MRF Yearbook 2020

MY LEADERSHIP JOURNEY segment the MRI scans of the brains of new- born infants born to HIV positive mothers. She hopes this will lead to a job in robotic vision. 2019 and 2020 were transformative for several reasons. While in South Africa, Mona was diagnosed with Autism Spectrum Disorder and Asperger’s Syndrome, characterised by high functioning, difficulty with social interactions, and obsessive interests. “I would like people to know this because I want to normalise it. I am a person with learning difficulties – I didn’t know that growing up.” “Girls tend to mask it; my grades were always A Plus.” Mona says the diagnosis has given her peace and a way of understanding her experiences. Being a Mandela Rhodes Scholar has given her a deeper appreciation of the African identity beyond her home country. Today she also credits her parents for treating her exactly the same way they treated her brother when they were growing up. She realised the significance of this during the identity exercise at the Reconciliation Workshop. “Gender never comes into my mind. I never think I shouldn’t do this because it’s a man’s thing, or I shouldn’t say this to a man. I want to stand with the boys. I have never felt less privileged because of my gender. I’ve become really happy and proud of how my parents raised me.” INSIDE THE PROGRAMME 45

ALUMNI AFFAIRS



ALUMNI AFFAIRS AT A GLANCE STRENGTHENING THE NETWORK AND SHOWCASING ALUMNI VOICES: ALUMNI RELATIONS IN 2020 The alumni relations team reflects on the highlights of a busy and productive year of alumni engagement. 2020 was an exciting year in the alumni relations space. We launched MandelaRhodesConnect, our exclusive digital platform, in November 2019 and by the end of March over 50% of all alumni had registered on the platform. Alumni are regularly using MRC to find one another via the directory, and to search for and share opportunities. Mandela Rhodes Alumni are based across the continent, and as a result when everything had to go online in 2020, we could easily organise alumni events. Alumni affected by the COVID-19 pandemic were challenged to lead through it, and so the programmes team piloted small gatherings on Zoom to support and connect our community as lockdowns went into effect across the continent. We hosted three informal sessions and a larger networking event at the end of the year. Participants noted that the gatherings provided them with community, encouragement and renewed strength for their leadership efforts. The plan is to build on the small groups model in 2021. 2020 was an excellent year for alumni thought leadership. We published the third issue of Young African Magazine, the Resilience Issue, in August 2020 and alumni contributed perspectives on a variety of topics on our blog. Responses to the pandemic included pieces on Africa’s health response, common misconceptions about the virus, lessons for educators in Africa, and a prescient comment on how patent law would restrict access to the vaccine. A highlight in the thought leadership space was the Africa Day webinar held in partnership with the Higherlife Foundation – an overview follows below. Alumni continued to be involved in the life of the Foundation, serving as mentors to scholars in residence, reviewing applications for the Class of 2021, and participating as speakers in the programme. A particular highlight for many in the community was coming together on Mandela Day on 18 July, for the unveiling of the MRF’s new logo and a dialogue that invited alumni to explore and recommit to what it means to be a part of the Mandela Rhodes family. Due to our 2021 selection interviews being online, alumni based outside Cape Town were able to play the important role of being in the waiting room with candidates before their interviews for the first time. Alumni also rose to the challenge of helping the MRF identify and support vulnerable foreign national households in South Africa during the lockdown (addressed in detail elsewhere in this yearbook). We were delighted with the response to these calls for involvement. We concluded the year with an alumni survey seeking feedback from our community on our offerings and initiatives, and will be incorporating this feedback as we head into 2021. Mandela Rhodes Alumni are key stakeholders and custodians of the MRF, and we look forward to continuing to co-create with them. 48 A L U M N I A F F A I R S A T A G L A N C E

February 27 March 25 May 4 July 17 October Launch of Mandela Launch of Alumni Alumni shine Harnessing the Reconciliation Rhodes Connect Conversations during Africa Day Collective alumni and redress Ambassador (COVID-19) Webinar conversation working group Programme The Alumni Am- Mandela Rhodes Harnessing the The MRF convened To support alumni bassadors played a Alumni Barbara Collective was our a working group of dring the early pivotal role in building Karuana (Kenya & fourth informal alumni to support stages of the community on Man- AFDA, 2016) and alumni gathering. us in deepening global COVID-19 delaRhodesConnect. Daniel Ndima (South This session focused our understanding lockdown, Alumni The first ambassadors Africa & UP, 2015) on finding value in of the principle Conversations were started their term in represented the the MRF community, of reconciliation launched. The team February. 337 Mandela Rhodes and what it means and how it finds hosted an informal registered users, community during to embody the MRF practical expression virtual space that our Africa Day values as a collective. in our work. Thirteen provided support and five Ambassadors webinar held in alumni from different connection for the partnership with the disciplines and alumni community in 2020. Higherlife Foundation. cohorts contributed across the continent to a rigorous and and the world. Three 27 May enriching discussion. conversations were hosted during the 28 November first lockdowns. Shaun Johnson Alumni Meet Up Memorial Scholarships To close off the Awarded year, we hosted a networking event Following a rigorous aimed at introducing selection process the new graduating the scholarships alumni to the rest were awarded to of the community. Tangang Andrew Alumni connected Tangang (Cameroon across cohorts, & SU, 2018) and Musa swapping ideas and Mdunge (South Africa reflecting on the year. & Monash, University In total 200 alumni 2016). joined in our events over the year. 337 200 REGISTERED ALUMNI USERS JOINED EVENTS OVER THE YEAR 5 AMBASSADORS ALUMNI AFFAIRS 49

