Reginald Muzariri

Profile

A chartered accountant with close to 35 years across corporate restructuring, commercialisation, project finance, corporate finance and investment banking — and nearly 25 years of it spent as a senior transaction advisor and on boards.

Reginald qualified as a Chartered Accountant and built his career at Ernst & Young, Coopers & Lybrand, New Africa Investments Limited and Absa Corporate and Merchant Bank. He is Managing Director of UAFIN (Pty) Ltd, where he works on capital raising, corporate finance and project finance transactions — every one of which has carried a project or programme management component as a condition of getting it done.

From 2011 to 2018 he was Managing Director of the Utho SME Infrastructure Fund, a private equity venture firm, where he sat as the fund's representative on the boards of roughly ten investee companies in infrastructure, construction and engineering. That decade of working directly with small and medium enterprises — providing strategic, financial and governance leadership inside them rather than to them from a distance — is the experience the UAFIN model is built on.

Since 2000 he has led as transaction advisor on numerous Public Private Partnership assignments, coordinating multi-disciplinary teams to completion. He was lead transaction advisor on the first fully rated green building campus in South Africa, for the Department of Environmental Affairs — a project that remains unparalleled. He was also invited onto the financial and BEE streams of the panel convened to comment on and draft input into National Treasury's Regulation 16 PPP Guidelines, including the standardised PPP legal agreements.

A strong and independent thinker, willing to grapple with the difficult and uncomfortable conversations in the best interests of the business.

Board experience across both public and private commercial markets has made him expert at identifying and resolving key risks in organisations, and his corporate governance awareness is what he contributes to make boards more effective and more accountable.

Alexkor

Board member of the state-owned enterprise from 2007 to 2012, and Chairman of the audit committee from 1999 to 2007. Appointed Chairman of the full board in 2008, holding the role until his statutory term expired in September 2012. During his tenure the board and executive achieved profitability and solvency at Alexkor for the first time in over a decade, and led the transfer of over R2 billion in assets to the Richtersveld Community.

Right to Care

Board member since 2006 and Chairman of the Audit and Risk Committee. Revenues grew from approximately R78 million in 2006 to over R1 billion, peaking at R1.5 billion in 2018/19. He established and chaired the organisation's ICT governance committee from 2017 before handing over the chair in 2020; in August 2024 the Audit & Risk, IT Governance and Investment committees were amalgamated under the Audit & Risk Committee he chairs.

Thuto Educational Trust

Board member since 2018, together with two of its large commercial operating subsidiaries — TransUnion SA and Cambridge University Press SA, both subsidiaries of international listed groups with significant sub-Saharan operations. Currently Chairman of the Audit and Risk Committee and of the Investment Committee, and interim Chairman of the Strategic Governance Committee.

RTT Excellence Group

Executive Chairman. The group operates in mining, ICT and construction in West Africa, and is executing its first road project in Ghana at around US$5 million, with a current pipeline in excess of US$50 million.

Utho Group

Founder member, Group COO, and Managing Director of Utho Capital Fund Managers and Utho Asset Finance, sitting on applicable operating boards until late 2018.

Phoenix Venture Partners

Non-executive director. The firm received a USAID technical assistance grant to provide business plan preparation, due diligence and valuation, M&A advisory and capital raising services.