Experienced fund managers ensure solid performance and good governance

Grovest Energy Limited (GEL) is managed by majority black-owned EPC-agnostic management company, Decentral Energy Managers Proprietary Limited (DEM). DEM is guided by seven board members with over 80 years of experience in delivering robust results across energy-related and other fields.

Chairman, Non-Executive Director

Mafika Mkwanazi

Mafika holds two Bachelor degrees in Applied Mathematics and Science Electrical Engineering and is a seasoned expert in the mining and metals industry, having served as CEO as well as the NonExecutive Chairman of Transnet, Chairman of Letseng Diamonds and Non-Executive Director of Nedbank. He was also previously a Non-Executive director for Eskom, Stefanutti and Stocks and the Non-Executive Chairman of Hulamin. He is currently a Non-Executive Director of MSC South Africa and is also involved in 3 independent companies in the photovoltaic electricity industry.

Non-Executive Director, Investment Committee Member

Jeff Miller

Jeff holds a B.Com B.Acc CA, specialising in Accountancy and Finance and with over 30 years of investment experience, is a member of the sub-committee of SAVCA. He is a start-up specialist, having founded and sold numberous companies that include Brandcorp, KNR Flatrock, Balboa Finance, Born Free Properties, Eurosuit, Bride & Co, Redwood Capital and Seed Engine.

Executive Director

Luel Culwick

With a BSc degree in Industrial Engineering and a MSc degree in Sustainable Energy Engineering, Luel co-founded Sidala Energy Solutions, a renewable energy development and consulting firm which has developed four projects for the Renewable Energy IPP Procurement Programme.  He has deep energy experience and specialises in integrating the legal, technical, financial aspects of renewable energy projects.

Non-Executive Director, Investment Committee Member

Malcolm Segal

Malcolm holds a B.Com CA (SA) CPA (ISR) degree and is a member of the Special Credit Committee of the Industrial Development Corporation of South Africa, as well as the Listings Advisory Committee of the Alternate Exchange of the Johannesburg Securities Exchange. Previously, he held the positions of Managing Partner and National Executive Chairman at Grant Thornton Chartered Accountant and Business Advisors before going on to establish a private equity investment fund later acquired by Sasfin Holdings Limited.

Non-Executive Director, Investment Committee Chairperson

Elekanyani Ndlovu

Elekanyani is a qualified engineer; she graduated with a Bachelor of Science in Electrical Engineering from the University of Cape Town. She is professionally registered (Pr. Eng.) with the Engineering Council of South Africa (ECSA) and is a Member of the South African Institute of Electrical Engineers (MSAIEE). She is currently part of Aurecon’s leadership team as a Director responsible for the Energy Market across the African continent. She serves on several boards as a non-executive director and is a member of the Institute of Directors Southern Africa. She is also a member of an investment cooperative, Phato Investment Cooperative. Her experience in the energy sector includes petro-chemical, working on large scale infrastructure projects, refurbishment projects and green field renewable energy projects. It also includes project engineering, project management, project finance and business development with a power generation background.

Executive Director

Christian Bode

Christian holds two Master’s degrees in the field of renewable energy and is a co-founder of Decentral Group. Christian has focussed all energy into maximising development and equity returns to investors by entrenching himself in all commercial and technical aspects of the project pipeline. Being a project owner, he has developed a passion for deal making and has gained significant legal and commercial experience in project development and implementation.

Non-Executive Director, Investment Committee Member

Doug Smollan

Doug is Chairman of The Smollan Group, which employs over 50 000 people and has a presence in five continents. He was the second non-American to serve as the President of Young Presidents Organisation and now heads up the Consumer Goods Council of South Africa Anti-Crime initiative and is a pioneer of the Nelson Mandela Champion Within Program.

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