THOUGHT LEADERSHIP REIMAGINING AFRICAN AGENCY IN TIMES OF CRISIS An Africa Day webinar exploring the possibilities for Africa’s transformation The global crisis caused by COVID-19 presents an opportunity for Africans to reimagine and redefine the dynamics and underlying structures of our societies and our global relationships. On the 25th of May, the MRF partnered with the Higherlife Foundation to host a webinar to explore how Africa and Africans might reclaim our agency and emerge from the pandemic on a positive trajectory. Alumni Barbara Karuana (Kenya & AFDA 2016) and Daniel Ndima (South Africa & UP 2015) represented the Mandela Rhodes community on the panel, and alumni joined over 600 young Africans from across the continent in the virtual audience. The panel discussion offered a range of intergenerational perspectives. The programme, hosted by MRF CEO Judy Sikuza, began with opening remarks from Dr Kennedy Mubaiwa, CEO of the Higherlife Foundation, and keynote remarks from Professor Njabulo Ndebele, Chair of the MRF Board of Trustees and Mrs Tsitsi Masiyiwa, Chair of the Higherlife Foundation. Barbara and Daniel were joined on the panel by Mr Dalumuzi Mhlanga, CEO and Founder of Notto Incorporated and Ms Chiedza Juru, General Manager at Star Leadership Academy. In his opening remarks Dr Mubaiwa emphasised the importance of knowledge and information during the COVID-19 pandemic. Mrs Masiyiwa imparted four essential characteristics for African leaders: servant leadership, tenacity, accountability and responsibility, and Professor Ndebele affirmed that as Africans we “do not yield to adversity.” With encouragement and a reminder of young people’s responsibility for Africa’s future, he closed by sharing his dream of a single market economy in Africa. With a passion in using film for social impact, Ms Karuana shared how much she values her African identity. In her roles as Outreach Director at Good Pitch Kenya and a freelance film production manager and director, she expressed her excitement at being African and creative in 2020. She sees the democratisation of storytelling in Africa unfolding, and emphasised the value in us creating our own narratives about our continent, as an important aspect of our agency. Mr Ndima, Founding CEO at Cape Bio, is a scientist. He focused on the power of African diversity: our different imaginations and backgrounds and how we can tap into indigenous knowledge systems. His firm, which developed locally sourced and produced rapid test kits for COVID-19, utilises the indigenous knowledge systems he described during the panel. Ms Sikuza closed the webinar by reflecting on the crossroads of 2020. “We can view this moment as a path to further deterioration as a continent or we can recognise that we are already doing things that allow us to reimagine and redefine society. We have the audacity to believe in a reimagined Africa, and in our skills and talents. We have a window to dig deep, to find our agency, our resilience and our creativity. Let us remember that it is in our hands to create the future we want.” For a full write-up of the webinar, visit the Ideas section of our website www.mandelarhodes.org/ideas. 50 T H O U G H T L E A D E R S H I P

DOCTORAL SCHOLARSHIP THE 2020 SHAUN JOHNSON MEMORIAL SCHOLARS The Shaun Johnson Memorial Scholarships (SMJS) are offered in proud partnership with the Leverhulme Trust. The scholarships support doctoral studies at a recognised institution of higher education in the UK. Each Scholarship provides up to £100,000 per candidate to cover the costs of fees, maintenance and research expenses for up to three years. In 2020, the scholarships were awarded to 2018 Scholar Tangang Andrew Tangang and 2016 Scholar Musa Mdunge. Tangang Andrew Tangang, Cameroon Musa Mdunge, South Africa Degree of study as MRS: Degree of study as MRS: Masters in Public Administration Masters in Political Science Proposed field of PhD study: Proposed field of PhD study: Local Government and Public Policy Politics and International Relations Tangang will study at the University of Birmingham Musa will study at the University of Dundee in in England. His doctorate will look at the evolution Scotland. His doctorate will look at the regional of community self-governance schemes in effects of South Africa’s economic diplomacy with Cameroon and their relationship to municipalities. Mozambique and Zimbabwe. This prestigious opportunity is only available to our alumni, making it a very compelling supplementary offering to the Mandela Rhodes experience. We appreciate The Leverhulme Trust’s ongoing support which enables our exceptionally talented young academics to take the next steps on their leadership and academic journeys. The scholarships were formerly known as the Leverhulme Mandela Rhodes Doctoral Scholarships. Following the untimely passing of Shaun Johnson in February 2020, the Board of the Leverhulme Trust made a generous gesture to honour the legacy of our founding Executive Director and renamed the award. ALUMNI AFFAIRS 51

