South African investment firm Motseng Investment Holdings, co-founded and led by businesswoman Ipeleng Mkhari, has secured a major role in the next phase of the Gautrain after joining a consortium awarded a 15-year concession to operate and maintain the rail network.
Through a partnership with African Infrastructure Investment Managers (AIIM), Motseng is part of Sihamba Sonke Mobility, the consortium that reached financial close and assumed responsibility for the Gautrain on September 28, 2026.
The concession runs through 2041 and covers the operation, maintenance and refurbishment of the approximately 80-kilometre rail network, as well as its feeder bus services connecting Johannesburg, Pretoria and OR Tambo International Airport.
Motseng entered the Gautrain bid through its joint venture with AIIM, one of Africa’s major infrastructure investment managers.
The wider consortium includes French transport company RATP Dev, train manufacturer Alstom, engineering firm GIBB-Crede, AIH Connect and SSM InvestCo, a black broad-based ownership vehicle.
The financial details of Motseng’s participation, including its equity stake and investment value, have not been disclosed.
The new concession follows the conclusion of the previous agreement with Bombela Concession Company in March 2026 and was awarded through South Africa’s public-private partnership framework in cooperation with the Gautrain Management Agency.
The new operators have committed to significant improvements across the Gautrain system during the concession period.
Plans include increasing train frequency outside peak commuting periods, extending operating hours and growing the fleet from 24 to 32 four-car trains.
The consortium also intends to expand feeder bus services and introduce smaller buses to improve connections between Gautrain stations and surrounding communities.
Alstom’s portion of the concession is valued at approximately €800 million over its duration. The company will manufacture eight new trains locally, upgrade signalling infrastructure, refurbish existing trains and provide long-term maintenance services.
RATP Dev, which has operated the Gautrain through its Bombela Operating Company since the system opened in 2010, will remain responsible for operations.
Mkhari co-founded Motseng in 1998, initially building the business around investments in the security sector before expanding into property and other industries.
The group has since developed interests spanning asset management, property, infrastructure, logistics and industrial manufacturing.
Mkhari also co-founded Delta Property Fund, which listed on the Johannesburg Stock Exchange in 2012 with a property portfolio valued at about R2 billion at the time.
Her career has made her a prominent figure in South Africa’s property and investment sectors. She has served as president of the South African Property Owners Association and chaired the Women’s Property Network.
In September 2025, Mkhari became independent non-executive chair of Attacq, the JSE-listed property company behind Waterfall City in Midrand.
The Gautrain concession represents Motseng’s most significant infrastructure mandate to date and gives the investment group exposure to one of Gauteng’s most important transport assets.
The rail network has carried more than 216 million passengers since opening, making the new concession a major commercial and strategic opportunity for the consortium.
For Motseng and Mkhari, the deal also signals a broader evolution of the group — from its early roots in security and property into large-scale infrastructure investment and long-term public transport assets across South Africa.
