Black Book Black Changers Me G V 013 2

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BLACK BOOK BLACK CHANGERS ME G V 013 2

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THINK AFRICA. THINK RMB.

Traditional values. Innovative ideas.

Rand Merchant Bank is a leading African corporate and investment bank with a respected track record of delivering innovative advisory, funding, trading, corporate banking and principal investing solutions in Africa. With a deal footprint in over 35 countries in Africa, RMB is committed to delivering innovative, world-class solutions to corporate and institutional clients across the continent. For more information on what RMB can do for your business in Africa visit www.rmb.co.za Thinking that can change your world.

Rand Merchant Bank is an Authorised Financial Services Provider PRETTY AWESOME 2205

MESSAGE FROM THE PATRON 02 MESSAGE FROM THE PRESIDENT 04 CEO OF THE DECADE 2012 06 VISIONARY LEADERS – ABSIP EXCO 08

SECTORS

C Suite 20 CONTENTS Asset Management 42 Private Equity 66 Banking/ Investment Banking/ Advisory 70 Government/ SOE/ DFI 114 THINK AFRICA. THINK RMB. Entrepreneurs 120 Physical Address: No. 7 Zulberg Close Integritas II Bruma Lake Johannesburg 2198

Phone: 011 479 0607/23 Fax: 086 549 5147 Traditional values. Innovative ideas. E-mail: [email protected]

Produced and published by: www.ABSIP.co.za

Rand Merchant Bank is an Authorised Financial Services Provider ABSIP PATRON Foreword to ABSIP Black Book

Honourable Nhlanhla Nene, Deputy Minister of Finance

In 1994, we inherited a sophisticated financial sector that was far more advanced that those of other emerging markets. It remains so today and is one of our selling points. But that sector left a majority of our population out in the cold.

Many of our people had no access to financial services and those services when available, did not cater for their specific needs. This is no surprise because black people were hardly in any decision-making positions in financial services firms.

A lot has changed since the dawn of democracy and the publication of the first ever Black Book by the Association of Black Securities and Investment Professionals (ABSIP) is testament to this. These changes notwithstanding, there is much that needs to be done to ensure that South Africa has a financial sector that is truly representative of our nation. Much needs to be done in terms of real financial inclusion. Much needs to be done to ensure that the historically disadvantaged people are truly being empowered in terms of making decisions and influencing company policies.

The financial services sector touches the life of each and every South African and contributes to the real economy. We can therefore, not be complacent about the strides that we have made but should redouble our efforts to accelerate transformation in this sector. I congratulate those of you whose accomplishments we can celebrate and hope that you are making the difference in your corner.

ABSIP GAMECHANGERS – 2013 3 Foreword from ABSIP President

Tryphosa Ramano, President – ABSIP Exco

As the president of the Association of Black Securities and Investment Professionals, it is with pride and joy that I present to you the ABSIP Game Changers: Black Book publication. This is the first edition of the publication by ABSIP, since its establishment 18 years ago.

The publication is in line with ABSIP vision of being “The custodian of black professional interest and black business in the financial services sector and broader economy” in that it strives to provide the human capital investment in the black talent in the financial services sector. This comes at time when the Financial Services Sector Code has been gazetted and also on the eve when the country will be celebrating its 20 years of democracy in 2014.

This Gamechangers: Black Book will be a repository of black talent (ranging from leaders, aspiring leaders and specialist professionals) who will assist this country in transforming the economy. It will be a referenced coffee table book that can be used in promoting the investment in the country and also in African continent. We believe that being included in this exclusive book of black talent is of importance and prestige. ABSIP will continue to lead the way in areas that matter.

We hope that you will find this publication to be useful and informative and will improve with time. We thank all sponsors (in particular Transnet), the editors and the contributors whose hard work and accomplishments are featured in this edition of the ABSIP Gamechangers: Black Book.

4 ABSIP GAMECHANGERS – 2013 ABSIP PRESIDENT BRIAN MOLEFE CEO of the decade 2012 Brian Molefe, Group Chief Executive – Transnet

Congratulations to all the remarkable individuals who are featured in this publication, the ABSIP Black Book for financial professionals. It could not have come at a more propitious time in the history of our maturing democracy.

As we lurch through yet another global financial crisis, it affords an opportunity to pause and reflect on the changing nature of our society - both in South Africa and elsewhere on the continent.