ALUMNI CONTRIBUTORS THANK YOU TO OUR ALUMNI The vision for the MRF has always been for alumni to play an active role in the life of the Foundation. Every year our exceptional alumni give back in droves, playing key roles and acting as collective custodians of our work. Mentors 14 21 Thank you to alumni who mentored scholars in residence on their leadership journeys mentors selection reviewers Tristan Gorgens (South Africa & UCT, 2006) 13 Curwyn Mapaling (South Africa & SU, 2015) Unnel-Teddy Ngoumandjoka (Gabon & Monash, 2009) workshop Andrew Akpan (Nigeria & UJ, 2018) contributors Makomborero Muzenda (Zimbabwe & RU, 2018) Ajohche Awungjia (Cameroon & UWC, 2016) Jessica Ronaasen (South Africa & SU, 2013) Zenzo Chakara (Zimbabwe & UCT, 2016) Noella Moshi (Tanzania & UCT, 2011) Kira Düsterwald (South Africa & UCT, 2017) George Mbella Teke (Cameroon & SU, 2018) Chelsea Haith (South Africa & UCT, 2017) Simbarashe Moyo (Zimbabwe & WITS, 2018) Jessica Ilunga (Democratic Republic of Congo & UCT, 2018) Selection Reviewers Thank you to alumni who reviewed applications for the class of 2021, helping to select the next generation of leaders Emma Whitelaw (South Africa & UCT, 2017) Adigun Ajibola (Nigeria & UKZN, 2016) Sharon Manoah (Kenya & UCT, 2018) Jolynne Mokaya (Kenya & SU, 2016) Sendibitiyosi Gandidzanwa (Zimbabwe & NMMU, 2015) Dr Graeme Hoddinott (South Africa & UKZN, 2007) Jessica Mayson (South Africa & WITS, 2018) Christian Polorigni (Togo & UCT, 2017) Simbarashe Moyo (Zimbabwe & WITS, 2018) Nobulali Dangazele (South Africa & WITS, 2008) Reem Elsayed (Egypt & UWC, 2018) Colin Besaans (South Africa & UCT, 2016) Moses Ogutu (Kenya & UCT, 2017) Heather Dixon (South Africa & RU, 2018) Aluoch Obimbo (Kenya & AFDA, 2017) Kira Düsterwald (South Africa & UCT, 2017) Chido Dzinotyiwei (Zimbabwe & UCT, 2018) Jessica Ilunga (Democratic Republic of Congo & UCT, 2018) George Teke 2018 (Cameroon & SU, 2018) Andrew Tangang (Cameroon & SU, 2018) Keenan Meyer (South Africa & UP, 2018) MRC Ambassadors Thank you to those who built community as Mandela Rhodes Connect Ambassadors Nkateko Manganye (South Africa & WITS, 2016) Tulani Nkuntse (South Africa & NMMU, 2014) Jonathan Ruwanika (Zimbabwe & UCT, 2018) Chido Dzinotyiwei (Zimbabwe & UCT, 2018) Lisa Chella (South Africa & UZ, 2013) 52 A L U M N I C O N T R I B U T O R S

57 6 Governance Thank you to alumni who contributed their skills and contributing governance alumni experience to our governance committees 5 Investment Committee Mr Jacques Conradie (South Africa & SU, 2005) MRC Dr Osmond Mlonyeni (South Africa & UP, 2009) ambassadors Finance, Audit and Risk Committee Mr Nkazi Sokhulu (South Africa & UCT, 2006) Ms Thobela Mfeti (South Africa & UCT, 2012) Selections Committees Pie-Pacifique Kabalira Uwase (Rwanda & UKZN, 2006) Rachel Nyaradzo Adams (Zimbabwe & UCT, 2006) Workshop Contributors Thank you to workshop speakers, panelists and participants Simba Tevera (Zimbabwe & WITS, 2015) Jessica Ronaasen (South Africa & SU, 2013) Jessica Mayson (South Africa & WITS, 2018) Zenzo Chakara (Zimbabwe & UCT, 2016) George Teke (Cameroon & SU, 2018) Linet Kimathi (Kenya & UP, 2018) Ijeoma Opara (Nigeria & UCT, 2017) Jolyn Phillips (South Africa & UWC, 2014) Zukiswa Mqolomba (South Africa & UCT, 2010) Chris Nkwatsibwe (Uganda & UCT, 2017) Gezina Hoxobes (Namibia & UP, 2015) Kudakwashe Manjonjo (Zimbabwe & WITS, 2019) Emile Engel (South Africa & UCT, 2010) Co-creators Thank you to working group members who shared their knowledge and perspectives Elnari Potgieter (South Africa & SU, 2012) Hanani Hlomani (Zimbabwe & UCT, 2019) Jessica Ilunga (Democratic Republic of Congo & UCT, 2018) Nosipho Mngomezulu (South Africa & RU, 2011) Chris Nkwatsibwe (Uganda & UCT, 2017) Tumelo Moreri (Botswana & UCT, 2014) Leané Meiring (South Africa & WITS, 2015) Olerato Mogomotsi (South Africa & UCT, 2019) Lerato Nxomani (South Africa & RU, 2014) Mary Kgabi (South Africa & UJ, 2020) Njamba Kapalu (Zambia & WITS, 2020) Suntosh Pillay (South Africa & UKZN, 2008) Andrew Akpan (Nigeria & UJ, 2018) ALUMNI AFFAIRS 53

WHERE ARE THEY NOW? After the completion of their years in Emmanuel Nibishaka residence as scholars, our alumni move (Rwanda & NMU, 2011) on to lead in various capacities. Here are some updates on alumni who are doing Since Emmanuel’s year in residence in interesting and impactful things. 2011, he has held various positions of leadership. Since 2019 he has been Deputy Chief Executive Officer of the Rwanda Governance Board (RGB). Emmanuel has held various roles that involved peace-keeping, conflict prevention and African security. Over the past decade, he has worked at the Institute for Security Studies, the Peace Mission Programme and the African Security Analysis Programme. After leading the International Politics programme of the Rosa Luxembourg Foundation’s Southern Africa Office, Emmanuel joined the Diplomatic Services of the Government of Rwanda in 2013 and became the First Counsellor of the Permanent Mission of Rwanda to the United Nations in New York (2013 -2017). Before his current role, he was Secretary-General of the National Human Rights Commission (NCHR) of Rwanda. Emmanuel has hopes that his work will make a modest contribution to the safety, security and stability of his country, Rwanda, as well as to peace and security efforts around the world and particularly in Africa. 54 W H E R E A R E T H E Y N O W ?

