Hangala Group enters private equity space

The Hangala Group, a diversified company with interests in financial services, construction, properties, agribusiness, transport and resources has through its financial arm, Hangala Capital, entered the private equity business to exploit the expected growth in liquidity as the effects of the new Regulation 29 of the Pension Fund Act materialises.

The Hangala Capital Fund and Hangala Capital Private Equity were recently registered and approved respectively as a special purpose vehicle (SPV) and as an investment manager by Namfisa, the financial services supervisory authority.
The Hangala Group has teamed up with Prescient Global, a fully-owned subsidiary of Prescient Holdings, as both a technical partner and a 40% shareholder in Hangala Capital Private Equity (Pty) Ltd with the balance of shares being held by Hangala Capital.
Prescient Holdings and Hangala Capital have already been in partnership since 2011 when they formed EMHPrescient Investment Management for their asset management business in Namibia. EMHPrescient has now close to N$500 million assets under management and is growing. Prescient Holdings is part of Prescient Limited, a JSE listed, Cape Town based global investment company with over N$120 billion assets under management.
“We are excited to enter the Namibian private equity space where we hope to contribute to capital market stimulation and development, help grow the country’s entrepreneurs and their businesses and at the same time secure both solid returns and preservation of capital for investors in the Fund. The aim of the Fund is to invest in sectors with high returns but those that will also create jobs, contribute to the industrialization of Namibia and thereby complement government efforts in poverty eradication,” said Dr Leake S Hangala, Executive Chairman of Hangala Group.
Mr Herman Steyn, Chief Executive Officer of Prescient commented that, “we at Prescient are looking forward to adding private equity to the portfolio of our businesses in Namibia and with the relationship and experience we have built up with Hangala Group over several years, Prescient will bring its creativity and innovation in managing the Fund through Hangala Capital Private Equity, both as a shareholder and a technical partner”.
Hangala Capital Fund’s Board of Directors is constituted of independent and distinguished professionals with a wide range of experience and is chaired by Ms Ulla von Holtz and includes Mr Joseph Hailwa, Ms Melanie Allen and Ms Gloria Kapingana.