Africa is rising and the world is becoming a global village. This is resulting in a dramatic increase in the demand for skilled and dedicated financial professionals, with South Africa assuming a critical role in the development of those skills.

We in South Africa, as the last country on the continent to achieve democracy, are grappling with our transformational issues. This is an onerous task, not only from a legislative perspective but because we have a historical responsibility to change the status quo. As Steve Biko once said, “Blacks are tired of standing at the touchlines to witness a game in which they should be playing. They also want to do things for themselves and all by themselves.”

We are succeeding on many levels but there is still much to do. One of the many challenges we face is the ennoblement of Black women as financial professionals. As a nation we still have a long way to go in this regard. I am confident however, that with education, training and skills development, we will get there. Equally importantly, we need to ensure that there are commensurate jobs available in the marketplace for women. It is therefore incumbent upon all of us – as members of ABSIP – to ensure that we lead by example.

Congratulations to all of you once again, and to ABSIP for ensuring that we keep the flame alive!

ABSIP GAMECHANGERS – 2013 7 VISIONARY LEADERS – ABSIP EXCO

Andile is currently Head of Advisory at Regiments Capital. He established Mfanta Investment Holdings in 2007, after establishing Regiments Holdings and Regiments Capital in 2003.

Prior to this he founded Wip Treasury Solutions, which he ran as the Chief Executive Officer, and was appointed Head of Corporate Finance at WIP Capital.

Andile started his career in 1994 at Standard Merchant Bank (Treasury Andile Nyhonyha Division). In 1995 at the time when SCMB ABSIP Exco/ was merging with some divisions of Standard Bank to form Standard Corporate Regiments Capital and Merchant Bank, Andile joined the Head: Advisory Corporate Finance department.

Ephraim is Head of ABSIP Student Affairs and is also a member of the ABSIP Bursary Fund Committee.

He is currently serving his chartered accountancy articles at LSG Integrated Registered Auditors and also reading towards his Certificate in the Theory of Accounting (CTA).

He obtained the Bachelor of Commerce in Accounting degree from the University of Johannesburg. Ephraim Moletsane ABSIP Exco/ LSG Integrated Registered Auditors Auditor

8 ABSIP GAMECHANGERS – 2013 Lerato Molefe is currently a mergers and acquisitions manager at AECI Limited, responsible for leading and directing all aspects of the acquisitions and disposals that the Group undertakes.

She is a seasoned investment professional with over 12 years’ experience as an equity analyst and a fund manager in the asset management industry. As an investment professional at RMB Asset Management, her responsibilities included analysing and making investment decisions on the listed Lerato Molefe companies of the JSE. ABSIP Exco/ She is a member of the Executive AECI Limited Committee at ABSIP and as treasurer, her Mergers and Acquisitions overall responsibilities include the financial Manager management of the organisation.

Mathane is Transnet’s Group Treasurer. She joined Transnet in 2007 as Head: Structured Finance has been responsible for the origination and structuring of debt capital market transactions (loans and bonds).

Mathane is also a member of the Board of Association of Blacks Securities and Investment Professionals.

Previously she worked as a Consultant responsible for Treasury and Economic Mathane Makgatho advisory as well as the National Treasury ABSIP Exco/ and the National Institute of Economic Policy. Transnet Group Treasurer

ABSIP GAMECHANGERS – 2013 9 VISIONARY LEADERS – ABSIP EXCO

Polo has 12 years of experience in the financial sector having previously been Chief Director: BEE for the DTI; Fund Manager for Standard Property Income Fund; Research Analyst for Aloecap (Pty) Ltd; and Trainee Accountant at Gobodo Inc.

She is a Non-Executive Director of Icembe Medical (Pty) Ltd; Advisory Board Member of the Wits Business School Centre of Entrepreneurship; Board member of the Southern African Venture Capital Polo Radebe Association; and Trustee for the SAB ABSIP Exco/ Entrepreneurship Foundation. IDF Chief Executive Officer

Sibongiseni joined the Business Support unit of IDC in 2007, where he is responsible for providing management consulting and advisory services to entrepreneurs.

He serves on the IDC Employment Equity Forum, which advocates transformation and equity in line with the Employment Equity Act. He serves as Chairperson of the Advisory Board of Isivande Women’s Fund.

