# KwaZulu-Natal Joint Municipal Provident Fund

KwaZulu-Natal Joint Municipal Provident Fund is a Pension Fund based in Durban, South Africa.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Durban, South Africa
- **Region:** Africa
- **Address:** 5 Derby Place, Derby Downs Office Park, Westville, Durban, South Africa
- **Founded:** 1942
- **Assets under management:** 2.5B (Altss estimate)
- **Website:** www.njmpf.co.za
- **LinkedIn:** https://za.linkedin.com/company/njmpf

## Regulatory record

- **Reports private funds:** No

## About

The KwaZulu-Natal Joint Municipal Provident Fund was established in 1942 to deliver retirement benefits to municipal workers in the province. Bonginkosi Mkhize serves as CEO and Principal Officer after prior service as CFO. The organization reports governance practices aligned with South African retirement-fund regulations. Investment deployment spans local equities, real estate, and fixed income. Confirmed positions include Naspers, Prosus, FirstRand, Standard Bank, MTN, AngloGold Ashanti, and Anglo American on the JSE. Real-estate exposure includes the Oceans Mall and Tower joint venture in Umhlanga and direct ownership of NJMPF House in Westville. Infrastructure and inflation-linked bonds form a core allocation within South Africa. External mandates run through Ninety One Asset Management and Coronation Fund Managers. The fund employs 50 professionals across offices in Durban and Pietermaritzburg. It maintains the NJMPF Financial Literacy Programme and the NJMPF Going Green Project. In April 2024 the fund hosted its Annual Information Meeting at the Durban ICC to address implementation of the Two-Pot retirement system. Governance rests with a board of trustees chaired by F.F. Zama and supported by external audit from the Auditor-General of South Africa. Membership in Batseta and the Institute of Retirement Funds Africa provides peer oversight on compliance and reporting standards.

## Sectors

- Real Estate
- Infrastructure
- Private Credit

## Offices

- Pietermaritzburg, South Africa

## People

- Bonginkosi Mkhize — CEO and Principal Officer
- F.F. Zama — Chairperson of the Board of Trustees
- Zinhle Ndlovu — Chief Financial Officer

## Questions

### Who runs investment decisions at KwaZulu-Natal Joint Municipal Provident Fund?

Bonginkosi Mkhize serves as CEO and Principal Officer. The board of trustees, chaired by F.F. Zama, oversees strategy. External mandates are executed by Ninety One and Coronation Fund Managers.

### Does the fund participate in fund commitments or only direct deals?

The fund holds direct equity positions on the JSE and joint-venture real estate. It also maintains external mandates with South African asset managers.

### What asset classes receive the largest allocations?

Local equities, infrastructure and inflation-linked bonds, and commercial real estate constitute the primary exposures. Geographic focus remains South Africa.

### How does the fund source real-estate investments?

Direct ownership and joint ventures are used. The Oceans Umhlanga SPV holds the Oceans Mall and Tower development.

### Which industry associations does the fund belong to?

The fund is a signatory to the Principles for Responsible Investment and a member of Batseta and the Institute of Retirement Funds Africa.

### What recent governance events has the fund conducted?

In April 2024 the fund hosted its Annual Information Meeting at the Durban ICC to discuss the Two-Pot retirement system.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/kwazulu-natal-joint-municipal-provident-fund

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