About
Core Team
Kerwin Rana – Managing Director & Chief Executive Officer
Kerwin holds a B.Sc. (Chemical Engineering) and is a Pr.Eng. with the Engineering Council of South Africa. He attended the Wits Business School, the Gordon Institute of Business Science and the London Business School, UK in attaining his executive education. Kerwin has 23 years of minerals and energy resource industry experience in Southern and East Africa including being the Head of New Business for De Beers, the General Manager of Kimberley Mines and a founding director of Sunbird Energy.
Dorian Wrigley – Managing Director
Dorian, a founder of Umbono, is a Civil Engineer, Pr.Eng. Dorian has 25 years experience in the mining and energy industry ranging from investment management, turn around strategies and investment banking activities such as capital raising, corporate restructurings, BEE transactions, mergers and acquisitions and disposals for major and junior mining companies.
Zenia Smith – Chief Legal Officer
After completing her articles, Zenia joined Umbono Natural Resources as in-house counsel. Zenia gained experience in corporate finance, minerals and mining, deal structuring as well as development of mineral projects from greenfield exploration to the completion of the bankable feasibility phase. Zenia served as company secretary to the various group companies. She specializes in mining law, corporate and company law as well as compliance and regulatory advice. Zenia has experience in drafting, vetting and negotiating agreements, including M&A’s from negotiation through to implementation.
Dr. Sakhile Ngcobo – Corporate and Regulatory Affairs
Dr. Ngcobo has a Ph.D. in Business Management specializing in the Mining Industry in South Africa (Wits Business School). His key qualifications are in Mineral Trading and Exports, Shipping, Mining Policy, Agricultural Finance; Corporate Social Responsibility, Social Impact Assessment, Rural Development and Policy Advocacy. He served on the board of African Thunder Platinum and was the De Beers executive responsible for the successful management of the restructuring and disposal of mines through effective stakeholder engagement, community and media relations.
Phiwayinkosi Mbuyazi – Director
Phiwayinkosi, a founder of Umbono, holds a B.Sc. (Eng.) and a B.A. (PPE) from Oxford. He worked for De Beers for a number of years, initially in commissioning the Venetia Mine, later in diamonds marketing in London and in general management. Phiway has participated in various investment banking and advisory activities for the Umbono Group and its clients, and has been instrumental in Umbono’s investment acquisitions in South Africa.
Richard Montjoie – Technical
Richard holds a B.Sc. (Hons) in geology from the University of the Witwatersrand, South Africa, and is the Umbono technical lead executive. He has been involved in all stages of mining development, from heading up greenfield Ni-PGE and diamond exploration projects in the Canadian Arctic, to to brownfield exploration projects on the Platreef in South Africa, as well as project managing prefeasibility and feasibility studies. He has diverse experience in the various aspects of mineral rights and environmental licencing and community liaison.
Sector Focus
Owner and developer of Greenfields Exploration Projects
- Concept targeting and exploration program design and execution;
Advanced stage exploration and definitive feasibility studies
- Designing and managing drilling programmes – resource into reserve category;
- Designing and managing full definitive feasibility studies;
- Facilitating mining right application, IWUL and environmental authorisations;
Near production mining assets
- Capital raising;
- Managing owners team through final engineering design, construction to production;
Owner and developer of Renewable energy – Solar
- Developing IPP opportunities;
- 1MW to 60MW ;
- Underpinned by 20-25 year Power Purchase Agreements;
- Recently reached financial close on 55MW Solar PV EPC and O&M of which we own 40%;
Natural Gas & LNG
- Major shareholder and Operator of the Ibhubesi Gas Project – Block 2A Production Right on domestic LNG development track;
Leaders in Transformation
Leaders in Transformation (LIT) owns a 5% shareholding of Umbono South Africa, 100% financed by Umbono dividends since its inception in 2006. LIT specialises in leadership training based on biblical principles. We mentor and network with students and provide career support. LIT currently impacts over 2,500 students at premier South African Universities both in Johannesburg and Cape Town.
Inhlakanipho Education & Development Trust
IEDT owns a significant shareholding in Umbono South Africa, largely financed by Umbono dividends since it’s inception in 2002. The trust selects highly gifted students from previously disadvantaged homes and funds them to attend top schools in South Africa while providing mentorship and holding an annual leadership development camp. Over 40 students have been funded to date (50% female, 100% youth). Further programs are in place to strengthen and improve schools linked to communities where our energy and mining projects are situated.
The programme has produced some stars: MIT named a minor planet after Siyabulela Xusa for his work in rocket fuel innovation. He created a revolutionary new fuel cell technology while graduating at Harvard. He came first place in Intel’s young global innovators awards in 2007.
Our first student intake in 2002
12J Structure
Qualifying Investee
- Benefits from the lower cost of funding;
- Less risk attached to equity than standard debt obligations;
- Needs to be a South African resident and not a controlled group company;
- Unlisted unless junior miner;
- Some exclusions (e.g. investment vehicles, fixed property etc.);
- Book value after
investment to be; - Less than R500m
in the mining sector; - Less than R50m
in other sectors;
Self Structured Investments
Given the benefits of a 12J structure an opportunity exists to:
- Enhance investment returns
- Reduce cost of equity funding
- Create a more robust business case
Umbono is able to work together with entrepreneurs looking to raise capital for their new or existing business ventures in such a way that it makes the offering to their investors significantly more attractive.
These offerings require a high degree of tailoring and customization but always result in value for the investors, the entrepreneur (the investee) as well as the venture capital fund.
The 12J benefit significantly increases the size of the investment pie allowing a sharing of value and upside between the parties.
IPP Opportunities
No upfront capital cost and reduced exposure to Eskom increases
Aligns IPP objectives with business objectives – warranties and performance over full term of PPA
Good corporate citizen – committed to green energy and BBBEE development
Predictable power costs with low annual escalations
Full flexibility to retain, increase or decrease investment in IPP
Competitive PPA price through accessing competitive funding sources – 12J and non recourse debt
Reduced risk, pay only for performance against kWh produced
Retain focus on core business, whilst energy experts deliver on EPC, operations, maintenance, repairs etc.