He also serves in the National Executive Committee of ABSIP where he is responsible Sibongiseni Mbatha for events, marketing and communication ABSIP Exco/ with stakeholders, as well as on the National Industrial Development Council of the Black Business Council. His past career entails holding professional and Corporation managerial positions at Standard Bank and Senior Business Support Manager Absa as well as management consulting.

10 ABSIP GAMECHANGERS – 2013 In 2013, Stephen joined Absa CIBW as the Head of Group Public Sector Coverage. He is the Secretary of ABSIP and represents it at the Financial Service Charter Council.

Stephen worked briefly at the engineering department of Nissan and AngloGold Ashanti for four years. He then joined Standard Bank and worked for a number of different Sales and Structuring Teams ranging from Foreign Exchange, Commodities and Interest Rates.

Stephen Seaka In 2010 Stephen was promoted to head ABSIP Exco/ up the Energy, Power & Infrastructure and Emerging Business and Strategic Investment Absa Capital Sectors. Head: Absa Group Public Sector Coverage

Before joining PPC, Tryphosa was Chief Executive Officer of Wipinternational (subsidiary of WIPHOLD with focus on African expansion), as well as Chief Financial Officer of WIPHOLD; and Chief Financial Officer of SAA.

Prior to SAA, she was with National Treasury as Chief Director. She was involved in, amongst other things, the listing of Telkom on Johannesburg Stock Exchange and New York Stock Exchange, and oversight of corporate governance on SOEs. Tryphosa Ramano ABSIP Exco/ She has diverse professional development, PPC including Financial and Strategic planning, Chief Financial Officer Corporate Governance reform, Industry Analysis and Corporate restructuring.

ABSIP GAMECHANGERS – 2013 11 VISIONARY LEADERS – ABSIP EXCO

Asief is a Director and the Chief Investment Officer of Aeon Investment Management, a boutique investment management firm based in Cape Town, having founded the company in 2005.

He was a director of Metropolitan Asset Managers; as well as Chief Investment Officer of Metropolitan Asset Managers from 2001 to 2005.

He won a number of Raging Bull and S&P unit trust awards. The Association of Black Asief Mohamed Securities and Investment Professionals ABSIP Exco/ awarded Asief the Top Portfolio Manager Aeon Investment Management of the year in 2004. Director Chief Investment Officer

Delphine is the Founder and Chief Investment Officer at Perpetua Investment Managers, a 100% black-owned investment management firm formed in 2012. Delphine has over 18 years working experience in the South African financial services sector.

She joined Allan Gray in 2001, and was appointed as a Portfolio Manager, and Executive Director in 2005 and 2006 respectively.

Delphine is active in various investment Delphine Govender industry bodies including regulatory; ABSIP Exco/ developmental; mentorship; diversity Perpetua Investment Managers advancement; and thought leadership. Chief Investment Officer

12 ABSIP GAMECHANGERS – 2013 Mark has over 12 years investment experience and his career includes development finance, structured finance, external auditing and property management experience.

At Mergence, Mark is currently Head of impact investments and heads up the first South African Impact Investment Pioneer Fund using the USAID funded Global Impact Investing Rating System.

Prior to joining Mergence in 2011, Mark was Mark van Wyk responsible for establishing new wholesale ABSIP Exco/ debt funding relationships, performing due Mergence Investment Managers diligences, drafting business plans, financial Portfolio Manager modelling, liaison with funding partners and oversight of proprietary private equity investments at Mettle.

Nicolette is an audit Partner in the Financial Services division of PwC. She has 12 years experience in the Financial Services industry with specialisation in Asset Management and Medical Schemes. She leads the Asset Management and Healthcare focus groups for the Western Cape.

Nicolette is also currently the SAICA Southern Region Vice President, Chairperson of the SAICA Southern Region Transformation Committee, SAICA Southern Region Executive Committee Member and Nicolette Jacobs SAICA National Board Member. ABSIP Exco/ She serves on the Western Cape Steering PricewaterhouseCoopers Committee of ABSIP and holds various Audit Partner memberships.

ABSIP GAMECHANGERS – 2013 13 ABSIP ADVISORY AND PAST PRESIDENTS

Baba Mashologu is Director of Public Sector Finance and Black Economic Empowerment at Deutsche Bank.

