Khudusela Pitje
Khudusela Khudu 'Makwe' Pitje (born 19 October 1974) is a South African businessman.[1] He is the founder and executive chairman of New GX Capital, which has interests in investment and advisory services driven by shareholder value creation.[2] Since 2009, he has been the founder of the HM Pitje Foundation. He sits on several company boards that focus on Telecommunications, Health Tech, Energy, AI, Courier services, Waste and Supply Chain management.[3][4]
Early life and education
Khudusela Pitje was born to Hezekiah 'Mothibe' Pitje, the first Mayor of Mamelodi, who had previously been a kitchen boy and who was later a businessman who set up the first Post Office in Mamelodi and owned one of the first cinemas in the township.[1] It was from such business endeavours that Khudusela learned basic accounting principles from his father, as well as first-hand exposure to giving back to marginalized communities.[1]
He earned a Bachelor of Commerce in Accounting at the University of Witwatersrand and graduated as a Chartered Accountant from the University of South Africa.[1]
Career & entrepreneurship
In 1999, he became an auditor for PricewaterhouseCoopers — a position he held for 3 years.[1]
In 2002, he joined JP Morgan Chase in London as an Accounting Analyst — a position he held for 2 years 9 months.[1]
In 2005, he became the founding partner of New GX Capital with the assistance of Absa Capital private equity, a division of Absa Bank Limited.[1]
In 2007, he became a co-founding partner of Dark Fibre Africa (DFA), leading the transformation of the Telecommunications & Fibre sector in South Africa.[4] Dark Fibre Africa is the 2nd largest fibre company in South Africa.[5] Furthermore, in 2007, Khudusela's family-owned business invested a 38% stake in Community Investment Ventures.[6]
In 2015, he invested in In2IT Technologies, a global technology services firm, acquiring a 24,5% stake in its South African arm.[2] Furthermore, in 2015, Khudusela was awarded as the winner in the Emerging Category by EY World Entrepreneur Award for South Africans. [7]
In 2016, he doubled New GX's net asset value by receiving a R250 million investment from Vantage Capital based on a fast-growing fibre and telecoms infrastructure that empowered townships such as Attridgeville & Mamelodi through Dark Fibre Africa; Vantage Capital successfully exited this investment in 2018.[8]
In 2017, Remgro owned 51.9% of New GX Capital.[5]
In 2021, STANLIB invested over R2.4 billion in the Pitje-family-controlled business, New GX, to increase the spread of digital access across South Africa.[9]
Khudusela is a shareholder in CIVH, which is the parent company of Vumatel and Dark Fibre Africa — subsidiary businesses of Masiv Proprietary Limited.[3]
Renewable energy investments
In 2019, Khudusela extended his investment portfolio to include solutions that will drive sustainable change across South Africa and Africa's energy shortages.[1] He supported the establishment of Airnergize Capital Fund 6 years ago, a company specializing in clean tech investment vehicles targeting renewable energy such as gas and water, similar to Fungi Utilities, alongside RMB Ventures (RMBV) worth R2.4 billion ($120 million).[10] Airnergize Capital Fund, a collaboration between New GX Capital (a diversified investment company) and RMB Ventures, has pledged to scale sustainable solutions at a final close of R4 billion (approximately $200 million) in 2025 to build a leading tech platform under the New GX umbrella to support South Africa's shift toward a low-carbon economy.[10]
In 2021, Khudusela's investment vehicle New GX Capital partnered up with Stanlib Asset Management to deploy fibre in marginalized communities in South Africa, with an extensive focus on telecommunication towers and data centres.[11] New GX Capital, co-controlling with Remgro, which is a part of CIVH, has over 16 years' experience in the South African telecommunications sector.[11]
In 2023, Maia Capital, a boutique investment firm, partnered with Nedbank Corporate and Investment Banking to invest in a New GX subsidiary company called Green Climate Ventures with the intention to scale digital access in South Africa.[12] Green Climate Ventures' asset portfolio is focused on clean energy and digital infrastructure assets with a portfolio exposure to a leading brand in its sector called Sustainable Power Solutions.[12] Sustainable Power Solutions is a subsidiary company under the New GX umbrella that is focused on solar PV, in-house engineering, battery projects and construction services.[13]
In 2025, Sustainable Power Solutions partnered up with Darling Green Country Estate & TouchPoint Energy to commission a 1MW solar plant within the Swartland Municipality, which went onstream on the 10th of March 2025.[14]
Corporate social investments
The HM Pitje Foundation is Khudusela's family non-profit organization, inspired by his late father.[1]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 Van Moltke-Todd, Nadine (16 April 2019). "How Khudusela Pitje Has Built a R1.6 billion business". Entrepreneur Media South Africa. Archived from the original on 2023-05-28. Retrieved 9 March 2025. Unknown parameter
|url-status=ignored (help) - ↑ 2.0 2.1 Van Rooyen, Syreeta (12 November 2015). "One of founding shareholders of DFA, New GX Capital, invests in In2IT Technologies". Evolution PR. Retrieved 13 May 2025.
- ↑ 3.0 3.1 McLeod, Duncan (30 September 2022). "Masiv-the new name of Vumatel, DFA parent company". News Central Media. Retrieved 7 March 2025.
- ↑ 4.0 4.1 Mutizwa, Godfrey (11 April 2025). "New GX Capital, RMB Ventures launch R2.4bn Airnergize Fund [Video File]". CNBCAFRICA. Retrieved 12 May 2025.
- ↑ 5.0 5.1 Prinsloo, Loni; Mcclelland, Colin (13 April 2017). "Remgro in talks to offload Dark Fibre". Retrieved 12 May 2025.
- ↑ Nyamakanga, Regis (3 April 2007). "South Africa: New GX Capital Buys Stake in CIV". Business Day. Retrieved 14 May 2025.
- ↑ "The EY World Entrepreneur Award Programme recognises the most exceptional entrepreneurs: Powerful minds, powerful ideas". AfriGIS. 6 November 2015. Retrieved 14 May 2025.
- ↑ Mogoba, Mokgome (6 September 2018). "Vantage Capital Exists New GX Capital". Vantage Capital. Retrieved 6 March 2025.
- ↑ "STANLIB and New GX combine to accelerate township fibre roll-out through a R4.4bn investment platform". Stanlib. 9 November 2021. Retrieved 15 April 2025.
- ↑ 10.0 10.1 Lourie, Gugu (11 April 2025). "New GX Capital, RMB Launch R2.4bn Fund for Africa's Clean Rech". Tech Financials. Retrieved 11 April 2025.
- ↑ 11.0 11.1 McLeod, Duncan (9 November 2021). "Stanlib, New GX Investments to pump billions into township fibre". Tech Central. Retrieved 13 May 2025.
- ↑ 12.0 12.1 Lerutla, Dinao. "Maia Capital commits R125m to partner with Nedbank CIB in support of New GX Green Climate Ventures (GCV)". Novus Group Press Bulletin. Retrieved 12 May 2025.
- ↑ "New GX Capital and RMB Ventures launch new fund". Africa Private Equity News. 11 April 2025. Retrieved 13 May 2025.
- ↑ "First-of-its-kind solar project to power Darling Green Country Estate and Swartland Municipality with clean energy". Engineering Mining Africa. April 4, 2025. Retrieved 13 May 2025.
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