Mineworkers Investment Company (MIC) CEO, Mary Bomela, has been shortlisted as a finalist for the prestigious RMB Africa’s Fearless Thinker Award.
The award recognises exceptional women leaders across Africa who demonstrate innovative thinking, strategic vision, and fearless leadership in tackling social and business challenges. The finals will take place on 31 October 2024.
Bomela has been at the helm of MIC for twelve years, driving substantial growth, operational excellence, and transformation within the organisation.
Under her leadership, MIC has more than doubled its net value while fostering an inclusive and dynamic work culture. Bomela’s pioneering efforts reflect her deep commitment to gender mainstreaming, transformation, and creating opportunities for future leaders, particularly young women.
“It is an incredible honour to be named a finalist for the RMB Africa’s Fearless Thinker Award,” she says. “At MIC, our mission is not only to deliver sustainable returns but also to transform the lives of the beneficiaries we serve. Through our education and entrepreneurship programmes, we are committed to empowering young people, equipping them with skills that will enable them to shape their own futures.”
MIC operates as a black-owned investment company and generates income through strategic investments in sectors such as financial services, technology, media and industrials, creating a sustainable dividend flow for the Mineworkers Investment Trust to fund its social initiatives which benefit members of the National Union of Mineworkers (NUM).
MIC’s dividends contribute to initiatives such as skills and vocational training, tertiary education scholarships, and rural development. This model allows the benefits to grow over time and reach more beneficiaries. To date more than R730m has been disbursed directly to substantially change the lives of NUM members and their families.
In line with its impact investment strategy, MIC actively fosters opportunities for Black entrepreneurs in South Africa, with a particular focus on Black women. In 2021, MIC allocated R150 million through its early-stage investment vehicle, Khulisani Ventures, and encouraged Black, female-owned businesses to apply for funding. A further R150m has subsequently been allocated to fund more entrepreneurs.
Building on this commitment, in July 2024, MIC partnered with GrindstoneX, an incubator focused on empowering women entrepreneurs, to fund four Black, woman-owned businesses. Although these businesses fall below Khulisani’s investment threshold, MIC views this collaboration as a strategic opportunity to support ventures that are often overlooked.
MIC is an active equity partner and is committed to identifying, supporting, and growing technology-driven, innovative, high-growth businesses owned by Black women in South Africa. The collaboration with GrindstoneX is not just about funding; it’s about closing the gender investment gap, increasing diversity in funding, and contributing to South Africa’s economic growth.
Bomela’s work extends beyond MIC, with significant influence across multiple industries. She actively contributes as a non-executive director to companies in media, banking, mining, gaming, and healthcare, using these platforms to champion diversity, ethics, and transformation.
“I believe in the importance of women’s leadership in finance and beyond,” Bomela adds. “Mentorship and education are at the core of what I do, and it is my goal to see more women breaking barriers and leading with confidence. I am excited to see how our future female leaders will reshape industries and economies for the better.”
The RMB Africa’s Fearless Thinker Award celebrates women who exemplify resilience, courage, and visionary thinking. As a finalist, Bomela is recognised not only for her achievements at MIC but also for her dedication to building a more inclusive business landscape across Africa.