He joined Deutsche Bank in 2010 and has more than nine years investment banking experience in South Africa and the rest of Africa. He has been involved in a number of acquisitions and capital raisings across various sectors, most notably the acquisition by the Elephant Consortium of a BEE stake in Telkom SA Limited.

Baba Mashologu He is a Fellow of the seventh class of the ABSIP Past President/ Africa Leadership Initiative-South Africa Deutsche Bank and a member of the Aspen Global Director: Public Sector Finance Leadership Network.

Kennedy Bungane is the Chief Executive of Barclays Africa and the Head of Strategy at Absa Group Limited since 2012.

He serves as the Head of Africa Group Strategy and Chief Executive of Barclays Africa at Barclays Bank of Kenya Limited.

He served as the Chief Executive of Corporate & Investment Banking at Standard Bank of South Africa Limited. He has extensive experience in financial services. He has also served as Chief Kennedy Bungane Executive Officer of corporate and ABSIP Past President/ investment banking for South Africa of Barclays Africa Standard Bank Group Ltd. Chief Executive

14 ABSIP GAMECHANGERS – 2013 Modise is the Chief Executive of Quartile Capital (Proprietary) Limited. Modise is also a director of Rand Merchant Bank Structured Insurance, Deutsche Bank Securities SA (Proprietary) Limited, Land Bank, and the Small Enterprise Foundation.

Modise is a former President of the Association of Black Securities and Investment Professionals (ABSIP) where he was instrumental in formulating and negotiating the historic Financial Services Charter in 2003. Modise Motloba ABSIP Past President/ Quartile Capital Chief Executive

Mutle is currently the Executive Chairman of Vantage Capital.

He started his career as a financial accountant at LTA Construction, and thereafter, moved to Nedbank where he was a relationship manager in the corporate banking division.

From there he moved onto Absa and was responsible for the implementation of Absa’s micro lending strategy with the creation of Nubank. He started Nubank and Mutle Mogase was CEO for three years. ABSIP Founding President/ In addition, he was appointed to the group Vantage Capital strategy and operational risk committees at Executive Chairman Absa.

ABSIP GAMECHANGERS – 2013 15 ABSIP ADVISORY AND PAST PRESIDENTS

Mxolisi has had a distinguished career in finance in South Africa and ample international dealmaking experience.

Previously with UBS Corporate Finance and HSBC in South Africa, Mxolisi subsequently founded the Industrial Development Group, with Rand Merchant Bank and various BEE groups as shareholders.

IDG is active in various projects across sub- Saharan Africa in natural resources and agricultural sectors. Mxolisi Mbetse ABSIP Past President

Nomkhita, B.Sc, Postgraduate Diploma (Investment Management) serves as Managing Director and Market Manager of Africa at Barclays Plc.

Nomkhita has also served as Chief: Executive Wealth and Investments, Africa at Absa Group Limited. She joined Absa in 2010 and joined the Absa Exco in 2011.

She served better part of her career at Alexander Forbes, which she joined in 1997, performing different functions, Nomkhita Nqweni including serving as the Managing Director ABSIP Past President/ of Alexander Forbes Financial Services Holdings Limited. She serves as a Board Absa Group Limited Member of the SA Mint and SA Bank Notes Chief Executive: Wealth and companies. Investments

16 ABSIP GAMECHANGERS – 2013 Nthime is co-founder and Principal of Bopa Moruo Private Equity – a mid-market private equity firm focused on generating long- term capital appreciation by investing in profitable and growing businesses.

He previously served as a Director of Brait Private Equity. Prior to that Nthime was the Group Treasurer and Head of Corporate Finance, Structured Finance and Investor Relations at South African Airways. He was also an Executive Director at Legend Capital. Nthime Khoele ABSIP Advisory Council/ Nthime sat on the advisory board of the Bopa Moruo JSE Securities Exchange’s Alt-X and is a Principal former Secretary General and Treasurer of the Association of Black Investment Professionals.

Sello is Chairman of Thesele Group, a business he co-founded in 2004.

He is also currently serving as a Chairman of Alexander Forbes Equity Holdings Board and is a Director on the Board of KBR SA and also a Non-Executive Director of Acucap Properties Limited, The Industrial Development Corporation, Gen Re SA.

