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The Investment Team

Adinah understands the specific needs and unique challenges that companies face in a range of sectors.

The Adinah team has considerable knowledge and experience in the telecoms, media, ITC, oil and gas, health care, construction, manufacturing and industrial sectors. Furthermore, we are able to call on a team of private equity, corporate finance, IT and financial associates and consultants in order to provide the correct level of experience and support to its investments.

The Adinah approach builds on the history of its founders who have successfully built and grown companies to scale, including IPO’s and major trade sales over the last 18 years in South Africa and Sub-Saharan Africa.

Tony Ruiters

Tony Ruiters

BA (UCT), HDE (UCT), Executive Diploma Business Studies (Stanford)

Tony is an entrepreneur and businessman with current and previous experience in building and growing businesses in the energy and petroleum, financial services, investment banking, corporate finance, asset management, media and ITC sectors.

Prior to going into business Tony served in the anti apartheid struggle and trade union movement (Numsa and Cosatu). After serving in various capacities in the public sector, he left to co-found African Harvest Ltd in 1997, a listed company on the JSE in the financial services sector. He has also been involved in setting up a number of companies in South Africa, East, West, and Southern Africa and served as an advisor to a number of significant BEE transactions.

Tony has previously served on a number of boards of listed and unlisted companies in a range of sectors and was a member of the African Venture Capital Association and a founding director of Imasa (now Asisa). Until the Telkom takeover, he was the non-executive chairperson of Business Connexion Group, a group he co-founded.

Lameez Mengel

Lameez Mengel

BBus.Sc (Honours), BCom (Honours), CA (SA)

Lameez holds a Bachelor of Business Science Finance (Hons) and BComm (Hons) (Accounting) degrees from the Universities of Cape Town (UCT) and Natal, and is a Chartered Accounted (SA).

After serving articles with Deloitte in South Africa, she worked in KPMG’s Advisory Services and Corporate Finance business in Johannesburg for two years. In 2011, she joined Barclays Africa, in the Corporate Finance/M&A team, gaining broad experience in M&A and general corporate finance. Lameez joined Adinah in July 2014.

Lameez currently serves on the board of the Adinah portfolio companies.

Azhar Dockrat

Azhar Dockrat

Azhar is completing his Bachelor of Commerce Degree (Financial Management) at UNISA.

Azhar joined Adinah Capital Partners as an intern in 2014. He successfully completed his internship and has joined the Adinah team as a junior analyst in 2016.

Senior Gwangxu

Senior Gwangxu

Senior supports the Adinah team as its office manager. Senior has several years of experience the logistics, maritime and oil and gas industries and been involved in start-ups in the asset management, private equity and venture capital industries.


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Adinah Capital Partners is an investment management company focussed on investing in private companies and taking advantage of unlisted investment opportunities in new and old companies that are innovative, disruptive and solve structural inefficiencies in the value and supply chain of companies and economies.

The Adinah bespoke investment solution strives to generate an attractive risk adjusted return and create lasting value for the companies in which we invest and for the communities with whom we interact. We believe that this will ultimately lead to sustained value creation for investors in the medium to long term through greater job creation opportunities, better paying jobs, enhanced working conditions and improving the skills of workers.

Our unique approach to investing and business, our problem solving abilities and willingness to work with investors, allows us to target optimal risk adjusted returns irrespective of the sectors we invest in or the prevailing market conditions.

Most importantly, Adinah and its staff are always guided by the principle of serving the needs of its investors and clients with a culture that values integrity, professionalism and a passion for achieving the extra-ordinary.

Adinah was founded in 2013 with the sole focus of making private company, start-up venture and tactical investments in South and Sub-Saharan Africa. It was consciously set up as an owner led and managed, “new” South African company, cognizant of the dignity and responsibility towards the countries and its people in which it conducts business.


Adinah views itself as the investment partner of choice!

Our investment approach pre-empts and invests ahead of the curve with a core focus on innovation, new technology, and revolutionary industrial and business processes that are evident in the companies we seek to invest in.

Adinah is and wishes to be a participant and not a victim of the rapidly changing global business environment. Our investments in established businesses converges with our passion for innovation. The belief is that this will ultimately create a vibrancy that is sorely lacking in the industry and the sector.

The Adinah investment solution is designed to have a positive social impact based on our approach to transformation as a process of restoring dignity and humanity beyond race, ethnicity and culture. The Adinah investment approach and approach to transformation addresses structural impediments around poverty alleviation, decent living and working conditions, education and training. Adinah is and wishes to be a participant and not a victim of the rapidly changing global business environment.


Adinah views transformation as an integral function of the business and not only a scorecard compliance exercise; striving to represent a new South African company, neither black nor white but inclusive of the vibrant and dynamic mosaic of people living at the tip of Africa. We aim to serve and be of service to all stakeholders.

Our approach, whilst being compliant with the BEE codes and general ESG requirements, views transformation as an approach that transcends the boundaries of racism, gender and culture. It speaks to dignity at work, at home and in society. As South Africans we know and have learnt that freedom is not enough when poverty, unemployment, racism, hunger and degradation haunts our cities and townships. We aim to help make things better, not just freer.

We need new imaginations, new routes and new solutions to redress the challenges of inequality, poverty, xenophobia and chauvinism. It's about access to education, training as well as redressing the past's issues both economically and spatially. We still live in ‘apartheid spaces’ and we behave accordingly.

Adinah everyday, wherever it invests, influences leaders and management in its companies to endeavour to follow this approach. We must be bold and have courage, and with patience, transform at the point and place we have chosen. Everyday when we come to work we intend to be the change.