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In brief: South Africa’s Ninety One appoints chief sustainability officer

The asset manager is targeting SAR 10b for a South Africa-focused multi-class impact fund.

Nazmeera Moola, chief sustainability officer, Ninety One

Emerging markets-focused asset manager Ninety One has appointed Nazmeera Moola as its first chief sustainability officer, the firm announced today.

Ninety One is targeting ZAR 10 billion ($660 million; €580 million) for the SA Recovery Fund, a multi-asset-class “impact investment initiative” with Ethos Private Equity across senior debt, subordinated debt, preferred equity, listed equity and private equity. The firm aims to “protect [South Africa’s] productive capacity, preserve thousands of jobs and support the South African tax base,” Ninety One’s CEO Hendrik du Toit said in July 2020 when the fund launched. Ninety One is also in the market for its second Africa Credit Opportunities fund, launched in December 2019 and targeting $400 million.

Moola will “mobilise dedicated funding for an inclusive net zero transition”, the firm said in an emailed statement. She will also lead “investment integration, advocacy and corporate transition to net zero.” Moola is based in Cape Town and was previously head of South African investments at Ninety One.