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"Nozala Women Investments is an intergenerational company born out of a vision to make a meaningful contribution towards building a lasting legacy for women in Africa.” 

Nozala Women Investments (NWI) is a 100% black female-owned and led investment holding company with an innovative approach to business in developing and executing growth strategies for its investee companies. With an intergenerational view on value-creation, the company’s philosophy is to support equity investments where there is scope for strategic operational involvement through value-adding activities.

To achieve this, we acquire strategic investments in key sectors of the economy from manufacturing and Agri-tech to renewable energy and technology industries. Our philosophy and approach to diversification is to ensure exposure to high-quality, high-growth assets across a variety of sectors in order to develop a robust and resilient portfolio that will allow us to approach the present and the future with confidence.

In focusing on investments that offer value and returns, we meet our dividend commitments to shareholders, including the four not-for-profit organisations and trusts that form part of our broad shareholder base - the Nozala Trust, National Movement of Rural Women, Muthande Society for the Aged, Ijelo Labafazi/Ethiopian Episcopal Church Women’s Movement. Our shareholders continue to amplify the important mandate of creating an intergenerational legacy for the sustainable economic participation of women. Our main goal is to continue to evolve as a premier empowerment company led and controlled by women and build long-term sustainable value for our investees and the future of the African continent.


Founded to pursue new investment opportunities and continue the legacy of Nozala Investments, Nozala Women is an extension of Nozala Investments, which was established in 1996 as a broad-based black women-led investment company. 


Nozala Women was incorporated in 2019 through a restructure of the shareholding and operations of Nozala Investments and serves as a vehicle for future investments. Founding members of Nozala Women include shareholders and management who have a strong track record gained through the active management and growth of Nozala Investments’ portfolio since inception in 1996.


Nozala Women Investments has continued to evolve and has accelerated growth and stimulated the economy and communities. Our investment approach has evolved with the growth of our portfolio, and we focus on businesses in key sectors of the economy that we believe will deliver strong sustainable returns. 

1996 - 1998

Nozala Investments was founded in 1996 by 10 founder members, women groups and unions.

Concluded, most notably, acquisitions of Johnnic Industrial Corp, Fedics Group, Education Investment Corp and Radio Jacaranda.

1996 - 2000

During 2003, Nozala Investments was allocated Telkom shares, upon the initial public offering on the JSE, as settlement for funding provided to Ucingo for the acquisition of a 3% shareholding in Telkom.

Issued 20% shareholding to Nozala Trust, as well as an additional 20% to other BEE shareholders after exiting institutional investors.

2003 - 2006
2011 - 2015

Concluded the acquisitions of Woodlands Dairy, Tsebo Outsourcing Group, Sasol Oil, Capitec Bank, PPC and Exxaro Resources through various consortium groupings.

Reinvestment in Exxaro and Woodlands.

2016 - 2019
2019 - 2021

Nozala Investments restructure and founding of Nozala Women Investments. Reinvestment in Kyocera.

Image by Joel Filipe

“As Nozala Women we want to be an economic catalyst for change and transformation while creating an indelible footprint and empowering communities in South Africa and beyond.”

Salukazi Dakile-Hlongwane
Chairperson, Nozala Women Investments



// Philosophy

  • Support equity investments where there is scope for strategic operational involvement through value-adding activities.

 // Mission
  • Ensure economic advancement for women by promoting constructive business partnerships with leading business entities;

  • Being at the forefront of fostering women entrepreneurship in the South African context;

  • Proactively developing businesses in which it is invested through the establishment of a mutually beneficial strategic partnership; and

  • Ensuring that the wealth and prosperity of South Africa’s private and public sectors benefits women from disadvantaged communities, through its initiatives.

// Investment Approach

Provide predictable returns and long-term value through strategic investments in high quality assets and high-growth sectors such as:

  • Information and Communication Technology

  • Renewable Energy

  • Manufacturing, Industrial and Consumer Services

  • Healthcare

  • Mineral Resources’ services and technologies and

  • Agri-tech

// Vision

To become a leading women-owned and led investment holding company and a partner of choice in driving significant value for our investees, communities, and the economy. As Nozala Women Investments, we want to be an economic catalyst for change and transformation while creating an indelible footprint and empowering communities in Africa and beyond.

// Our Values

Everything we do at Nozala is guided by our strong values which define our decisions, operational ethos, and culture. These values have been the core of Nozala Women since inception and are grounded in sound principles which ensure ethical business practices underscored by consistent partner satisfaction. 

  • Integrity – having the highest ethical standards and being honest, trustworthy, and transparent

  • Empowerment - creating an environment that empowers our people and investee companies 

  • Partnership – working collaboratively with stakeholders to create value 

  • Sustainability – being consistent, reliable, and focused on realising long term objectives from a business, economic, environmental and governance perspective

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