Third Way’s managing director, Fulu Makwetla, has been appointed as a member of the Southern African Venture Capital and Private Equity Association (SAVCA) board. Her election to the board of directors was made official at the SAVCA annual general meeting, which took place on the 2nd of October in Johannesburg.
SAVCA is an industry body that advocates for private equity and venture capital asset classes in Southern Africa. It fulfils its mandate by:
- conducting topical research;
- offering relevant training;
- hosting networking and relevant events;
- engaging in regulatory lobbying and advocacy on behalf of its members and the industry; and
- providing guidelines and standards for the industry.
Fulu was identified as a suitable candidate for her position based on her extensive industry and business experience. According to SAVCA’s CEO, Tanya van Lill, the elected board members are well-respected industry professionals who have been appointed to continue driving the association’s strategic objectives forward.
“The new board appointments complement a board that already comprises individuals that are uniquely positioned to contribute positively to the industry and country at large,” says Tanya.
As reported in the recent SAVCA 2019 Private Equity Industry Survey, South African private equity exhibited a considerable increase in investment activity in 2018, with the value of new investments and follow-on investments reaching a record-high of R35.4 billion, compared to an annual average of R15.2 billion over the preceding 10 years.
As a director of the SAVCA board, Fulu’s responsibilities will include attending strategic meetings to help the organisation meet its objectives; participating in decision-making as it pertains to the board strategy; and attending events aimed at promoting SAVCA and strengthening the private equity and venture capital industry, the expansion of which will have a positive impact on the economy and will accelerate job creation.
Congratulations, Fulu! We wish you all the best in this new and exciting opportunity to continue playing your role in growing the investment sector.