Melody Asukile Bovinille Anye Cho (Zambia & UCT, 2016) (Cameroon & SU, 2017) Today, Melody is one of the few qualified Bovinille (Bovi) completed a Masters in neurologists in Zambia. Her journey speaks Chemical Engineering at Stellenbosch to leading based on lessons derived from University during his time in residence as a personal experience and understanding Mandela Rhodes Scholar. Bovi completed her context. his MEng degree with distinction in 2018, with a first-authored publication in the Melody studied Medicine at the University Chemical Engineering Journal, titled of Zambia. During her year in residence as a ‘The development of a thermosiphon Mandela Rhodes Scholar she did a Masters photobioreactor and analysis using degree in Neurology. Her personal journey Computational Fluid Dynamics’. In 2019, influenced her decision. She experienced he began a new journey in the UK as a a sustained bout of illness, which was Commonwealth Scholar in pursuit of a difficult to diagnose. Throughout this PhD in Chemical Engineering. process there was only one neurologist at the Zambian hospital. She identified this Today, as a PhD candidate at the University as a critical need in her country. of Manchester in the UK, Bovi describes himself as a highly numerate Biochemical Melody’s story is one of advocating for Engineer. The skills he is learning are herself and her country. She intends to geared towards the development of new continue this work by providing education modelling and optimisation frameworks to doctors, including general practitioners for addressing complex multi-scale working in communities, on Neurology systems in the production of high value and common neurological conditions. The bio-products and biofuels. Bovi has the steps she has taken in this regard include resilience and aptitude to work towards contributing to the development of an his goals and the work he has delivered online course for UCT, which to date, has along with his current position further had participants from 20 African countries. solidifies this. ALUMNI AFFAIRS 55

WHERE ARE THEY NOW? DEVELOPING DISEASE DETECTIVES Dr Alex de Voux (South Africa & UCT, 2005) and inequities in the healthcare system. These is training the next generation of field gaps have made the pandemic much harder on epidemiologists to respond to COVID-19 and healthcare workers, she says. future pandemics. Alex completed her PhD in Epidemiology at Alex de Voux was one of the first eight Mandela Emory University in Atlanta, Georgia. In 2015 Rhodes Scholars in 2005. Everybody wanted a she joined the Centers for Disease Control and piece of the Madiba magic, and Alex and her Prevention (the CDC), where she worked as an cohort found themselves at the centre of a media Epidemic Intelligence Service (EIS) Officer. “At frenzy. This was an overwhelming experience for the heart of my work is a curiosity and a drive an introverted immunology student, and she to learn, and to identify how public health recalls meeting Mr Mandela as an out of body interventions can make the biggest difference experience. “We had as normal a conversation on a population level. At the core of it is thinking as you could imagine with media there and about human behaviour and what drives us cameras flashing,” she says. He immediately to make decisions that may put us at risk of cracked a joke to put her at ease: “He asked me disease.” Alex comes across as soft-spoken and about myself and showed genuine interest in reserved, but when speaking about her work the scholars. I remember most how funny and she combines the endlessly inquisitive mind personable he was. Time was suspended in of the scientist with the big heart of someone those brief moments.” concerned about social justice. 15 years later, Alex is a senior epidemiologist Alex is interested in how inequality can at the National Institute for Communicable drive health outcomes, leading to the most Diseases (NICD) in Johannesburg. In January vulnerable people being disproportionately of 2020, the NICD was an obscure acronym. affected by infectious diseases. Her PhD aimed By March, South Africans were desperately to understand how social and sexual network decoding its daily statements, and once again attributes place certain individuals at greater risk Alex was at the centre of a whirlwind. The of HIV infection in South Africa. At the CDC she NICD had been preparing for months by the practised making the findings of her research time COVID-19 arrived in South Africa, and Alex accessible and meaningful to a lay audience. has been closely involved in the response. A Although Alex has been asking the kinds of large part of her job is training new graduates ethical questions that COVID-19 has raised more in Field Epidemiology. These trainees have broadly for a long time, she holds her expertise played a critical role in South Africa’s response very lightly. to COVID-19, doing much of the door-to-door field work and contact tracing. This detective As a leader and mentor, Alex believes that being work helps epidemiologists understand the a good epidemiologist is about more than just drivers of negative health outcomes (for example technical skills or hard work: “It’s about the increasing COVID-19 infections) and identify or why: the principles of achieving positive health improve interventions. Alex is both inspired outcomes for the population, and addressing by the extraordinary commitment of her things like inequitable access to healthcare – that colleagues and trainees, and concerned by how is the motivation,” she says. Additionally, Alex the pandemic has exposed existing shortages says that developing her emotional intelligence 56 W H E R E A R E T H E Y N O W ?

