Revego Africa Energy Limited is Africa’s first YieldCo focused on operating renewable energy projects in sub-Saharan Africa

600 million people live without electricity in Sub-Saharan Africa

Revego is the sole limited partner that invests in one of the first equity funds to target the Sub-Saharan African renewable energy-focused sector. It is therefore well positioned to capitalise on sub-Saharan Africa’s (SSA) need to make major investments in the electricity sector required over the next 25 years.

Revego highlights

BEE Investment Vehicle

Current Fund Size of

ZAR2.0 Bn

The current size of the Revego Fund is ZAR2 billion, with Investec Bank Limited, UK Climate Investments (UKCI) and Eskom Pension and Provident Fund (EPPF) as cornerstone investors.

Why invest with Revego?

Focused on the electricity sector in Sub-Saharan Africa where there is a proven need for investment:

The current fund size of R2.0 bn, makes it a significant investor in the renewable energy sector in Sub-Saharan Africa.

R2.0 bn

Returns are projected to be defensive in nature, stable and tax efficient providing a high yield return profile comparable to being in between government bonds and listed property stocks.

The Revego Fund invests in operating renewable energy assets in the private market.

As an open-ended fund, the Revego Fund is constantly raising equity capital for additional investment as and when opportunities are identified, thereby avoiding any drag on cash.

The fund manager will be majority black-owned with an effective Black ownership.


Investec Bank Limited, UK Climate Investments (UKCI) and Eskom Pension and Provident Fund (EPPF) are cornerstone investors into the Revego Fund.

Fund Details

Target Return

CPI plus 5%-7%

Maximum Investment Exposure

Have no more than 10% of the enterprise value invested in projects that are either under construction or in development

Influence of Control

Shareholder and target company board level representation

Fund Details

Type of Investment

Target equity investments in the renewable energy sector in sub-Saharan Africa

Investments and Exits

Experienced Management Team that sources, executes and manages investments which are approved by the independent RFM Investment Committee

Long term stable returns

Provide investors with long-term sustainable returns with potential for capital growth

Our Experience Renewable Energy Team

The Revego Board consists of members with deep industry and corporate knowledge. The Board brings together a unique balance of experience in the renewable energy sector, in Africa and globally, along with fund management expertise and a significant commercial, legal and industrial track record in Africa. The Board members’ experience in the sector should ensure that Revego is the leading voice in renewable energy investment in Africa.

Dr Reuel Khoza


Dr Khoza is the President of the Institute of Directors South Africa and a distinguished leader and change agent at the forefront of transformation in the South African political economy. Dr Khoza is currently Chairman of Dzana Investments (Pty) Ltd, the Public Investment Corporation (PIC) and Assupol Insurance Group among others.  He has chaired the boards of Eskom Holdings, Nedbank Group, Globeleq, GlaxoSmithKline South Africa. He also served as a director of JSE Limited, Old Mutual Plc, IBM South Africa, Liberty Life Group, Sasol Oil, Nampak Limited and the Standard Bank Group.

Reyburn Hendricks

Chief Executive Officer

Reyburn is a joint controlling shareholder and manager of H1. Prior to this, he was a founding member of HJS Advisory Services (Pty) Ltd (subsequently acquired by Hosken Consolidated Investments) and was also a founding director of African Harvest Capital (now called Vunani Ltd), in its investment banking division. Reyburn also worked as an equity analyst and portfolio manager at Southern Asset Management.


Ipeleng Mkhari

Ipeleng is the co-founder and CEO of Motseng Investment Holdings (MIH), a diversified investment holdings group. A pioneering entrepreneur, she established the first black women owned CCTV business and subsequently founded MIH. She was a promoter of Delta Property Fund, a leading black managed property loan stock company. Ipeleng serves as the Chairperson of MPAMOT. She has served on various boards of unlisted and listed businesses, public sector agencies and non-profit organisations.

Laverne Chetty

Laverne is a consultant at Investec Bank Limited (Investec), with a focus on fund finance debt solutions for private equity, infrastructure and real estate funds that invest in Emerging Markets. Laverne is a qualified Chartered Accountant (SA) and Chartered Financial Analyst. Prior to focusing on fund finance, Laverne obtained significant experience in leverage finance and corporate finance. His transactional experience includes senior debt, mezzanine debt, leveraged buyouts, management buyouts, equity investments, M&A and equity capital markets.

Richard Abel

Richard is Managing Director of UK Climate Investments (UKCI). UKCI sits within the Green Investment Group, which since 2017 has been part of the Macquarie Group. UKCI is a partnership between the UK Government and Macquarie Infrastructure and Real Assets (MIRA) to invest £200m of UK climate finance funds in transformational green energy projects in sub-Saharan Africa and India. MIRA is Macquarie’s specialist real asset fund management business and the largest infrastructure fund manager globally with over $100bn of assets under management. Richard’s career in MIRA has included global and pan-European COO roles and asset management and transaction activity. Before joining Macquarie, Richard was a UK Senior Civil Servant.

