R50M DEAL BOOSTS MINING DIVERSITY AND TRANSFORMATION

Black female-owned private equity investor Moshe Capital has acquired a 20% stake in Pragma, which specialises in delivering enterprise asset management services and solutions to mining businesses. The R50-million deal was funded by FNB and takes black ownership of Pragma to 56.8%.

“Moshe Capital partners with African businesses that can compete internationally, so Pragma is an excellent fit for our investment portfolio of mining businesses that transform the sector. Pragma’s so ware and technology systems add tremendous value to asset-intensive businesses like mining and it o ers training to boost asset and operational management,” says Mametja Moshe, founder and CEO of Moshe Capital.

Pragma serves an asset-intensive client base. Founded in 1990, the engineering services business incorporates proprietary technology into operations to monitor the health of assets and more importantly, predict potential failures to act timeously and avoid downtime. Clients span the mining, manufacturing, public infrastructure, oil and gas and original equipment manufacturing sectors. Pragma’s clients include industry leaders such as Anglo, Syntegon and Shell.

“Having a 100% black woman-owned investment partner in Moshe Capital boosts the transformation of our business in terms of black ownership. It is an added bonus that we gain access to a forward-thinking female leader with valuable advisory experience, as well as expertise in sectors with good growth prospects,” says Adriaan Scheeres, Pragma Holdings CEO.