Our Services

We offer our corporate as well as public sector clients a range of services aimed at improving performance, efficiency, effectiveness, impact and sustainability of their development programmes and social investments. Some of our research and advisory services include:

  • Feasibility studies, baseline assessments, socio-economic analysis
  • Independent evaluations and impact assessments
  • Strategy development and programme design
  • Alignment to SDGs, A2063, NDP and sub-national planning frameworks
  • Compliance to international & national standards (ESG, IFC, SLP, B-BBEE, SRI, MK, etc.)
  • Monitoring, information and reporting systems
  • Data analytics, econometrics, forecasts and modelling
  • Capacity-building in areas of monitoring and evaluation and results-based management
  • Social/sustainability/environmental strategy and development planning
  • Impact investing / joint trust funds – development and oversight
  • Innovation, digital solutions, toolkits & technologies, 4IR adaptation.
  • GHG calculations, accounting and reporting – carbon advisory (taxation, reduction, offsetting)

Our clients

  • Corporate social investors and impact investors
  • National and sub-national government and parastatals
  • International aid agencies and development finance institutions
  • Non-profit organisations and philanthropic foundations


Who we are

Pan African Investment & Research Services (PAIRS) is a leading African economic research and advisory firm headquartered in Johannesburg, South Africa. PAIRS provides innovative and evidence-based solutions to development challenges, by maximising both investor and public value. Its trans-disciplinary approach combines rigorous analysis of data from the field with seasoned political economy insights when tackling socio-economic complexities of the continent.

PAIRS consultants have experience working in the financial sector, extractive industries, logistics, energy and environment. With regard to public policy and community development, PAIRS expertise ranges from health, education, youth employment, entrepreneurship, gender and women empowerment.

Our technical team combines passion for sustainable development, with sound investment and monitoring and evaluation skills. PAIRS experts include seasoned and young economists, statisticians, social scientists, data analysts, management consultants and specialists in areas of finance and investment, public-private partnerships, results-based management, strategic planning, impact measurement, economic modelling, participatory research methodologies, capacity-building and organisational transformation.

Our Technical Experts

The core ESG technical team of PAIRS comprises of:

Dr. Neissan A. Besharati, Director for Sustainability, ESG and Impact Advisory

Neissan holds a Masters in International Social Development (UNSW, Australia) and a PhD in Public Policy & Development Management (Wits, South Africa) with specialisation in impact measures and monitoring and evaluation systems. He is as a senior research associate at several prominent development think-tanks an international universities, including the UN Knowledge Centre for Sustainable Development and the Centres for Learning on Evaluation and Results (CLEAR). With over 20 years of experience as a seasoned consultant, Dr. Besharati has worked with multinational firms (EY, Deloitte, PWC, Anglo American) and served as a senior advisor to governments, philanthropies (Gates & Rockefeller Foundation), non-profit organisations, development finance institutions, international and regional organisations. He is a renown evaluator having conducted some of the most sophisticated impact assessments for large private investors in Africa. He currently sits on various United Nations, World Bank, African Union and OECD expert groups and committees. He is a globally respected thought leader and has published extensively in areas of sustainable development, ESG, innovative development finance, public-private partnerships, impact/social investing, emerging markets, monitoring and evaluation, illicit financial flows, and international development cooperation.

Mashadi Monaledi, Social and Environmental Specialist

Mashadi holds an Honours in Social Sciences (University of Cape Town, South Africa) and Masters in Development and Management (North-West University, South Africa). She has been a practicing sustainability practitioner for 13 years and currently runs her own consultancy. Ms Monaledi has worked with mining corporations (Aquila Steel, Glencore, Kudumane Manganese Resources). She’s also worked with consulting companies, including; Metago Environmental Engineers, Synergistics Environmental Services, EXM Advisory Services as well as non-profit organisations, most notably, Afrika Tikkun and Infinite Family. She has expertise in Socio-Economic Development, Corporate Social Investment, Social and Labour Planning & Implementation, Social Impact Assessments, Stakeholder Engagement, Public Participation, and Transformation. She currently sits on the Board of Association of Private Providers of Education, Training and Development (APPETD).

