AWCA investment holdings (AIH)

A unique Professional Women investment company.

1 October 2018 – Ms. Gugu Sephamla’s Appointment


We would like to congratulate one of AIH board members, Ms. Gugu Sephamla on being appointed as the Corporate Affairs Group executive at Barloworld. She was announced to be part of the Executive Committee late last year and we are very pleased with her accomplishment. We wish her all the best on her new appointment.

1 October 2018 – Ms. Nomfundo Marivha’s Appointment

We would like to congratulate Ms. Nomfundo Marivha, our previous business analyst has currently been appointed as an associate director at Deloitte. She was a very important asset to the company, and her presence will be sorely missed. We wish her well on her new venture that she is about to embark on.

15 November 2018 – Reef Tankers gets Awarded


Reef Tankers awarded the 2018 CAIA Responsible Care Haulier award.

We would also like to congratulate one of our shareholding partners, Reef Tankers on being awarded the 2018 CAIA Responsible Care Haulier award. This award is in recognition of their year-on-year increase, with regards to their performance of their responsible care programmes and for sustaining a high safety, health and environmental performance over the last three year period.

The award was presented to the company at a function held at the Johannesburg Country Club where members of the Chemical and Allied Industries Association’s gathered. The CAIA, is an association that forms part of a worldwide network of Chemical industry associations, which seek to promote the continuous improvement of performance in the safety, health and environmental arenas, as well as to boost productivity and competitiveness of the chemical and allied industries in South Africa. 

AWCA Investment holdings is very proud of this achievement by Reef tankers, and we are delighted to be associated with a company that puts matters such as health, safety and environmental arenas at the forefront of their concerns. 

AIH boasts a number of skills and expertise within it's shareholder base.

Skills and expertise

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Sindi Mabaso-Koyana CA (SA) (Chairperson)

Sindi Mabaso-Koyana,

A Chartered Accountant, Sindi is the founder of The African Women Chartered Accountants. She later led the formation of the commercial arm, AWCA Investment Holdings (AIH) which she currently chairs.

She is the Managing Partner of AIH Capital the Private Equity firm of AIH.

AIH has built a portfolio of solid investments which include ReefTankers, Atlas panel Beaters, Hollard, Foskor and recently added Bidvest Protea Coin, Global Credit Agency and Futuregrowth Asset Managers.

She has extensive experience In the Public Sector where she served on a number of Sate Owned Companies as Executive and Non-Executive Director. She was Group CFO of Transnet and Prasa in the first phase of South Africa’s democracy. Her passion for the public sector was seen in her continuous contribution as Non-Executive Director in SOC’s including SANRAL, SAA, Eskom, PIC especially when there was a call by our new President Ramaphosa for professionals to serve in the reforms of the State Owned Entities. Sindi has also serve on listed and international entities where she chairs Audit & Risk Committees, Social & Ethics Committees and Remuneration Committees including MTN Group, Bidvest Group, Sun International Limited and was part of the Governance Reforms of FIFA where she was Deputy Chair and subsequently Chair of their Audit and Compliance Committee. She has had the honour to be the independent Chair of The Sugar Association of South Africa to drive the industry’s turnaround.  She is a Fellow of the Aspen Global Leadership Network, Member of International Women’s Forum , Advisory member to the Antwerp Management school( Belgium) and Innsbruck Management Centre (Austria). Other international business schools where she has delivered lectures include Duke University in North Carolina and Insead in France

She continues to contribute in the public sector by lecturing at the National School of Government.

Sindi is a former YPO member.


Nomavuso Mnxasana - CA (SA) (Non-Executive Director)

Nomavuso is a Chartered Accountant, having obtained her B Compt and Hons from the UNISA. She trained at Deloitte and Touche and after completing her articles she spent one year at Deloitte before joining SizweNtsaluba vsp (former Nkonki SizweNtsaluba). She spent 10 years as Senior Partner and Exco member at SizweNtsaluba VSP. She was specialising in consulting, internal auditing and attest function. She started the Corporate Governance division which housed the internal audit services as she identified this opportunity during the introduction of the Public Finance Management Act (PFMA). She was also involved in staff development and training as a staff partner for five years. Some of her major clients included, Eskom, SAA, MTN and Sentech.

Nomavuso was the head of the Imperial Group Internal Audit division and responsible for risk management in the Group. She successfully implemented risk management in the group both locally and internationally. As a result, she obtained a good understanding of the various industries within which the Imperial Group operates. Having recognised the shortage of black qualified Chartered Accountants in South Africa she introduced Training Outside Public Practice (TOPP) within the Imperial Group. Her current directorships include Nedbank, JSE, ArcelorMittal, and IDC. She has previously served on the boards of Landbank, Wiphold, Imperial Bank and Optimum Coal.

