Zungu Investments Company and Mergence Investment Managers have invested in SA’s only privately owned coal-fired power station, Kelvin Power Station. Located in the City of Ekurhuleni, Kelvin Power is said to provide 10%-14% of Johannesburg’s power. The Competition Commission has approved the purchase of Aldwych by Harith InfraCo — whose shareholders are the Government Employees Pension Fund (GEPF); Development Bank of Southern Africa, Mergence, Zungu Investments and Harith General Partners. Harith has a 46% in Mergence Investment Managers. Aldwych is an investment holding company which invests in assets that generate and deliver energy in various countries across Africa.
![](https://www.mergence.co.za/wp-content/uploads/2021/09/IOL-News-logo-t.png)
Absa CEO Arrie Rautenbach steps down as the group’s valuation continues to lag that of its peers
Commenting on Absa’s results and the surprise announcement of CEO Arrie Rautenbach stepping down, Mergence Senior Analyst Radebe Sipamla said