Dr. Edward T. Jackson, Senior Associate (Gender and Impact Finance)

Ted Jackson is a university professor and management consultant specializing in impact management and measurement and ecosystem-building in impact investing, blended finance and gender lens investing in emerging markets in Africa, Asia and the Americas. He has advised the development cooperation programs of Australia, Canada, Denmark and the United Kingdom, the Mastercard and Rockefeller foundations, the Caribbean Development Bank, Emerging Markets Impact Investment Fund, German Institute for Development Evaluation, International Development Research Centre, Investing in Women, World Bank, United Nations Environment Program, and UN Women.  A former tenured public-policy professor and associate dean at Carleton University, Dr. Jackson currently serves as Senior Fellow at the Carleton Centre for Community Innovation, Honorary Associate with the Institute of Development Studies, and President of E. T. Jackson and Associates Ltd.  He also serves as Associate Editor of the Journal of Sustainable Finance and Investment and member of the Council of the International Evaluation Academy.  His recent publications include Evaluating Blended Finance Instruments and Mechanisms, an OECD working paper, and Measuring Women’s Job Quality, for the Overseas Development Institute. Originally trained in adult education and community development at the University of Toronto, Dr. Jackson earned certification as a responsible investment professional (RIPC) from UNPRI and Canada’s Responsible Investment Association.

Nthabiseng Tsoanamatsie, Senior Economist

Nthabiseng has worked in the field of economic research for 10 years, and she has been a senior economist at PAIRS for the past 6 year. Prior to this she worked for both the University of Pretoria and the Human Sciences Research Council.  She received her masters degree in economics from the University of Pretoria and has completed her PhD course work with the same university. She has been involved in research work for both the public and private sector. Her work has largely been focused on macro-economics, development economics, economic modelling as well as time series and panel data econometrics. She has presented papers on financial development and economy-wide modelling for policy analysis.  She has undertaken research projects in a wide range of sectors including telecoms, manufacturing, government, tourism, mining and consumer products. She has also worked on a number of ESG related projects including work on South Africa’s energy transition and issues concerning governance of South African state owned entities (SOEs), education and health.

Alicia Paramanund, Renewable Energy and Environmental Specialist

Alicia has attained a master’s degree in Environmental Law (LLM) through the University of KwaZulu-Natal, and a BSc Hons. in Environmental Management through UNISA. Having worked mainly in the renewable energy sector for over 13 years, she specialises in environmental management with a key focus on renewable energy projects and sustainable development. Alicia has worked as an environmental assessment practitioner (EAP) for over 7 years, having led and been involved in an extensive list of environmental impact assessment (EIA) processes for various projects. She also worked as environmental; business development; and bid led for several Independent Power Producers (IPPs). Her areas of expertise include business development; environmental regulations and compliance (Renewable Energy, Power, Infrastructure, Mining, Waste); environmental due diligence; project management; design, execution and management of project permitting processes; bid compliance and management; team management; stakeholder interfaces; policy and legislation advisory.

Nici Palmer, Senior Climate and Carbon Associate

Ms Palmer has over twenty years of experience in environmental consulting, with a focus during the last decade on the carbon sector and climate change. She co-founded Carbon Calculated in 2008 on the realization that organizations can manage their environmental impact through the measurement of their consumption and carbon footprint calculations. Since then, she has conducted over one hundred carbon footprint assessments for a wide variety of large and small companies from multiple sectors across South Africa and internationally. She facilitates discussions within organizations, providing insight and support within this complex field with a strategic focus to move clients towards a climate neutral environment. Her experience ranges from carbon reporting and management, partnership building and a comprehensive environmental knowledge particularly around climate change and broader sustainability and ESG. An experienced trainer of Environmental Controlling Officers, Ms Palmer has prepared environmental management projects including Basic Assessment Reports and Environmental Impact Assessments. She completed a BSc Honours at the University of Cape Town in Environmental and Geographical Science and Ocean and Atmospheric Science.