SPECIAL FEATURE 15 YEARS LATER has helped her extensively in her career. She encourages her trainees to appreciate the importance of learning to word an email or how to give negative feedback in a constructive way. Alex says her time in residence as a Mandela Rhodes Scholar was transformative in this regard. “It was the first time I’d been in an institution or academic environment where EQ was the core of the conversation. We weren’t looking at each other as scholars in terms of our disciplines and research, but as people, as individuals with life stories and histories and complexities and emotional qualities. We were talking about our self-worth. We were asked what kind of leaders we wanted to be, in terms of kindness, empathy, accessibility, and thinking about your impact. It completely shifted my perspective and made me think about myself as a leader very differently.” Today Alex strives to maintain open and accessible relationships with her students, to support them to build their own EQ and soft skills. A mom to two young daughters, Alex has recently taken up mountain biking and has surprised herself by becoming a bit of an adrenaline junkie. She says it gets her out of her head and into the world. She encourages her daughters to be curious and brave, and to pursue the questions for their own sake – not just to find the right answers. ALUMNI AFFAIRS 57

GOVERNANCE



GOVERNANCE STRUCTURES A DIVERSITY OF PERSPECTIVES TO CHART OUR FUTURE The Mandela Rhodes Foundation is powered by people who are deeply invested in seeing Mr Mandela’s vision for the transformation of Africa realised. We are governed by an independent board of high-profile Trustees, who give their time on a voluntary basis. We are run by a small and very committed staff team. The Foundation’s staff and trustees come from a range of generations, disciplines, nationalities and backgrounds, and our strength is in how we bring our diversity to bear on our common purpose. Our governance structures include the board and four sub-committees that meet regularly and are made up of independent outsiders, Trustees and management. Each year the Mandela Rhodes Scholars are selected by three Selection Committees, which are also constituted of a mixture of staff, independent volunteers, and trustees of the MRF. SELECTION COMMITTEES FOR CLASS OF 2020 COMMITTEE 1 COMMITTEE 2 COMMITTEE 3 Ms Judy Sikuza (Chair) Professor Njabulo S. Ndebele (Chair) Ms Judy Sikuza (Chair) Mr Tim Cumming Ms Judy Sikuza Ms Margie Keeton Ms Coralie Anyetei Ms Coralie Anyetei Mr Sello Hatang Ms Rachel Nyaradzo Adams Ms Grace Matlhape Ms Coralie Anyetei “I have been helping to select scholars for 16 years. It has been a privilege to meet so many young people, each bursting with talent, hope and purpose and to watch them move into the warm embrace of the ever-growing Mandela Rhodes family. Each new scholar adds at least one stitch to the unfolding human tapestry of growth, challenge and transformation the MRF is weaving into new learning and leadership for our country and our continent.” - Ms Margie Keeton, Selector 60 G O V E R N A N C E S T R U C T U R E S

BOARD OF TRUSTEES Professor Njabulo S. Ndebele (Chair) Dr Mo Ibrahim Ms Janet Kabiru Dr Elizabeth Kiss Mr John McCall MacBain Dr Phumzile Mlambo-Ngcuka Dr Osmond Mlonyeni Justice Yvonne Mokgoro Justice Catherine O’Regan GOVERNANCE COMMITTEES EXECUTIVE COMMITTEE Professor Njabulo S. Ndebele (Chair) Dr Elizabeth Kiss Justice Yvonne Mokgoro Ms Judy Sikuza FINANCE, AUDIT & RISK COMMITTEE Mr Mustaq Brey (Chair) Ms Janet Kabiru Ms Thobela Mfeti Mr Nkazi Sokhulu INVESTMENT COMMITTEE Mr Tim Cumming (Chair) Mr Jacques Conradie Ms Muitheri Wahome Ms Judy Sikuza Dr Osmond Mlonyeni REMUNERATION COMMITTEE Dr Elizabeth Kiss (Chair) Mr Mustaq Brey Professor Njabulo S. Ndebele 61G O V E R N A N C E

The MRF enables many of Africa’s most promising young people to pursue a post-graduate education. Beyond that, it provides opportunities for its scholars to develop and grow through workshops and forums which are thoughtfully designed to encourage reflection and facilitate conversations around Africa’s most important issues, as well as through mentoring. This work positions the Mandela Rhodes Scholarship as one of the best leadership development programmes with a continental focus. Ms Janet Kabiru, Trustee 62 G O V E R N A N C E S T R U C T U R E S

OUR STAFF Ms Judy Sikuza Mrs Coralie Anyetei Ms Julia Brown Ms Gigi Edross-Jeppie CEO Programme HR & Executive Executive Assistant & Manager Operations Manager Assistant Mr Ernst Gerber Mr Joseph Maisels Ms Abigail McDougall Operations Communications & Director Alumni Relations Associate Alumni Relations Manager Ms Zaiboonisha Naidu Ms Lunathi Ngwane Ms Shivon Philand Ms Ayanda Radebe Accountant & Operations Programme Communications Officer Officer Building Manager Officer Biographies of our Trustees and staff are available at www.mandelarhodes.org. 63G O V E R N A N C E