Ruse Moleshe

Ruse Moleshe is an Infrastructure Finance Specialist with 23 years of experience in energy and infrastructure across Sub Saharan Africa. She is a  co-founder and managing director of RUBK (Pty) Ltd., an infrastructure advisory and consulting company. She has successfully completed work on the “regulatory review of the electricity market in South Africa towards crowding in private sector investment”  as a lead national consultant with the United Nations Economic Commission for Africa. Ruse has held leadership positions in government,  Development Finance Institutions, a commercial bank  and an Engineering, Procurement and Construction (EPC) company. She was previously the Head of Industrial Infrastructure, at the Industrial Development Corporation, where she structured and financed transactions in the renewable energy, water, telecommunication and transport sectors. Ruse has served as a Non-Executive Director of a private sector entity.

Shamila Grimwood

Shamilah is a partner of Bowmans and Head of Bowmans’ Banking and Finance Department and was previously Head of Bowmans’ Infrastructure Sector. Mrs Grimwood acts for a full range of clients from developers to government utilities. Her transactional experience includes the structuring and negotiation of PPPs, concessions, privatizations and off-take arrangements.

Peggy-Sue Khumalo

Peggy-Sue is the founder and CEO of Ebuhleni Group (Pty) Ltd, a black women owned and controlled investment holding company focused on key growth sectors such as the circular economy and the renewable energy supply chain. She has more than 18 years of financial services experience having initially starting her career as a fixed income analyst in the United Kingdom. She was an Executive at Investec Bank Limited leading Public Sector financing & B-BBEE opportunities. Peggy-Sue is the former CEO of Standard Bank Wealth South Africa and has extensive board experience. She holds a MSc Economics from the University of Manchester and took part in Harvard Business School’s Leadership Programme.

Professor Ahmed Mohammadali-Haji

Ahmed is a qualified Chartered Accountant and the Chair of the Accounting Practices Committee of SAICA. He is a Professor and the Subject Head of Financial Accounting at the University of Johannesburg (UJ). Ahmed is the UJ Chair of the JSE Proactive Monitoring of Issuer Annual Financial Statements. He is an author of several publications, research papers and books, and makes regular presentations (professional, thought leadership and technical). He has held directorships and audit committee positions of listed companies and currently holds directorships in various education companies.

About Revego Africa Energy Fund

The Revego Fund is a private equity fund and is structured as an en commandite partnership.

The Fund is a private equity fund and is structured as an en commandite partnership. The following parties are the primary role players in relation to the Fund: the Limited Partner (Revego Africa Energy Limited), the General Partner, the Fund Manager (Revego Fund Managers), the Investment Committee and the Advisory Board.

Target Fund Size

Target region and sectors

Generation, transmission and distribution projects

Portfolio of Companies

Khobab Wind Farm, 140MW

  • Khobab Wind Farm is located in the Hantam municipality in the Northern Cape province of South Africa
  • The project was constructed as part of the Bid Window 3 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP)



Installed Capacity


Acquisition Date

June 2021

Commercial Operations Date

December 2017


Mainstream Renewable Power

Revego Fund Managers

The Revego Fund is managed by Revego Fund Managers (RFM), with a mandate to invest equity into the renewable energy sector in sub-Saharan Africa

RFM will be responsible for sourcing and managing Revego’s investments in operating renewable energy
projects in South Africa, and the broader SSA. The Revego Fund appointed RFM as its fund manager in
September 2019. RFM has an effective Black ownership of 63.42%. In addition to an experienced management team, RFM has an
independent investment committee consisting of industry experts and experienced investment officers.




Homes powered




Energy generated in 2022




Greenhouse gas emissions eliminated p.a

Community Programs

ZAR 94


Invested in community programs in 2022

Sustainability is core to Revego’s mission and approach. Each project that Revego invests in supports socio-economic development by investing in local communities in terms of their community needs analysis. The projects enhance the participation of the wider communities, helping to transform the lives of marginalised groups in South Africa.

Special Needs School

Special Needs School in the Western Cape

Caters for students with learning difficulties, physical disabilities or behavioral problems in the local community

Youth Centre

IT training at a Youth Centre in Limpopo which is managed by LoveLife

The Youth Centre includes a computer lab, outdoor gym and serves a meeting point for social workers to engage young people

New Ablution Facilities

Newly installed ablution facilities at a high school in Limpopo

The toilets replace the pit latrines which previously posed a health risk to students

Local Farmer

Local farmer based in Limpopo cultivates vegetables for sale to a broad customer base

The farm employs community members throughout the year

Early Childhood Development

Teachers and learners celebrate the opening of their newly built ECD facility in Limpopo

The building includes additional rooms for teaching, ablution facilities and

Community Healthcare

Two vehicles purchased to be used by health workers in the district to enable access to occupational and physiotherapy services closer to communities in the Northern Cape


Contact us

If you are a shareholder of an operational renewable energy company who is looking for a fund to buy your investment or invest alongside you, Revego may
be able to provide you with this opportunity.

Contact Number

100 Grayston Drive,
Sandown, Sandton 2196


Investors – [email protected]