Meridian Capital Limited (“Meridian”) announced it has funded and entered into a strategic partnership with iMbokodo Exploration and Production, an independent, majority black-owned South African company incorporated to promote meaningful and diverse economic ownership opportunities for historically disadvantaged persons (“HDP”).
The partnership allows iMbokodo to advance energy exploration throughout Southern Africa with a focus on empowering local community development alongside every upstream project.
“We aim to become not only the leading upstream partner of choice to International Oil Companies but to be recognized for the way we positively impact surrounding communities—and we can do this at scale with the foundational support provided by Meridian,” said Zakithi Zama, the General Manager. “We are uplifting disadvantaged persons with economic mobility and growth potential. Our business is grounded in providing the upstream partnership that promotes sustainable inclusivity required throughout the sector.”
iMbokodo’s work is led by an expert team with decades of experience in oil and gas operations. Its governance model goes beyond compliance and ensures more than 10% of its shareholding benefits historically disadvantaged communities.
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“Today more than ever before, the dynamic state of oil and gas exploration demands specific, localized knowledge and technical expertise in both operations and in how to build and maintain trust, support, and a license to operate from surrounding communities.
The management team at iMbokodo know the diverse needs and priorities of historically disadvantaged communities and will ensure economic development and long-term community benefits.”
A women-led company, iMbokodo’s management team takes pride in the caliber of its previous work with some of the world’s supermajors. The company’s directors collectively offer unique skillsets in active and innovative investments promoting environmental and social stewardship alongside transparent governance and creating growth in challenging environments.
“We are in advanced discussions with potential partners attracted to our unique partnership model. A model based on win/win principles for best local South African skilled talent, Communities, Investors, IOC’s and Government” said Sonja De Bruyn, a director of iMbokodo.