Precious Sibiya CA (SA) (Non-Executive Director)

Precious Sibiya CA(SA)  Precious is an accomplished executive and non-executive director with many years of experience in various leadership roles. She has more than 20 years corporate experience in finance, risk management, financial management, supply chain management and compliance. She is a seasoned professional who has worked in various roles across diverse industry sectors (viz logistics, energy, financial services, insurance, consulting) within private and public sectors. Her roles range from Internal auditor, Risk manager, General Manager Finance to Internal Audit Director.

She has served and continues to serve on various boards and audit committees in the roles of Board member, chairman, deputy chairman and committee member.

Her current boards and committee engagements are Ithala Development Finance Corporation, AIH, Ethekwini Municipality, National Credit Regulator,  Ekurhuleni Municipality, Financial Intelligence Centre and Reef Tankers (Pty) Ltd.

She has previously served on the boards and/or audit committees of Sentech, SkX, Parliament of South Africa, Gauteng Provincial Government, National Gambling Board, AWCA, Union Life, NEHAWU Investment Holdings (NIH), South African Reserve Bank Captive Insurance Company Limited (SARBCIC) , City of Johannesburg, Eskom Finance Company and Eskom subsidiaries in Africa (Umeme Ltd in Uganda, Elgas in Mozambique), amongst others.

Precious is a member of the South African Institute of Chartered Accountants and African Women Chartered Accountants. She completed her articles at Deloitte in Durban where she qualified as a Chartered Accountant. She is also a registered business rescue practitioner.

She is passionate about community development especially programmes involving children and rural women.

Melanie Elephant is employed as a Manager within the Diversified Lending and Leverage team of Standard Bank’s Investment Banking division. Her role includes the origination and execution of term lending transactions for corporates listed on the Johannesburg Stock Exchange. She has gained extensive experience in Black Economic Empowerment (BEE) both in her capacity as Operations Director at PKF BEE Solutions and Regional Executive at Empowerdex. Prior to joining Empowerdex, Melanie managed an audit practice as a sole practitioner, servicing both private and public companies. Melanie qualified as a Chartered Accountant in 2004 after completing her training contract with Deloitte & Touché in Johannesburg in 2003. In October 2007, Melanie joined the Board of African Women Chartered Accountants (AWCA). Her role in the Professional Development portfolio included the facilitating of Qualifying Examination preparatory workshops for members and hosting of the annual AWCA Career conference which showcases employment opportunities for members. She has also been responsible for fostering and maintaining key stakeholder relationships as part of the Strategic Alliances portfolio and spearheads the AWCA weCAre CSI project which aims to help disadvantaged individuals by providing them with monthly food parcels. In 2011, Melanie assumed the role of Deputy President, a position she held until her resignation from the Board of AWCA in 2015.

Busi Silwanyana (Non-Executive Director)

Busi Silwanyana  has an interest in corporate governance having held various executive positions in corporate, being a member of compliance committees and held positions in governance committees as an independent member. She looks to Share expertise, skills and experience with the organizations’ board members and executive team by contributing to strategy formation and direction of the company leveraging what I have achieved throughout my career in providing strategic financial expertise while driving business growth and profitability improvements for multimillion-dollar, global organizations.

The Value Add as a board member is as a commercially focused finance executive who  contributes towards the setting and implementation of strategy. She plays as oversight of risk management, policy formulation and implementation in my banking experience I collaborated with risk governance division in identifying key business risk, outline acceptable risk levels and development risk management policy as member in both credit risk and operational risk management committees. She Leverages strong business acumen with experience working with large scale businesses in effort to structure complex, high-value transactions across various geographies and Possess strong financial aptitude critical to the evaluate financial statements and concluding on the performance of the company.

Busi currently has board positions in Stefanutti stocks limited, YeboYethu investment (RF) Limited, Finbond mutual Bank and AVI Limited all at Independent non- executive director.

Olivia Serithi (Non- Executive Director)

Olivia Serithi CA(SA)

Olivia is an experienced Finance Executive with expertise in the following core areas:

  • Financial Reporting & Accounting;
  • Taxation;
  • Forecasting & Budgeting;
  • Investor Relations; and
  • Corporate Finance. She is a member of the South African Institute of Chartered Accountants and an MBA Graduate from the Gordon Institute of Business Science

She leads with passion and have an interest in people development and organisational development and transformation. I believe that my analytical mindset, positive and solutionist thinking and approach, good communication skills and compassion for people enable me to be impactful to the teams that she lead and to her colleagues, which is underpinned by my solid values. Furthermore. She is a believer in lifelong learning and continuous self improvement.

Olivia is Board of Director of Allergan Pharmaceuticals (Pty) Ltd

 was previously Non-executive Board of Director of African Women Chartered Accountants Investment Holdings (“AIH”) and has since came back in February of 2023. She was a Non-executive Board of Director of Atos South Africa, Member by invitation to the following sub committees of the Discovery Limited Board:

– Audit & Risk Committee – November 2008 to 2014

– Actuarial Committee – November 2008 to 2014

– Capital, Currency and Investment Committee – November 2008 to 2014

Ms. Alupheli Sithebe CA(SA)

(Non- Executive)