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Meet Nthabiseng Maidi Founder of MMCP Group

Lifestyle and Tech team sat down with Nthabiseng Maidi a chartered accountant, lawyer and certified coach who is the principal of the group and manages the businesses independently. She was previously a financial director and Chief Financial Officer (CFO) for several companies where she obtained her experience in accounting, taxation, corporate finance services and investment management. She is passionate about developing businesses and providing strategic advice to the businesses she is involved with. Her career includes being:

  • Head of the Private Equity Fund where she managed several investments made by the fund and the entity,
  • served as board member of listed and unlisted companies, with some of her roles involving, Independent Non-Executive director, Chairperson of the Social, Ethics and Transformation Committee, Chairperson of the Independent Board Committee, and Member of Audit & Risk Committee.
  • She also worked for an international bank where she held the position of group head accountant.
  • Her career started in 1996 when she joined the largest logistics SOE, where she moved through the ranks until She was seconded to start her Training Outside Public Practice as a CA (SA).

LnT: Who is Nthabiseng Maidi?

NM: The last born of the family of six, a mother to a boy, and business woman, hailing from Cullinan, a small town east of Pretoria. Educated at a local school, Sedibeng Primary, then Ekangala High school, where she obtained her matric. Obtained her junior degree at Vista University in the East Rand (Now Unisa), where she cemented her interest in accounting. Went through several universities before obtaining her CA (SA) qualification. It took her many year to qualify as a CA as the journey was marred with failing and challenges. In the end she qualified in 2009.  Following her rapid growth in the workplace, from being a junior finance admin clerk to being an assistant finance manager, she went on to serve her articles (Training Outside Public Practice) at Transnet where she trained for her qualification.

LnT: When was MMCP PTY LTD established?

NM: MMCP was incorporated in 2013 following a fallout with that partner, in a company called Moche Mokone Capital Partner. This company which was established in 2011 as an investment company with the view of raising a Private Equity fund. The partners went separate ways and since she processed the track record and skills in fund management, she retained the shortened name MMCP. As is MMCP does not have any meaning and is not even an acronym.

LnT: As a Chartered Accountant? What inspired you to venture into starting your own business?

NM: A chartered accountant is an accountant with the specific professionally accreditation. They can can offer specialist accountancy services and business advice in a range of areas. The key difference between an accountant and a chartered accountant is that the latter is typically more highly qualified and experienced and will be a member of a professional body. In addition to regular accounting services, chartered accountants can provide advice on specific business and financial matters, including:

  • Corporate finance e.g. securing finance for mergers, acquisitions and capital restructuring
  • Financial management within a business, such as in-depth cash flow forecasting or managing funds
  • Personal financial advice (for both individuals and companies)
  • Forensic accounting to support litigation into commercial fraud

I always had an entrepreneurial mind, from being a vendor in the township to being a seamstress during my varsity days. The idea of starting my own business came in 2009 after visiting Zimbabwe and meeting a few friends who were business owners (co-founder in a bank). I was amazed that such young people can pull something like this and make it a success. The opportunities created by the introduction of BEE made my decision easier as I had identified a need withing the healthcare space and thought I could facilitate distribution of pharmaceutical products between South Arica and Zimbabwe. I then conceptualized Landomed a pharmaceutical distribution company, which I co-founded in 2011, however due to lack of funding and the “partner challenges”, I had to put a stop loss and leave the business as I had self-funded the entire venture.

Having worked for a Private Equity company, I got to see, how easy it was to incorporate a business and through my interactions with investee companies, the business processes sounded easy to replicate. It was then that I conceptualized the idea of a Private equity fund and co-founded Moche Mokone Partners in 2011.

I always wanted to do better for myself and family and owning a business would allow me to do what I like, which is, providing investment and financial advice and being a business owner. I was also intrigued by being a board member and making all those hard decisions.

LnT: What services does MMCP Group offer?

NM: MMCP is a group of companies that provides financial services.

MMCP (Pty) Ltd, is a Business Advisory Services Practice providing transversal integrated solutions to clients. The services provided range from Accounting, Corporate Finance Advisory, Taxation and Strategic Consulting Services.  The business advisory services goes beyond traditional financial reporting, but provides advice on many aspects of business strategy and operations to ensure that businesses are sustainable, scalable and sellable.

MMCP Fund Managers (Pty) Ltd T/A MMCP Wealth is a wealth management company that is solution based and the advice provided is “advice-based planning”. The business will focus on investment management, wealth management, and estate planning.

MMCP Agri Holdings and MMCP Holdings are investment companies, with investments in agriculture and industrial manufacturing.

LnT: In regards to the brand, “MMCP”, who is curated for? (Discuss your target audience)

NM: Our financial services are transversally integrated. Our offering is targeted at business owners and individuals, who would like to grow their businesses, create wealth, manage the risk and preserve it for generations to come. Our ideal clients are family offices, where we can take care of the financial management, provide advisory services on strategic direction of the business to create value.

Then we make sure that the businesses are secured, by providing business risk management and investment management services where there is excess cash. Lastly, we make sure that the legacy in preserved by ensuring that the current structures are used, risk is managed and the investments are made. This is a complete solution for clients and we make use of statistically proven methods of building growth, partner with industry leaders as well as being innovative in the type of solutions we provide.

In order to leverage on the relationships, we would also like to partner with corporates who require corporate finance advisory services, specifically pre and post investment services for investee companies. As we have an understanding of the inherent challenges and drivers in businesses.

LnT: What services does MMCP offer?

NM: MMCP Business Advisory Services provides Accounting, Corporate Finance Advisory, Taxation and Strategic Consulting Services, whilst MMCP Wealth provides personal and corporate financial planning, wealth management and estate planning. The services are integrated and makes it a seamless service. For DFI’s and EDS fund facilitators, we provide pre and post investment management services.

LnT: Given the current state of the country (The pandemic, Fuel prices, Unemployment etc), do you have any advisory services that will “help” an individual or a business?

NM: Yes we do have. For business advisory services, our services are segmented according to the customer needs. First is the pure accounting services with no additional advice, second is the Outsources CFO or Financial manager services and lastly is the value builder services with specific focus on strategic services that will ensure that the business is scalable, sustainable and sellable.

We also provide financial advice and financial planning for businesses and individuals who want advice solutions.

LnT: What are your goals for MMCP?

NM: First to grow the businesses that impact the lives of those we come across positively, as that we consider to be true transformation. This includes providing training to young people wanting to learn financial services, provide coaching for those who want to be entrepreneurs, a partner for corporates who are looking at an agile company that can provide corporate financial services for the SME market and lastly a well sought-after wealth management company with AUM of over R2,5bn.

We would like to be a name to be reconned with, and a trusted partner.

LnT: Do you have anything exciting coming up within MMCP, that you would like to share with us?

NM: For now we are focusing on growing the two companies, establishing lasting relationships, doing acquisitions in the wealth management space and consolidating our offering.

for more information on MMCP

Contact:[email protected]