ThafelCap Group
Business rescue & advisory
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Welcome To:

Business rescue and strategic advisory for South African companies.

Talk to a practitioner → How business rescue works
Experience28+years in banking and development finance
Leadership12+years serving as Chief Executive Officer
IDC portfolioR90bn+private equity and loan portfolio overseen at the IDC
LEDA pledgesR400bn+investment pledges mobilised for Limpopo at LEDA

Current appointments

Joint Senior BRP
Zephan Properties (Pty) Ltd In rescue
Joint Senior BRP
Orthotouch (Pty) Ltd In rescue
Licensed by
Companies and Intellectual Property Commission (CIPC)

What we do

Three ways we help a business recover

Companies Act · Ch. 6

Business rescue

Licensed senior practitioner appointments and rescue plans that creditors can support.

The process → Turnaround

Restructuring

Sustainability plans, non-core asset disposals and organisational redesign.

All services → Funding

Capital raising

Structuring and introductions to banks, DFIs and strategic equity partners.

All services →

The earlier a board acts, the more options remain.

Arrange a confidential conversation →

Services

Advisory built on credit, risk and governance

From the first sign of distress to a funded recovery, we work with boards, shareholders, creditors and employees to protect value and keep the business trading.

Companies Act · Ch. 6

Business rescue

Senior practitioner appointments for companies that are financially distressed but can be saved.

  • Investigation of the company's affairs
  • Business rescue plan and creditor meetings
  • Implementation and termination
Turnaround

Restructuring

Practical turnaround strategies that move a business back towards self-reliance.

  • Sustainability and turnaround plans
  • Disposal of non-core assets
  • Skills audits and organisational redesign
Funding

Capital raising

Preparing businesses for funders and bringing the right partners to the table.

  • Transaction evaluation and structuring
  • Debt and equity introductions
  • Strategic equity and technical partners
GRC · King IV

Governance, risk & compliance

Frameworks that boards and regulators can rely on.

  • Risk appetite and key risk indicators
  • Enterprise risk registers
  • PFMA and Companies Act compliance
Boards

Board & strategic advisory

Experienced independent counsel at board and executive level.

  • Non-executive and advisory board roles
  • Strategy formulation and implementation
  • Balanced scorecard performance management
Capacity building

Training

Workshops for executives, boards and development finance teams.

  • Risk management and risk appetite
  • Due diligence and project appraisal
  • Pricing of credit facilities

Sector experience

Where we have worked

PropertyManufacturingMining & beneficiationAgriculture & agro-processingRenewable energy & EV infrastructureOil, gas & commoditiesBroadband & ICTTransport & logisticsHealthcareSMME & co-operative financePublic-private partnerships


Business rescue

A clear path from distress to a plan

Business rescue gives a financially distressed company temporary protection from creditors while a practitioner develops and implements a plan to restore it to a solvent footing.

The process

Five stages under Chapter 6

  1. Commencement

    Board resolution or court order

    Proceedings begin and a general moratorium on legal action against the company takes effect.

  2. Appointment

    Within 5 business days

    A licensed practitioner is appointed and takes full management control of the company.

  3. Stakeholder meetings

    Within 10 business days

    First meetings with creditors and employees to report on the company's prospects of rescue.

  4. Rescue plan

    Published within 25 business days

    The plan is published, then considered and voted on by creditors at a dedicated meeting.

  5. Implementation

    Until substantial implementation

    The practitioner executes the adopted plan and files notice of termination once it is complete.

Timelines follow Chapter 6 of the Companies Act 71 of 2008 and may be extended by the court or by creditors.

Signs it may be time

When to consider rescue

  • The company may be unable to pay its debts as they fall due in the next six months
  • Liabilities may exceed assets within the next six months
  • Creditors are threatening legal action or liquidation
  • Funders are unwilling to extend facilities without a credible plan

What we bring

Practitioner and operator

Our senior practitioner has run rescue proceedings from inside the business, as CEO of SA Ladder, and from outside as an appointed practitioner. That means rescue plans grounded in how companies actually trade, not only in what the law requires.

Questions

Common questions

Does business rescue mean the company is closing?

No. The aim is to rehabilitate the company so it keeps trading, or, where that is not possible, to achieve a better return for creditors and shareholders than an immediate liquidation would.

Who manages the company during business rescue?

The business rescue practitioner takes full management control. Directors continue to work under the practitioner's authority and instruction.

What happens to employees?

Employees keep their jobs on the same terms unless changes are agreed or made in the ordinary course of attrition. Employees are also entitled to form a committee and to be consulted on the plan.

Can creditors still take legal action?

A general moratorium suspends most legal proceedings against the company and its property while rescue is under way, unless the practitioner or the court gives consent.

About ThafelCap Group

Led by a career in development finance

ThafelCap Group (Pty) Ltd is a business rescue and strategic advisory firm founded by Thakhani Makhuvha, a former Group CEO of the Limpopo Economic Development Agency and CEO of sefa.

A development finance leader who has run state-owned institutions, turned around manufacturers and supervised banks.

Thakhani has led LEDA, sefa and SA Ladder as Chief Executive Officer, and built the IDC's Post Investment Monitoring department from the ground up. He has trained development finance institutions across Africa on risk management, due diligence and credit pricing, and regularly moderates investment conferences and development finance forums.

  1. Ethereal RenewablesDirector: Finance, Investments and Risk
  2. ThafelCap GroupChief Executive Director and Founder · Senior Business Rescue Practitioner
  3. Limpopo Economic Development AgencyGroup CEO of a R3bn group with seven subsidiaries
  4. SA LadderCEO, leading a turnaround through business rescue
  5. Small Enterprise Finance AgencyChief Executive Officer
  6. Industrial Development CorporationHead of Risk Management · Head of Post Investment Monitoring
  7. KPMG, Standard Bank, SARB, Absa CapitalAudit, compliance, bank supervision and credit

Recognition

Notable accomplishments

  • Six clean auditsUnqualified audit opinions for sefa in six consecutive financial years.
  • DFI of the Yearsefa named Development Finance Institution of the Year at the ABSIP Financial Services Awards.
  • Titans – Building NationsFinalist, recognising influential African leaders.

Memberships

  • Senior Business Rescue Practitioner CIPC
  • Business Restructuring Professional SARIPA
  • Associate General Accountant SAICA
  • Member IoDSA
  • Member INSOL International
  • Member ABSIP

Current board roles

  • Director: Finance, Investments & Risk Ethereal Renewables
  • Advisory Board Member Guliwe Invest
  • Director Seasoned Capital
  • Chief Executive Director & Founder ThafelCap Group

Contact

Facing financial distress? Let's talk early.

Speak to a practitioner

Reach out for a confidential first conversation about business rescue, restructuring or raising capital.

Emailthakhanimakhuvha1@gmail.com
Phone+27 82 384 7467
Based inKempton Park, Gauteng
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