MIC CEO Mary Bomela To Step Down After 15 Years Of Service

The Mineworkers Investment Company (MIC) has announced that its Chief Executive Officer, Mary Bomela, will step down from her role on 28 February 2025, marking the end of a 15-year tenure that transformed the organisation.

Under Bomela’s leadership, MIC experienced remarkable growth, including one of its strongest financial performances in the 2023/24 financial year. During her tenure, Net Asset Value surged from R2.8 billion to R7.8 billion, and the company successfully executed numerous transactions. Over the past three years alone, MIC has deployed R2 billion into new investments, strengthening its presence in technology, financial services, and consumer goods.

In the past year, MIC expanded its investee portfolio by acquiring stakes in Chill Beverages and Tropic Plastic & Packaging, while reinforcing its commitment to black-owned businesses through Khulisani Ventures, an investment initiative dedicated to funding innovative, high-growth South African startups.

MIC credits Mary Bomela’s fearless leadership

MIC credits Bomela’s fearless leadership for much of the company’s success.

She introduced a new management structure, streamlined operations, and built a team of highly skilled professionals to drive innovation and expansion.

“Mary has been an exceptional leader and driving force behind MIC’s success,” said Tshepiso Poho, Chairman of the Board.

“Her leadership has transformed MIC into the respected company it is today, with a strong balance sheet and solid investment track record.”

Beyond her corporate achievements, Bomela has played a pivotal role in empowering women in finance, inspiring a new generation of female leaders.

She was recently named a finalist for the RMB Africa’s Fearless Thinker Award 2024, a testament to her visionary contributions to the financial services sector.

“As MIC turns 30, I am proud of what we have achieved together, and I am confident that MIC will continue to thrive under new leadership,” said Bomela.

“I thank the board, my colleagues, our investees, and business partners for their support and trust over the years.”

The company has already begun the search for its next CEO.

“After 15 remarkable years of dedicated service, we extend our heartfelt gratitude to Mary for her exceptional leadership and vision that have propelled the company to new heights,” concluded Poho.

“We wish her all the best in her future endeavours. As we embark on a new chapter, we remain committed to ensuring a smooth transition and ongoing success for our organisation.”