FINANCIAL HIGHLIGHTS FOR THE YEAR ENDED 31 DECEMBER 2020 Statement of financial position Notes 2020 2019 2018 Investments 3 R R R Increase/ (Decrease) Cash and cash equivalents 4 731 263 587 660 537 742 616 635 038 Increase/ (Decrease) 7% -3% 11% 61 050 780 65 625 616 50 771 349 -7% 54% -17% 7 300 627 6 055 875 21% -75% Income statement 1 947 547 Revenue -73% 17 211 396 18 211 189 Increase/ (Decrease) -5% 35% Investment income 22 072 424 Increase/ (Decrease) 28% (36 978 192) (39 104 818) Other operating expenses -5% 17% Increase/ (Decrease) (33 115 211) Surplus/ (Deficit) for the year -10% (12 476 839) (14 841 508) Increase/ (Decrease) -16% -465% (10 615 920) -15% 51 793 468 16 022 245 223% 99% Other comprehensive income 70 707 801 Changes in the fair value of investments 37% Increase/ (Decrease) NOTES TO THE FINANCIAL HIGHLIGHTS FOR THE YEAR ENDED 31 DECEMBER 2020 1. Nature of business The Mandela Rhodes Foundation Trust was formalised on 9 June 2003 as a joint initiative between The Late Nelson Rolihlahla Mandela and the Rhodes Trustees (hereinafter jointly referred to as ‘the Founders’). The Rhodes Trust pledged a benefaction over time of Ten Million Pounds Sterling (£10 000 000.00) for the purposes envisaged by the Trust Deed. The central purpose of the Foundation is to build exceptional leadership in Africa. This objective is advanced through the implementation of programmes, the flagship programme being the Mandela Rhodes Scholarships, which became operational in 2005. Details of the programme are to be found in the Foundation’s annual yearbooks and on the website www.mandelarhodes.org. The Board of Trustees reviews strategy and implementation annually. 64 F I N A N C I A L H I G H L I G H T S

2. Financial highlights This financial highlights report has been prepared by the Trustees of the Trust. It contains only extracts of the information contained in the annual financial statements ‘The Mandela Rhodes Foundation Trust Annual Financial Statements for the year ended 31 December 2020’ and does not contain full or complete details. The annual results have been audited by the Trust's auditors, PricewaterhouseCoopers Inc. who expressed an unmodified audit opinion thereon. This opinion is available, along with the annual financial statements on the Trust's website at https://www.mandelarhodes.org/about/governance-staff/. 3. Investments 2020 2019 R R Opening balance Total additions 660 537 742 616 635 038 Total disposals Total fair value (loss) gain (including exchange rate differences) 154 287 731 37 629 519 Reinvestment of dividends (157 140 532) (60 935 405) 70 707 801 51 793 468 2 870 846 15 415 122 731 263 587 660 537 742 Equity investments at fair value through other comprehensive income (FVOCI) comprise the following individual investments: Marketable securities A) Domestic equity fund 35 920 236 67 765 718 B) Domestic funds 280 479 865 260 541 667 C) Domestic Securities – Preference and equity shares 38 890 518 51 953 432 D) Foreign Investment equity fund 207 020 918 92 390 075 E) Foreign Investment hedge fund 168 952 049 187 886 850 Total investments 731 263 586 660 537 742 A marketable security is a liquid financial instrument that can be readily converted into cash. In the case of The Mandela Rhodes Foundation Trust, these typically constitute a participatory interest in unit trusts, mutual funds or collective investment schemes. The Mandela Rhodes Foundation Trust’s participating interest can be bought or sold either via the relevant management company or a linked investment service provider. 65G O V E R N A N C E

Investment policy and performance The portion of the Annual Funding Reserves which is held in the Investment Portfolio is The investment of the Foundation's assets is also invested under the same mandate as the overseen by the Investment Committee on Endowment Reserves. behalf of the board. The Investment Committee meets at least four times a year. It also receives The assets in the Investment Portfolio are periodic information and advice from the invested in a suitable mix of equities, property, appointed asset consultants (AlphaWealth) as bonds and cash as well as in hedged or to the appropriate asset allocation targets and absolute-return funds. These investments are exposures as well as the choice of investment typically made via collective investment vehicles managers and funds to invest in. However managed by leading asset managers. the decisions on these matters remain the responsibility of the Investment Committee. Since inception of the Investment Portfolio’s mandate in 2009, the Investment Portfolio Scholarships are funded from two sources: The has performed well relative to the investment Endowment Reserves (which resulted from objectives, achieving an annualised return of donors having contributed sufficient capital 10.7% compared to the investment target of to fund one or more scholarships each year 9.6% p.a. This equates to a real return of 5.6% in perpetuity) and from the Annual Funding p.a. (cf: target of 4.5% p.a.). Reserves (which holds the aggregate of smaller donations that were sufficient only to fund part There has been a steady trend of outperformance or all of one or more scholarships at a time over in recent years with a 3-year annualised return a limited number of years). of the portfolio of 9.4% p.a. compared to our targeted return of 8.3% p.a. over that period. The Investment Portfolio comprises the sum of the Endowment Reserves and that portion Whilst 2020 was a very dramatic year due to of the Annual Funding Reserves that are not the impact of the pandemic, the Investment expected to be used in the short run. The Portfolio achieved an excellent nominal return balance of the Annual Funding Reserves is held of 14% against a targeted return of 7.8% for the in bank deposits. year. This equates to an outstanding real return of 10.7% which also happens to be around 10 In the case of the Endowment Reserves, the percentage points higher than the average long- investment objective for these funds is to term investment portfolio managed in South achieve a real return (i.e.: the nominal return less Africa during 2020. the inflation rate) of at least 4.5% p.a. over the long run within acceptable degrees of risk. This Much of this strong performance was due to is in line with the Board’s intention to maintain some exceptional returns achieved by both SA the Foundation’s “spend rate” from these and International hedge fund and absolute- Endowment Reserves (i.e.: the total expenses return managers combined with the Fund’s covered by the Endowment Reserves as a high exposure to foreign currency priced assets percentage of the Endowment Reserves) at or – which more than comfortably made up for the below 4.5% per year over time, thus ensuring the poor performance (in both relative and absolute ability to sustainably support the Foundation’s terms) of local long-only equity investment funds. work and the scholarships funded from this source of donations in perpetuity. 66 F I N A N C I A L H I G H L I G H T S

