Home » South African tycoon Tshepo Mahloele’s Harith receives approval in $3.2-billion expansion deal

South African tycoon Tshepo Mahloele’s Harith receives approval in $3.2-billion expansion deal

Harith-Mergence alliance commands $3.2 billion in infrastructure investments

by Omokolade Ajayi
Tshepo Mahloele

Harith General Partners — a private equity firm founded and led by South African businessman Tshepo Mahloele — has received unconditional approval from the Competition Commission for its acquisition of a 46 percent stake in Mergence Investment Managers, a subsidiary of Mergence Africa Holdings.

The Competition Commission’s decision, published on Tues., Nov. 21, revealed that the proposed acquisition by the Mahloele-led firm is unlikely to result in a substantial prevention or lessening of competition — the commission also disclosed that the transaction does not raise public interest concerns.

This approval comes more than a month after Harith General Partners’ announcement of its intent to acquire a significant stake in Mergence Investment Managers. Mergence Africa — the parent company of Mergence Investment Managers — currently manages an impressive R42 billion ($2.2 billion) in assets.

Harith-Mergence alliance commands $3.2 billion in infrastructure investments

The combined assets of Harith and Mergence which amounts to R59 billion ($3.2 billion) — in infrastructure projects and various other investments — position the alliance as a key player in driving infrastructure development and investment opportunities across the African continent.

This alliance will strengthen Harith’s position on the continent, building on its $630-million pan-African Infrastructure Development Fund (PAIDF) — it is also expected to propel Mergence toward new horizons in the financial services and infrastructure sectors.

Harith General Partners, co-founded in 2006 by Mahloele — a leading figure in the South African business scene — boasts an extensive track record in infrastructure investments across nine African countries.

Harith and Mergence poised to elevate Africa’s economic landscape

The private equity firm under Mahloele’s leadership is in the process of investing in South African Airways, solidifying its position in the African investment landscape. Its recent projects also include the development of the largest wind farm in Africa.

Mahloele‘s influence extends beyond Harith, as he also serves as the founder and chairman of the Lebashe Investment Holding Group — Lebashe has cultivated a portfolio spanning financial services, technology, media, telecom, and more, with a net asset value of R3 billion ($159 million). 

The recent greenlight from South Africa’s Competition Commission sets the stage for Harith General Partners and Mergence Investment Managers to make impressive contributions to Africa’s economic growth and development.

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