Black Management Forum Investments (BMFI) has appointed Ramona Maria Grewan as chairperson of its board. She is the first woman to hold the position in the company’s 30-year history.
BMFI was established in 1996 as the investment arm of the Black Management Forum, the non-profit organisation that promotes black leadership in South African business. The company invests for both financial returns and transformation. Its portfolio, valued at about R650m according to Enterprise Africa, includes unlisted holdings in Computershare, Cable Tapes Africa, the Rosslyn Development Hub and Strategic Partners Group, BMFI’s first investment. It also holds listed stakes in Nedbank, Raubex and ADvTECH. Sanlam owns 30% of BMFI, and the company has set a target of growing its portfolio to R1bn.
Grewan is a public sector executive, legal academic and international affairs specialist with more than 22 years of experience in government leadership, governance and institutional management. She has led portfolios covering infrastructure, public employment, financial management and stakeholder engagement.
She holds a master’s degree in international law and diplomacy from the University for Peace (UPEACE) and a law degree (LLB) from the University of South Africa (Unisa). She also holds qualifications in executive leadership and infrastructure management.
Her international work has taken her to Geneva, The Hague and Brussels, where she has taken part in high-level forums on international law, arbitration, human rights, accountability and global governance.
BMFI said Grewan brings strategic leadership, governance experience, legal expertise and an international perspective to the board, drawing on more than two decades of work in complex institutions.
Her appointment comes as listed and unlisted companies in South Africa face continued pressure to improve gender representation at board level. It places a woman at the head of one of the country’s longest-standing black-owned investment vehicles as it works to grow its portfolio.