Raesetje Sefala, AI and Data Scientist

Raesetje is an AI Research Fellow who uses Computer Vision, Data Analytics and general Machine Learning techniques to explore research questions with a societal impact. Her current research focuses on creating ground truth datasets and using machine learning and other computational social science techniques to study spatial segregation in post-Apartheid South Africa. She is a qualified Data Engineer and holds a Computer Science Masters degree from the University of the Witwatersrand (South Africa) with a special focus on Machine Learning. She has been technically involved in different complex Data Science projects from around the world that involve building innovative solutions while working with world renowned researchers in the field (Prof. Yoshua Bengio, Prof. Rayid Ghani and Dr. Timnit Gebru to name a few). Her focus is in the use of artificial intelligence to solve problems experienced by developing countries; creating and analysing datasets for machine learning use; designing and developing efficient machine learning pipelines for different types of datasets, and contributing to making better data and technologies that serve disadvantaged communities.

Sankari Reddy, Governance and Legal Associate

Ms Reddy is a practicing attorney in both South Africa and Botswana. She holds an International Masters in Comparative Law, Economics and Finance (Italy), Bachelors of Commerce and Law (Pretoria), Advanced Professional Diploma in International Taxation (Netherlands), and is currently completing her board exams with the Chartered Governance Institute of South Africa (CGISA). She has acted for clients in a variety of sectors involving government relations, taxation, shareholders, employee and DFI disputes. She conducts research and legal forensic audits with both private and public entities approaching their annual reporting to the Auditor General. Her areas of expertise include all aspects of governance and commercial law, King IV, JSE regulatory framework, labour law, public finance management and procurement legislation. She consults for multinational and domestic corporations, development finance institutions and academic organisations in areas of ESG, illicit financial flows, territorial markets for trade. She is a member of Pan-African Finance for Development Institute, South African Black Women in Law, the Institute of New Economic Thinking: Young Scholar Initiative, and has published on the impacts of COVID-19 on surveillance and compliance.

Pamela Nyikavaranda, Monitoring and Evaluation Specialist

Ms Nyikavaranda holds a BSc Honours Degree in Economics from the University of Zimbabwe as well as a postgraduate diploma and a Master Degree in M&E from the University of Witwatersrand, South Africa. She has 12 successful years of consulting experience in rolling out, coordinating, managing, monitoring and evaluation of programmes and projects of various nature. She further possesses vast experience in capacity building development in M&E on Southern African regional forums. She is currently the M&E Consultant for SADC PF on a 5year SRHR programme being implemented in 14 SADC countries. She developed a 3yr Organisational M&E Plan for Southern Africa Trust for their various programmes implemented within Southern Africa. She is an experienced Monitoring and Evaluation Specialist who has both the qualifications and experience in diagnostics, process, design and impact evaluations as well as building monitoring and evaluation systems for both local and international projects. She is currently one of the M&E Specialist behind the South African DSD Design Evaluation for the Food Parcel Project. She has been an M&E Assessor for Mott MacDonald International Development SA on the YOLO USAID funded programme providing advisory services on interpretation of the Results Framework and Theory of Change to the various NPOs who were mandated to implement the project.

Dr. Linda S Khumalo, Social Research, Monitoring & Evaluation Specialist

Dr. Khumalo holds a PhD in Development Studies (University of the Witwatersrand) and a Masters in Industrial Sociology and Labour Studies (University of Pretoria). She is a social researcher with over 7 years of hands-on experience conducting monitoring, evaluation, learning (MEL) and policy analysis. She has successfully facilitated evaluation capacity building workshops and actively collaborated on projects developing M&E systems such as with the German Agency for International Cooperation (GIZ) and the African Tax Administration Forum (ATAF), seeking to enhance organisational performance management. She has previously worked for the African Centres for Learning on Evaluation and Results (CLEAR), where she facilitated workshops for stakeholders in results-based M&E, parliamentary oversight and advocated for the use of evidence for greater development outcomes. Dr Khumalo has worked in evaluation and performance improvement of development projects and has led social sector evaluations as an independent consultant and through her association with Masazi Development Associates, Secure Africa Consulting and PAIRS.