In addition, he is a member of the Nelson Mandela Endowment and Investment Committee and previously served as a Sello Moloko President of Association of Black Securities ABSIP Past President/ and Investment Professionals (ABSIP). Thesele Group Director

ABSIP GAMECHANGERS – 2013 17 ABSIP ADVISORY AND PAST PRESIDENTS

Swazi was appointed to the board of STANLIB in 2008. In addition to her role with STANLIB, Swazi is also an independent director of Liberty Holdings Limited and Liberty Group Limited.

She serves on the Risk and Directors’ Affairs Committees of Liberty Holdings Limited.

Swazi Tshabalala ABSIP Advisory Council/ STANLIB Non-Executive Director

Thabo is an Executive Director and Founder Member at Thesele Group, Investment Arm.

He gained senior managerial experience in the beverages, foods, and liquid fuels industries in South Africa, following articles of clerkship at Deloitte Johannesburg.

He joined Cazenove South Africa as a Research Analyst in 1998. In 2004, he gained Cazenove Group Plc directorship, effectively becoming a Partner in the global business. Thabo Leeu ABSIP Advisory Council/ He served in financial management positions of Worldwide Africa Investment Thesele Group Holdings, Oceana Fishing, National Executive Director Sorghum Breweries, and Old Mutual Employee Benefits.

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Adam is Chief Executive Officer and founder of Lion of Africa Insurance. He is non-executive chairperson of SASRIA (SOE) Limited, and holds non-executive directorships with the South African Actuarial Development Programme Limited, South African Insurance Association Limited and SA Nuclear Pool Administrators (Pty) Limited.

Adam was the first black president of the Insurance Institute of South Africa and represented the short-term insurance industry in the development of the Financial Adam Samie Sector Charter. Lion of Africa Insurance Company Limited He served as chairman of the South African Insurance Association and is an inaugural Chief Executive Officer member of the Financial Sector Charter Council.

Ahmed was appointed to Sanlam Group in 2006 as Head of Finance at Glacier, before taking on his current role in 2011.

After completing his articles at Fisher Hoffman PKF, Ahmed joined Sail Group Ltd as Finance Manager. He joined Shell in 2003. There he fulfilled various roles which saw him leading a diverse team across different countries.

He was appointed as a board member and shareholder representative in Shell’s Ahmed Banderker subsidiary companies in South Africa. Sanlam Group Ahmed is director for a number of the Chief Executive: Strategic boards within the group. Business Development

20 ABSIP GAMECHANGERS – 2013 Albertinah is the Chief Executive Officer of Royal Bafokeng Holdings, which manages the investment portfolio of Royal Bafokeng Nation.

As CEO, Albertinah sets the strategic direction for the business and ensures that key objectives are met with sustainability.

Albertinah Kekana Royal Bafokeng Holdings Chief Executive Officer

Alton joined SPE in 2005 and in 2012 was appointed Chief Executive Officer of SPE. He is responsible for the investment strategy of the business and custodian of the investment portfolio.

Alton completed his articles with PricewaterhouseCoopers in 2001. He then joined Shoprite Checkers where he was responsible for a number of African countries.

In 2002 he joined Industrial Development Alton Solomons Corporation in the Techno Industries Sanlam Private Equity Business Unit. Chief Executive Officer Alton serves on the board of the Southern African Venture Capital Association, and of various other companies.

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Anton is Chief Executive Officer of Coronation Fund Managers and a member of the executive committee.

He joined Coronation in 2006 as chief operating officer, was appointed a member of the board in 2009, and appointed Chief Executive Officer in 2013.

Prior to joining Coronation, he held a number of key positions and directorships during his nine-year tenure at BoE/ Nedbank, including assistant general Anton Pillay manager of the private bank, general Coronation Fund Managers manager of investments and head of Chief Executive Officer banking.

Ben was appointed to lead and direct STANLIB’s overall asset management operations in 2012.

Before re-joining STANLIB, he spent a decade as a senior executive with Old Mutual. He also served as Chief Investment Officer of the Growth team at African Harvest Fund Managers, having previously been founder member and Head of Investments at Prodigy Asset Management.

