Find out more

About Us

Khulasande Capital is a black-owned and controlled private equity and investment vehicle.

Khulasande, which means to grow and multiply, is dedicated to the growth of South Africa through Broad-Based Black Economic Empowerment.We are a credible, commercial BEE partner. If you are a South African enterprise wanting to grow, we can help you do so.

  • Khulasande contributes to the broad-based South African society and economy
  • 51% of voting rights and economic interests vested in hands of Black South Africans.

Who we are

Khulasande Capital Partnership I

Khulasande I is a partnership between the Entrepreneurship Development Trust (EDT) and the Bud Group.

EDT is a charitable trust with Black beneficiaries focusing on the development of the South African economy through educational and entrepreneurial activities.

The Bud Group is a diversified business of scale and relevance operating across chosen platforms including, Chemicals and Minerals, Industrial Services, Building Materials, Financial Services and Industrial Supplies.

The Bud Group is present in 9 provinces in South Africa and operates in 12 countries in Africa.

Khulasande Capital Partnership II

Khulasande II was created as a partnership between Investec Limited and the EDT.

Investec provides a wide range of financial products in South Africa through its Specialist Banking, Asset Management and Wealth and Investment divisions.

Value Proposition

Your enterprise will enjoy a competitive advantage due to us being a B-BBEE vehicle with access to funds and the backing of prominent investment teams in the country.


Khulasande Capital Founder & CIO

Sthembile Nkabinde

Sthembile Nkabinde is the founder of Khulasande Capital. She is a qualified chartered accountant and has 9 years auditing, corporate finance, leverage finance and private equity experience. After qualifying with PricewaterhouseCoopers, Sthembile joined the corporate finance division of Investec. She later joined the Private Capital team dealing with debt and equity funding in the unlisted space.

Investment Executive

Zola Tsotsotso

Zola Tsotsotso is a qualified chartered accountant with 13 years’ post articles experience in investment banking and private equity investments which she gained at RMB in the corporate finance and resource finance divisions and Shanduka Group, which later merged with Phembani Group. Zola joined Khulasande in September 2018 and holds an MBA from INSEAD.

Investment Committee Member

Fani Titi

Fani Titi is the founding CEO of Kagiso Media and the founding chairman of the private equity firm Tiso Group. He is the joint CEO of the Investec Group.

Investment Committee Member

Stephen Koseff

Stephen Koseff is the former CEO of the Investec Group, as well as non-executive director of the South African Banking Association. Stephen was former non-executive director of the Bidvest Group and the JSE, as well as former chairman of the Independent Bankers Association.

Investment Committee Member

Ishara Ramsunder

Ishara Ramsunder is the founder and CEO of Catalytic Advisory. She is a qualified chartered accountant and has over 20 years of local and international experience ranging from auditing, corporate finance, leverage finance, private equity and debt capital markets. She serves as a non-executive director of Idwala Industrial Holdings.

Investment Committee Member

Vincent Langlois

Vincent Langlois was employed at Investec Bank in 2001 in the Private Equity Division as a Consultant; in November 2009 he was appointed Head of Principal Investments Division. He was the IEP Group CEO from January 2016 to June 2017. He is a qualified CA (SA) with a MBA from Wits Business School.


Entrepreneurship Development Trust

The EDT is a partner in Khulasande I and Khulasande II

The EDT is an active and credible development vehicle for delivering innovative entrepreneurial activity and educational enrichment that contributes to South Africa’s upliftment.

The value created in Khulasande will contribute towards benefiting the EDT and therefore uplifting its beneficiaries.

Bud Group

The Bud Group is a partner in Khulasande I.

The Bud Group is diversified business of scale and relevance operating across chosen platforms including, Chemicals and Minerals, Industrial Services, Building Materials, Financial Services and Industrial Supplies.


Investec is a partner in Khulasande II.

Investec is an international specialist bank and asset manager that provides a diverse range of financial products and services to a select client base in three principal markets: the UK and Europe, South Africa and Asia/Australasia.

Investec focuses on delivering distinct profitable solutions for its clients in three core areas of activity, namely: Asset Management, Wealth & Investment and Specialist Banking.

Investment Mandate

Khulasande partners with enterprises that:

  • Demonstrate a profitable track record
  • Are cash-generative
  • Are significant players in their respective sectors
  • Have good growth prospects
  • Have strong and passionate management teams that are eager to partner with Khulasande to grow their businesses
  • Are looking to build long-term partnerships
  • Are based in South Africa
  • Embrace transformation

Khulasande does not invest in:

  • Start-ups
  • Turn-arounds
  • The agricultural industry
  • The property industry
  • The primary mining industry (excluding mining services)

Khulasande requires a minimum shareholding of 25%, although smaller stakes will be considered where there are minority protections and we invest next to acceptable partners.

Investment Portfolio

Bud Chemicals and Minerals has established itself as a major operator in the manufacturing, importing, stocking and distribution of chemical products. The Group encompasses the following leading companies:

  • Ferro SA
  • Idwala
  • NCP Chlorchem
  • Cerebos
  • CJP Chemicals
  • Botash
  • Walvis Bay
  • FFS Refiners

Bud Industrial Services was created through the integration of a number of South Africa’s oldest and most established industrial brands. Group companies include:

  • Goscor
  • Concord Cranes Group
  • Uni-Span
  • Prowalco
  • Augusta Steel
  • Afrit

ClaytonCare is a sub-acute rehabilitation medical group providing comprehensive inpatient treatment and care.

Barrows Khula specializes in designing and manufacturing retail point of sale visibility solutions within the Fast Moving Consumer Goods sector

The Afrit Group provides a comprehensive trailer solution to the market including trailer manufacturing, rentals, insurance, short-term financing and second-hand trailer sales services.

Clover is a branded food and beverages group with a presence throughout Southern Africa

Our Impact

The Entrepreneurship Development Trust

EDT’s objectives are to give back to the nation by providing educational and entrepreneurial enrichment to previously disadvantaged South Africans.

The Entrepreneurship Development Trust



Promaths offers extra tuition for Grade 10, 11 and 12 learners in Soweto, helping them improve their performance in Maths and Science. The Promaths model, in partnership with other funders, has seen 12 years of extraordinary results and currently funds eight centres across South Africa.

The impact the programme is having on the children and the larger communities in which they operate is inspiring. To date, over 5 000 school children have been through the programme.

High School Scholarships


This initiative provides students with scholarships to study at Johannesburg’s best high schools. Students who show academic excellence and are in financial need are identified and supported.

Young Entrepreneurs Trips

EDT provides young and upcoming entrepreneurs with the opportunity of getting exposure to other entrepreneurs and start-ups in global hubs such as San Francisco, Helsinki, and Detroit amongst others. They do this by exposing them to leading expertise in various fields, enabling them to develop networks that contribute to their personal and business growth.

The EDT has affected over 70 young entrepreneurs through this initiative.



If you would like to get in touch with us, please fill out all of the fields the following form.