate finance career with Societe General. She later relocated to London to join Cavendish Corporate Finance and then the Financial Services Authority Listing Division. In January 2004 she joined Nedbank Capital in its Corporate Finance division, and managed a number of large transactions including the merger of Rothmans and British American Tobacco, the Nedbank R5.5bn rights issue, Tullow Oil’s acquisition of Energy Africa for R3.5bn, the Nedbank R3bn black empowerment scheme, the Nedbank R700m retail public offering and Enaleni’s R1.2bn capital raising. She provided the fair and reasonable opinion to the Altech Board on the offer made by Altron to Altech minorities. Claudia was a recipient of the Nedbank Capital Individual Achiever Awards in 2005, an award honouring the biggest and most high profile deal of the year. She also received the Nedbank Group Individual Achiever Award for 2005. After joing the Acquisition and Leveraged Finance team of Nedbank Capital in May 2008, she won the Nedbank Capital Individual Achiever Award for 2009.