Ben is Chairman of WESGRO, Director of Ben Kodisang Sphere holdings and Past President of the STANLIB South African Property Owners. Managing Director: Asset Management

22 ABSIP GAMECHANGERS – 2013 Bernard is Chief Information Officer at Sanlam Personal Finance (Pty) Ltd. Prior to this he was Group Chief Information Officer at Eskom Holdings.

He has gained over 20 years working experience within companies such as IBM, Liberty Life, Nedcor, South African Revenue Services and Standard Bank. This is also supplemented by some experience in the Energy and Public Sector environments.

Bernard Manyatshe Sanlam Life Insurance Chief Information Officer: Personal Finance

Butana is the Managing Director of Vunani Limited. In addition to managing group operations and stakeholder relations, he chairs the boards of the group subsidiaries and sits on boards of group investment companies.

He joined the Southern Life group in 1995; initially in internal audit and subsequently as a manager in the investment division. Various managerial roles culminated in him becoming the financial director of Futuregrowth. Butana Khoza Vunani Limited Butana left Southern Life in 1998 to become one of the founding executives in the Managing Director investment banking division of the African Harvest group.

ABSIP GAMECHANGERS – 2013 23 C SUITE

Cas is currently the Managing Director at the Banking Association South Africa.

He is past chairman of the Johannesburg Civic Theatre and Vice-Chairperson of the Trust for Urban Housing Finance.

In addition, he is Chairperson of the National Business Initiative; first Deputy Chairman of the African Union for Housing Finance; serves on the Board of the Centre for Development and Enterprise; President of the International Union for Housing Cas Coovadia Finance; serves as a Council member of Banking Association of the University of Witwatersrand; is on the board of the Nepad Business Foundation South Africa and the Management Committee of Managing Director Business Unity South Africa.

Cora has been Managing Director of Sanlam Investment Management since 2012. Before joining SIM, she was the Chief Executive Officer of Sanlam Private Equity. Cora entered the industry in 2001 with Ethos Private Equity, after completing her articles with KPMG.

Cora served on the board of the South African Venture Capital and Private Equity Association for two years and was elected chairperson. She is a member of the SA Institute of Chartered Accountants (SAICA). Cora Fernandez Sanlam Investment Management In 2006, she was awarded the top private Managing Director equity dealmaker award by ABSIP.

24 ABSIP GAMECHANGERS – 2013 Dr Daniel Matjila is a well-respected, experienced finance & investments specialist, Investment risk management specialist, investment strategist and an academic. He has over 20 years in Senior Management role - both in the private sector and academic sector.

He also has over 15 years in investment management industry. He is currently the Chief Investment Officer and Executive Director for the Public Investment Corporation. Dr Daniel Matjila Public Investment Corporation Prior to joining the Public Investment Corporation, he was the Senior Manager Chief Investment Officer Quantitative Research Analysis for Stanlib. Executive Director

Elias has lectured, written and been published widely. In 2010, he was appointed by the President of South Africa to the position of Chief Executive Officer of the Public Investment Corporation.

Prior to that he was Head of Policy Analysis at Sanlam. He joined Sanlam in 2005, following his role in the National Treasury as Acting DDG Economic Policy and leader of the social security and retirement reform programme.

Elias Masilela Public Investment Corporation Chief Executive Officer

ABSIP GAMECHANGERS – 2013 25 C SUITE

Funeka is Chief Executive of Personal and Business Banking. She was previously head of Credit, South Africa, for the Personal and Business Banking Division; Head of Home Loans; and before that Chief Financial Officer of the Personal and Business Bank (Retail Bank).

Funeka was a partner at PricewaterhouseCoopers’ local and global IFRS consulting group for two years. She has also been the Chairperson of the Initial Professional Development Committee of Funeka Montjane SAICA since 2008. Standard Bank Funeka was recently voted “Top Woman Chief Executive: Personal and Executive” and “Top Woman of the Year in Business Banking South Africa Business” at the 2012 Top Women Awards.

Gcina is the founding Chief Executive and shareholder of Imbewu. He has more than 14 years’ experience in the private equity industry, of which six years were spent with Nedbank Capital Private Equity as a Private Equity Specialist.

Gcina serves as a non-executive director on the following boards: Reebok South Africa, Isegen South Africa, Container Conversions, Autovest Limited, Icon Construction, Rainbow Chicken Limited, Bo’s Hire & Sales, and International Gcina Zondi Facilities Services. Imbewu Capital Partners Chief Executive He is a member of the Institute of Directors in Southern Africa, the Investment Analyst Society and the Association of Black Securities and Investment Professionals.