FINANCIAL HIGHLIGHTS At the end of December 2020, the investment portfolio had a 51% exposure to South African securities (2019: 56%), comprising 10% in SA long-only equity funds and preference shares (2019: 17%); 24% in equity hedged multi-strategy funds (2019: 25%); 9% in SA credit assets (2019: 14%) and 8% in cash and cash-alternatives (2019: 0%). 49% of the investment exposure was international (not including the international exposure within the SA-listed equity funds) (2019: 44%) – of which 25% was invested in international long-only equity funds (2019: 14%); 24% in absolute return/hedged funds (2019: 27%); 2% in Gold ETFs (2019: 0%); 0% in international real-estate (2019: 0%) and 0% in managed-cash (2019: 4%). 4. Cash and cash equivalents 2020 2019 R R Cash and cash equivalents consist of: Cash on hand 2 000 2 000 Bank balances 3 200 275 2 667 892 Nedbank – local cash 32 926 150 36 128 425 677 673 3 347 565 Credo – offshore cash 1 856 097 24 336 083 Investments – Nedbank Fixed Capital Fund 12 786 827 33 367 133 (Previously: BoE Fixed Capital Fund) 14 642 924 57 703 216 Total cash and cash equivalents 50 771 349 61 050 781 67G O V E R N A N C E

DONORS AND SUPPORTERS The MRF’s founding benefaction came from the partnership that Mr Nelson Mandela entered into with the Rhodes Trust in 2003. Since then, we have benefited from the extraordinary generosity of major donors who have made funds available to establish further Mandela Rhodes Scholarships. These donors share our vision of equipping the next generation of leaders who will make meaningful positive change on the African continent. ENDOWMENT DONORS These organisations and individuals have made significant donations to our endowment, covering the cost of one or more Mandela Rhodes Scholarships in perpetuity. \"46664 is delighted to be in a position to support the work \"This is a journey of a million steps and we look forward of The Mandela Rhodes Foundation in identifying and to contributing toward promoting The Mandela Rhodes nurturing the next generations of young African leaders, Foundation’s principles of leadership, education, distinguished by their excellence and their ethics.\" entrepreneurship and reconciliation.\" David Cohen The Friends of the MRF (USA) \"The Mandela Rhodes Scholarships represent the future I \"The Friends of the Mandela Rhodes Foundation (USA) wish for Africa – education, leadership and civic society – wishes all at the Foundation and all the Mandela Rhodes together realising the potential of this great continent.\" Scholars, every success in their continuing endeavours in this important work for Africa.\" \"Leadership is the key to Africa’s future and the Mandela \"The aspirations of The Mandela Rhodes Foundation Rhodes Scholarships programme plays a crucial role in and The Leverhulme Trust are in the happiest of resonance; developing the leaders of tomorrow from Africa, for Africa.\" the target itself remains as crucial and challenging as it ever was.\" \"We are investing in the success of future Mandela Rhodes \"OUP is committed to transformation and empowerment Scholars. We are partnering with the MRF to help nurture in South Africa and we believe that our innovative future leaders, especially in the fields of maths and science. partnership with The Mandela Rhodes Foundation goes This partnership speaks of our commitment to SA and our right to the heart of the spirit of transformation.\" drive to invest in education.\" 68 D O N O R S A N D S U P P O R T E R S

558 30 35 16 SCHOLARS COUNTRIES DISCIPLINES COHORTS \"We are guided by the principle of creating a legacy of \"In the end it is about creating opportunities … leaders and are committed to transformation and making a opportunities to learn, to grow, to develop, to help our positive impact. We are proud to partner with The Mandela youth to become the best they can be.\" Rhodes Foundation – an organisation dedicated to making a difference to the futures of our young people.\" Gary Lubner \"Creating any serious, new organisation is challenging. History teaches us that creating institutions that will endure \"It is a source of great pleasure to me that we have been is even more difficult … the MRF has achieved the objectives able to bring into being, in the name of my family, an in terms of Mr Mandela’s and the Rhodes Trust’s ideals. More additional Mandela Rhodes Scholarship. I know that the than a decade on, the future of the MRF has never been beneficiaries will make the most of the opportunity.\" brighter or more exciting.\" \"The McCall MacBain Foundation is very proud to support \"As the founding fathers of South African democracy and the important role The Mandela Rhodes Foundation plays Sibanye Gold, both Nelson Mandela and Cecil John Rhodes in offering unique opportunities for some of Africa’s most have played a significant role in shaping the leaders of this promising young leaders.\" country. We are pleased to be associated with The Mandela Rhodes Foundation.\" \"The Peter Cundill Foundation Trustees believe that their \"Unilever South Africa believes true change comes from mission – promoting the health, education and well-being long-term investment in our country’s young people. We of young people – fits very well with The Mandela Rhodes are proud to continue Unilever’s legacy Foundation’s central purpose of building exceptional of supporting the development of tomorrow’s leaders leadership capacity in Africa.\" through our partnership with the Mandela Rhodes Foundation.\" 69G O V E R N A N C E

