Bafana Molomo is a Botswana investment professional and private-equity executive who has built a career spanning asset management, private equity, mezzanine finance and development finance. He is co-founder and managing director of Aleyo Capital, a Botswana-based alternative investment manager focused on private equity and mezzanine investments across Southern Africa.

Bafana Molomo previously served as chief investment officer of Botswana Development Corporation (BDC), the country’s development finance institution, after working at Vantage Capital, Venture Partners Botswana and Fleming Asset Management. His career has included investment origination, financial modelling, due diligence, deal structuring, portfolio management and exits across several African markets.

From investment analyst to private equity executive

Bafana Molomo began his career as an investment analyst at Fleming Asset Management Botswana before joining Venture Partners Botswana, where he worked in private equity across Botswana and Namibia.

He later joined Johannesburg-based Vantage Capital as a senior associate, working on its Africa-focused mezzanine debt fund and transactions in South Africa, Botswana, Namibia and Mozambique. In June 2015, he joined BDC, where he became chief investment officer and worked across investments spanning sectors including property, healthcare, ICT, hospitality, consumer products and agro-processing.

Building Aleyo Capital

Bafana Molomo subsequently became a co-founder and managing partner of Aleyo Capital. The firm established and manages the Aleyo Growth Fund I, a hybrid private-equity fund targeting mid-sized, high-growth businesses in Southern Africa.

The fund achieved its first close at BWP500 million ($33.96 million) in August 2018 and reached a final close of BWP587 million ($36.46 million) in December 2021, according to the Southern African Venture Capital and Private Equity Association (SAVCA). He was also involved in the funding and structuring of mezzanine transactions on the R2 billion ($124 million) Africa-focused Fund II, responsible for RSA, Botswana, Mozambique and Namibia deals.

Investing across Southern Africa

Aleyo’s portfolio includes Rainbow Schools, Delta Pharmaceuticals, Flo-Tek Industries, FMRE Property & Casualty and Transport Holdings. Its investment in Rainbow Schools was approved by Botswana’s Competition and Consumer Authority in 2020, while Aleyo acquired Delta Pharmaceuticals in 2025 and provided Flo-Tek with a convertible-debt facility that year.

In 2022, Molomo said Aleyo had completed more than P2.5 billion in transactions across Botswana, South Africa, Namibia, Mozambique, Tanzania and Zimbabwe. Aleyo’s current website separately reports more than BWP1.9 billion in transactions and more than 10 exits.

Molomo holds a BCom in Economics and Finance and an MBA from the University of Cape Town, alongside a postgraduate business qualification from the University of Pretoria’s Gordon Institute of Business Science. He also served as an independent non-executive director of Botswana Telecommunications Corporation until September 2025.