Khwezi Fudu-Cenenda, Investment and Entrepreneurship Specialist

Ms Fudu- Cenenda is Director: Enterprise Development at Avocado vision where she focuses on development of rural entrepreneurs in the green business value chain and township property entrepreneurs. Her previous role as Enterprise development Manager at Tshimologong Digital Innovation Precinct, an Incubation hub for tech and digital startups in Johannesburg owned by Wits university saw her focusing on the digital innovations, including Software, hardware and digital content. She also sat on Investment committees at Wits Commercial Enterprise, making decisions on funding needs for commercialising research and inventions from the university. Her own consultancy specialises in Business Development Services, and Monitoring and Evaluation, particularly for Entrepreneurial and Social Entrepreneurship ventures, as well as ESG. She has vast experience as an investment consultant to pension funds, an international human rights advocate and business development support services to entrepreneurs. Some career highlights include impact analysis done on a women’s entrepreneurship programme in Tanzania, Malawi and Zambia as well as coaching women entrepreneurs in South Africa on behalf of the Graça Machel Trust, as well as a digital transformation programme for women entrepreneurs in South Africa. She holds a B Econ (honours) from Rhodes University and is currently pursuing a Master’s in Management Sciences with the Durban University of Technology, where she is undertaking research on “Gender Balancing strategies for the workplace”. She also holds an Impact Investing certificate from UCT Graduate School of Business and is also an accredited Practitioner-Led Learning Exchange (UK) facilitator in Impact evaluation with the Social Enterprise Academy.

Gifty Volimkarime Kuug, Entrepreneurship and Evaluation Specialist

Gifty Kuug holds an MBA, Certificates from Oxford University (UK), Illinois State University and Harvard Graduate School of Education (USA). She brings over two decades of experience as practitioner in international and humanitarian programmes in areas of youth development, entrepreneurship, sustainable livelihoods, gender, monitoring & evaluation, and human right based initiatives. Gifty is the Project Director for Inclusive Business Sweden- Green Economy Ghana Project and a consulting Country Representative for Crossroads International. Prior to this she was the Country Manager for the EQWIP Hubs Project, where she managed the consortium to build sustainable youth businesses in Ghana in six countries in West and East Africa and three regions in Ghana. Gifty is the founder of CEED, an entrepreneurship research and data hub, where she serves as a director. She is also a foundering member of Impact Investing Ghana and represents CEED at the Impact Investing Ghana Enterprise Support Organisations Technical working group. She has worked in communities and with organisations in Ethiopia, Uganda, Rwanda Zimbabwe, and Cameroon, and with a vast range of development finance institutions. Gifty is a mentor with FP2020, Youth Power Africa Transformation Award challenge and a member of the Oxford Impact Measurement Liber consulting work Group.

 Salma Seedat, Impact Specialist

Ms Seedat holds a Postgraduate Diploma in Development Finance and an MBA specialising in Managing International Organisations from the University of Stellenbosch (South Africa). She has worked in the ESG and impact investment advisory space for 12 years and is currently Executive Director at the Instructional Leadership Institute. She was previously the Director of Risk, Compliance and Special Initiatives for a technology company working on large-scale public health projects. She previously managed a development consultancy group (Greater Capital and Greater Impact) and has consulted for local and international development agencies, including: AMSCO BV, ATMS Foundation, UNDP, Impact@Africa, Stellenbosch University and SAB-ABInBev Foundation. In addition, she is a lecturer on Strategy Management and Leadership Development for MBA and postgraduate students at Stellenbosch University Business School. She has expertise in sustainable development, corporate social investment, impact investing, ESG integration, social impact assessments, and policy development. She currently sits on the Boards of Impact@Africa and the Stellenbosch University Business School Executive Committee of their Alumni Association. She serves on the Steering Committee Member of the Aspen Network for Development Entrepreneurs (ANDE).