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The Pembani Remgro Infrastructure Fund was launched by Remgro and Phuthuma Nhleko in partnership with Herc van Wyk and Kofi Adjepong-Boateng who act as Chief Executive Officer and Senior Advisor, respectively, to the Investment Team.

Remgro Limited

Originally established in the late 1940s by the late Dr. Anton Rupert, Remgro Limited (“Remgro”) expanded its interests with investments in a number of other industries in South Africa, including banking; healthcare; consumer products; insurance; industrial; infrastructure, as well as media and sport. The company underwent a number of changes over the years, which resulted in three, independent flagship companies being created, all of which are currently under the chairmanship of Johann Rupert, namely:

  • Remgro Limited, an investment holding company, which is one of the Top 40 companies listed on the Johannesburg Securities Exchange (“JSE”), and has a diversified investment portfolio;

  • Compagnie Financière Richemont AG (“Richemont”), listed in Geneva and on the JSE. Richemont is an international luxury goods group, which owns brands such as Cartier, Dunhill, Van Cleef & Arpels, Piaget, Jaeger-LeCoultre, IWC and Mont Blanc; and

  • Reinet Investments S.C.A. (“Reinet”), listed in Luxembourg and on the JSE. Reinet is a closed-end, specialised investment fund. Key investments include British American Tobacco and Pension Insurance Corporation LLP.


More information on these three companies can be found on their websites.

Remgro’s market capitalisation at 30 June 2019 amounted to approximately USD7.6 billion.

Phuthuma Nhleko

Phuthuma Nhleko is the chairman and co-founder of the Phembani Group. Until March 2011, he was the group CEO of MTN, the sixth largest company on the JSE by market capitalisation and the largest company with a primary listing in South Africa. During his 10-year leadership tenure at MTN from 2002 to 2011, he transformed the company, driving its exponential growth through significant expansion into Africa and the Middle East. In May 2013, he returned as chairman of MTN until December 2019.

He currently serves as a non-executive director on the boards of BP Plc and Anglo American Plc.


His past directorships include the Nedbank Group, Old Mutual SA, Johnnic Holdings, the Bidvest Group and Alexander Forbes. He holds a BSc in Civil Engineering from Ohio State University and a Master of Business Administration from Atlanta University.


Phembani Group (“Phembani”) was formed in 1994 and has successfully evolved from a start-up black economic empowerment company to a resource, cement and energy-focused investment holding company. Phembani’s strategy is to focus on a small number of large investments where it can have a more meaningful influence on the strategy formulation and implementation of the investee company.

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