Meet Mike Teke: Ex-teacher leading South African multibillion-rand energy group

In South Africa’s mining and energy sector, Mike Teke has built a reputation as a steady business leader whose rise reflects years of experience across education, human resources, mining, and investment. Today, he leads Seriti Resources Holdings, a black-owned and controlled multibillion-rand giant that has grown into one of South Africa’s most influential energy companies. Under his leadership, the company supplies a significant share of the country’s electricity while investing in renewable energy projects, reinforcing its position across the region. His role at Seriti, combined with his leadership of the billion-dollar Masimong Group, places him among the key figures shaping South Africa’s energy and investment sectors.

Teacher to mining industry leader

Teke’s career began far from boardrooms. After earning a Bachelor of Arts in Education (BA Ed) from the University of the North, now the University of Limpopo, in 1989, he started work as a school teacher at Kenneth Masekela High School. His early years in education laid a foundation that would later shape his leadership approach. He later expanded his academic credentials with a BA Honours degree from RAU, now the University of Johannesburg, and an MBA from the University of South Africa. From there, he transitioned into corporate roles, working in human resources at companies including Unilever, Bayer, BHP Billiton, and Impala Platinum. These roles marked his entry into the mining sector and gave him exposure to large-scale operations and people management. Over the past two decades, he has held numerous senior roles in mining, gaining experience across operations, strategy, and governance.

In 2007, Teke became a founding member of Optimum Coal, where he served as chief executive officer before later becoming non-executive chairman, a role he held until 2015. During this period, he also served as vice president and later president of the Chamber of Mines of South Africa, now known as the Minerals Council of South Africa, holding the presidency until 2017. In 2012, he was appointed chairman of the Richards Bay Coal Terminal board. After stepping down in 2016, he continued his involvement as a non-executive director and chairman of the remuneration committee. These roles positioned him at the center of South Africa’s coal and mining sector during a period of structural change.

In 2013, Teke co-founded Masimong Group following the merger of his assets with those of Douglas Gain. The partnership was built on a shared objective to create an investment platform focused on sectors considered critical to South Africa’s long-term development. Mining, agriculture, financial services, and industrial investments became the group’s primary focus areas. As chairman and controlling owner, Teke has guided the group’s investment strategy toward commodities such as coal, commercial farming, financial services, and industrial production and distribution. The approach, he has said, is designed to address challenges such as poverty, food security, and access to safe water. Through acquisitions, partnerships, and asset sales, Masimong Group has grown into a billion-dollar diversified investment company, majority black-owned and controlled, with interests spanning several sectors.

Teke builds inclusive energy giant

While Masimong expanded, Teke also focused on building Seriti Resources Holdings into a major energy player. The company employs more than 15,000 workers and contractors and supplies coal that helps generate 32 percent of Eskom’s electricity. In addition, 10 percent of Seriti’s shareholding has been ring-fenced for employees and host communities, a structure designed to link long-term growth with local development. A major turning point came on June 1, 2021, when Seriti completed the acquisition of South Africa Energy Coal from South32. The transaction strengthened Seriti’s position in South Africa’s coal sector and helped establish it as one of the country’s largest coal exporters through the Richards Bay Coal Terminal.

Following the acquisition, Seriti expanded to six core operations, alongside projects in development. Through its power unit, Seriti Power, the group operates several major coal mines supplying key power stations. The New Vaal Colliery delivers about 16 million tonnes per annum to Lethabo Power Station. New Denmark Colliery supplies roughly 4 million tonnes annually to Tutuka Power Station, while Kriel Colliery contributes another 4 million tonnes per year to Kriel Power Station. Klipspruit and New Largo operations supply approximately 2.4 million tonnes annually to Kendal Power Station, alongside export-grade bituminous thermal coal totaling about 9 million tonnes per year.

Seriti balances coal and renewables

New Largo also offers long-term potential, with a base-load supply of 12 million tonnes annually to Eskom power stations over roughly 25 years. Meanwhile, Middelburg Mine Services delivers about 7 million tonnes annually to Duvha Power Station, and Khutala Colliery supplies another 7 million tonnes to Kendal Power Station. These operations anchor Seriti’s coal business, even as the company moves into renewable energy. Through Seriti Green, the company is developing renewable energy projects, including the Ummbila Emoyeni project in Mpumalanga. The project includes a 900-megawatt hybrid renewable energy facility featuring 750 megawatts of wind energy from 111 turbines, 150 megawatts of solar photovoltaic capacity, and 800 megawatt-hours of battery storage. Seriti estimates that 5 gigawatts of renewable energy capacity is in its broader pipeline, spanning wind, solar, battery, and hydrogen solutions.

While the company has not publicly disclosed the total investment value, renewable developments of this scale in South Africa often run into several billion dollars, highlighting the financial commitment behind the transition. With coal still central to operations and renewable projects moving forward, Seriti is positioning itself as both a traditional supplier and a future-focused energy giant. The company says it remains on track to meet its social and labor commitments while expanding across South Africa’s energy sector, reflecting Teke’s approach to building businesses that balance long-term supply with investment in new energy sources.

Building South Africa’s investment future

Speaking about his vision for Masimong Group, Teke said: “In building Masimong Group, I seek to create a large-scale, best-in-class investment group that makes a meaningful contribution to the lives of its people and communities. We need to create the next generation of leaders—they need to be empowered, supported, and nurtured.” Beyond Masimong and Seriti Resources Holdings, Teke also serves as chairperson and non-executive director of Anchor Group and non-executive chairman of National Airways Corporation. These roles add to a career that spans education, mining, and investment, reflecting the journey of a former teacher who now leads a multibillion-rand energy group shaping South Africa’s energy and investment landscape.