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DONORS AND SUPPORTERS I have been privileged to GENERAL DONORS serve on the Board for the These individuals and organisations have past few years and I am given generously to the programmes, projects delighted that MRF is able and operations of the Mandela Rhodes to offer quality education Foundation itself. for many African youths. • De Beers Fund Education is crucial for • Anglo American Chairman’s Fund the development of young • McCall MacBain Foundation Africans. We hope to move • Mo Ibrahim Foundation • Royal Embassy of Norway this continent forward. • Provincial Government of the Western Cape • Northam Platinum Dr Mo Ibrahim, • Louis Vuitton Trustee • Derek Schrier & Cecily Cameron • The Foschini Group • Individual Rhodes Scholars • Anonymous Donors • Earthquake South Africa • Mandela Rhodes Place • Interpark South Africa • Compass Travel • Solomon Gallery • John Hughes • Treble Entertainment • World President’s Organisation • Guiseppe Ciucci • Amade • Singapore Airlines • Ronald Goldblatt • Bonhams • Isaac & Khumo Shongwe 71G O V E R N A N C E

Would you like to support the work of The Mandela Rhodes Foundation? You can contribute to our endowment fund to create a scholarship in perpetuity, support a scholarship on an annual basis, or make a general donation to the Foundation. The MRF has donation vehicles in South Africa, America and the UK and Europe. 72 H O W T O D O N A T E

HOW TO DONATE BECOME AN ENDOWMENT DONOR Support one or more Mandela Rhodes Scholars each and every year in perpetuity. Endowment donors receive full recognition for their support through the partnering of our name with theirs in respect of the scholarship(s) they support. Furthermore, they are provided with the opportunity (but not obligation) to develop a relationship with the scholars they support. The capital commitment required to establish a single scholarship per year in perpetuity can be donated over a period of 5 years. SUPPORT AN ANNUALLY-FUNDED SCHOLARSHIP Fund the full cost for a single scholar, or number of scholars, on a year-to-year basis. As in the case of endowment partners, these donors also get similar recognition by the MRF and the opportunity to engage with the scholar(s) they support. MAKE A GENERAL DONATION Many of our donors are unable to fund an entire scholarship but still contribute towards the Mandela Rhodes Scholarships and Alumni Programming. We gratefully accept all contributions no matter how small. These are aggregated with other donations and when they are sufficient to fund an additional scholarship we add a further scholar to the next cohort. Alternatively we use these donations to fund additional alumni programming. If you would like to donate or have any queries, please get in touch with Operations Director Ernst Gerber at +27 21 424 3346, or via e-mail on [email protected]. It is also possible to make a direct deposit for the benefit of the Foundation. Bank Details Bank name: Nedbank Account holder: The Mandela Rhodes Foundation Branch code: 145-209 Account number: 1452 028 060 SWIFT code: NEDSZAJJ The Mandela Rhodes Foundation is registered as a Trust (Trust No. IT5164/2003), as a Public Benefit Organisation (PBO No. 930004744) and as a Non-Profit Organisation (NPO No. 038-181-NPO). The Foundation is therefore in a position to issue tax certificates for donations made in compliance with South African Income Tax Law. We also have a B-BBEE vehicle that is reserved exclusively to fund Black South African students selected for our programme. For American donors, we have a donation vehicle and can issue a receipt for US tax filings via the King Baudouin Foundation. GOVERNANCE

YOUNG AFRICAN, Aspire to be a Mandela Rhodes Scholar if you dream of being a leader; a leader in whose blend of character and intellect Africa will take pride. Aspire to this if you believe you have within you the moral force of character and instinct to lead; and understand that leadership is more than personal ambition, it is also service, requiring the will and capacity to inspire and develop fellow human beings to their own excellence; Aspire to this if you believe that the advancement of individual and social fulfillment, human rights, dignity, the achievement of fundamental freedoms, is among the highest of callings; Aspire to this if you believe that hard work is essential, and you esteem the performance of public duties to be among the noblest of aims. Aspire to be a Mandela Rhodes Scholar if you understand education to be both a gift and a tool for the advancement of human development, to the benefit of all. Aspire to this if you value and pursue scholastic attainment, but understand that intellectual excellence is not to be seen in isolation from other qualities of character; that leaders require a roundedness of personality; Aspire to this if you believe that in receiving an exceptional education, an individual embraces a responsibility to foster such opportunities for others; Aspire to this if you believe that your own success might also make a difference to others. Aspire to be a Mandela Rhodes Scholar if you believe in an entrepreneurial spirit to allow Africa to take with dignity its rightful place as an equal and competitive presence in the global world. Aspire to this if you have the vigour to pursue this aim with integrity; and the energy to use your talents to the full, as exemplified by a fondness for and success in team pursuits beyond the confines of your professional career; Aspire to this if you believe that individual human effort, innovation and creativity will lead to the betterment of society and an effective contribution to the world; Aspire to this if you love Africa and all of its peoples. Aspire to be a Mandela Rhodes Scholar if you believe in reconciliation, freedom, peace and prosperity among all human beings, who should share equal citizenship and opportunities in this world. Aspire to this if you believe in being part of creating a humane world in which all individuals and cultures enjoy equal respect; a world whose emergence will say a new order is born in which we are all each other's keepers; Aspire to this if you value truth, courage, devotion to duty, sympathy for and protection of the weak, kindliness, unselfishness and fellowship; Aspire to be a Mandela Rhodes Scholar if you believe that the past, in all its imperfection, should be harnessed to benefit the present and the future.