Nono Mkhondo is redefining leadership in South Africa’s investment sector. As chief executive of Value Capital Partners (VCP), a boutique activist investment firm managing close to $1 billion, she leads a model that proves capital is not passive — it’s powerful. A CA(SA) and Mo Ibrahim Scholar with an MBA from London Business School, Nono has spent nearly a decade building VCP into one of the country’s most respected activist investors, driving long-term value across some of South Africa’s most iconic companies. At VCP, she oversees the entire investment lifecycle — from sourcing opportunities and executing deals to unlocking value through active board engagement. She serves on the boards of PPC Ltd and Metair Investments Ltd, where she chairs key committees that align executive performance with shareholder value. Her track record includes a significant role in guiding companies through complex turnarounds, such as stabilising Sun International during lockdown and supporting strategy shifts at Tiger Brands and PPC. In an industry where only 18% of CEOs are women, Nono’s appointment represents progress — and purpose. For her, shareholder activism is about accountability, integrity, and building trust. “Character compounds faster than capital,” she says. “Over time, reputation and relationships are the truest form of wealth.”
ACHIEVEMENTS
- CA(SA) and MBA from London Business School, awarded with distinction as a Mo Ibrahim Scholar. I am a mother to a kind and curious five-year-old boy and have been married to my husband, who has been my biggest supporter, for almost 15 years. Despite our busy schedules, we enjoy a wonderful family life filled with love, laughter, travel, and constant learning.
- Having joined VCP in its infancy almost nine years ago, I am proud to have played a role in pioneering this engaged shareholder model in the South African markets. Seeded and anchored by the founder’s capital, we are now a thriving business with almost $1 billion deployed across our portfolio and a growing team.
- Effective 1 April 2025, I was appointed chief executive of VCP. According to the 27Four Survey, only 18% of CEOs and 16% of CIOs in the asset management industry are women. Women face substantial barriers to progressing into senior decision-making roles such as portfolio managers, with 76% of firms reporting less than 30% women representation.
