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Renowned as one of Africa’s influential business figures, Phuthi Mahanyele-Dabengwa, a savvy South African businesswoman and accomplished executive, has masterfully elevated Naspers’ $4-billion enterprise to unparalleled heights.
Her journey, starting as a determined 17-year-old in South Africa and culminating at the helm of a global business powerhouse, transcends conventional success. It serves as a compelling testament to her unwavering resilience and expansive vision, underscoring her pivotal role in shaping the trajectory of Naspers on the international stage.
A consummate learner, Mahanyele-Dabengwa’s academic journey—from Rutgers University to De Montfort University and the Harvard Kennedy School of Government—underscores her steadfast commitment to continuous growth.
Her professional journey ignited amidst the dynamic streets of New York City, where she ascended from a promising newcomer to the coveted position of vice president at Fieldstone Private Capital Group, specializing in infrastructure development. Importing this wealth of international expertise back to South Africa, she meticulously laid the groundwork for her forthcoming leadership triumphs.
Phuthi Mahanyele-Dabengwa’s entrepreneurial leap: The launch of Sigma Capital
In a pivotal moment in 2004, Mahanyele-Dabengwa assumed the role of managing director at Shanduka Energy, setting the stage for her eventual rise to the CEO position at Shanduka Group. Her leadership played a crucial role in securing significant deals, including high-profile partnerships with industry giants such as Coca-Cola and McDonald’s.
In a bold entrepreneurial move in 2015, she departed from the Shanduka Group, founded by South African President Cyril Ramaphosa, to establish Sigma Capital, an investment holding company. This decision not only showcased her entrepreneurial spirit but also underscored her unwavering commitment to shaping the business landscape in South Africa.
Phuthi Mahanyele-Dabengwa’s journey From Sigma Capital to Naspers
In July 2019, she ascended to the helm of Naspers’ $4 billion business in South Africa, marking a pivotal moment in her journey. Since then, Mahanyele-Dabengwa has not only sustained but propelled Naspers operations in South Africa to unparalleled heights, consistently generating revenues surpassing $1 billion.
Her leadership goes beyond mere financial metrics, finding its embodiment in the groundbreaking Naspers Foundry initiative—an entrepreneurial endeavor inaugurated in 2019. Although the initiative ceased operations earlier this year, its impact remains indelible.
Naspers Foundry offered unwavering support to South African startups navigating the challenging Series A and B stages, seamlessly aligning with Naspers’ strategic focus on fostering and advancing internet-based enterprises
Under her visionary guidance, Naspers has strategically targeted and acquired technology start-ups in South Africa, fortifying its position as a major investor in the local tech sector. The success stories include Takealot, South Africa’s largest e-commerce retailer, Mr D Food, a pioneering tech company in food delivery, and Media24, Africa’s leading media group.
Charting the course of change in South Africa’s business landscape
Mahanyele-Dabengwa’s influence extends beyond Naspers. As a non-executive director on the board of Vodacom Group, she assumes the role of chairperson of the remuneration committee, contributing her expertise to shape the company’s strategic direction.
In the dynamic world of business, where each decision reverberates through the economic landscape, Phuthi Mahanyele-Dabengwa emerges not just as a leader but as a steward of change, a visionary shaping the future of South Africa’s business ecosystem.
As she continues to navigate the ever-evolving currents of commerce, her story serves as an inspiration—a testament to the heights that can be reached with determination, foresight, and an unwavering commitment to excellence.