26 ABSIP GAMECHANGERS – 2013 Geoffrey is the Chief Executive Officer of the Industrial Development Corporation of SA Limited (IDC), the leading development finance institution in South Africa.

A Chartered Accountant qualified in 1993, Mr Qhena completed a Bachelor of Accounting Science (B Compt) and B Compt Honours from the University of South Africa.

He also holds a Certificate in Advanced Tax from the University of South Africa Geoffrey Mvuleni Qhena and has completed the Senior Executive IDC Programme jointly offered by Harvard University and the University of the Chief Executive Officer Witwatersrand’s Business School.

Gloria is Managing Director on the Global Environment Fund’s Africa Growth team. She is responsible for deal sourcing, execution and monitoring of investments in clean energy and environmental services across the continent.

Prior to joining Global, Gloria was with the Development Bank of Southern Africa. She also served as a member of the Bank’s Executive Committee, and headed private equity.

Gloria Mamba Gloria is a member of Emerging Markets Global Environment Fund Private Equity Association’s Africa Council and the Board of Directors of South Managing Director: Africa Venture Capital and Private Equity Africa Growth Team Association.

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In 2013 Goolam was appointed Chief Executive Officer of the Government Pensions Administration Agency, after fulfilling his role as Deputy Director-General in the Office of the Director-General in the National Treasury (Ministry of Finance). He also represents Treasury on NEDLAC.

Previous positions held by Goolam include Director of Cabinet Research; Chief Director of Economic Development; Deputy Director-General (and Deputy Head) of Policy IMF Senior Advisor to the Goolam Mohammed Executive Director representing Africa Aboobaker Constituency 1 (Anglo-phone African National Treasury countries). Chief Executive Officer: Government Pensions Administration Agency

In 2006 Innocentia joined Nedbank as Finance Executive within the Corporate Cluster, and in 2007 was promoted to an executive position as a head of finance for Nedbank Corporate Banking.

She served as a member of the Audit Committee of the NEF from 2010-2012 when she joined the NEF as Chief Financial Officer.

Innocentia completed her articles with Ernst & Young and joined their Corporate Innocentia Pelo Finance and Advisory Services division. NEF She then moved to Ernst & Young London where she was with the Risk Management Chief Financial Officer Advisory department for over two years.

28 ABSIP GAMECHANGERS – 2013 Keshan was appointed as the Chief Executive Officer of Makalani Holdings Ltd in 2008. Prior to joining Makalani, Keshan was the Executive Director – Finance and Strategy of the Mineworkers Investment Company.

Significant transactions led by Keshan included BP Southern Africa, FirstRand Limited, Tracker Holdings and Metrofile Limited, as well as the public to private transactions of Peermont Global Limited and Primedia Limited. Keshan Pillay Makalani Holdings In addition to his role at Makalani, Keshan is Chief Executive Officer currently a non-executive director of various boards.

Lawrence is a Non-Executive Director, and former Chief Executive Officer, of Legae Securities.

He is currently Chief Technical Officer of Elezean Institute (Investment Banking and Capital Markets Education Institution) and Managing Director of Mezocel Pty Ltd (Poultry Production and Agriprocessing).

He was also Head of Global Credit Derivatives Trading with Nedbank Limited.

Lawrence Madzwara Mezocel Pty Ltd Managing Director

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Masimo-a-badimo is co-founder and MD of Mergence Africa Holdings (Pty) Ltd and also MD of Mergence Investment Managers (Pty) Ltd.

He started his career as a financial data analyst on Wall Street for Thompson Financial Group New York and thereafter joined Merrill Lynch in London on the convertible bonds desk. Masimo returned to South Africa in 2000 to run an equity derivatives book at Gensec Bank.

Masimo-a-badimo Masimo attended Kean University in New Magerman Jersey USA and following his graduation, Mergence Africa Holdings & enrolled for an MBA (Finance) at Rutgers University. Mergence Investment Managers Managing Director

Merafe is Managing Director of Motseng Concessions (a wholly-owned subsidiary of Motseng Investment Holdings).

She is also the Chief Executive Officer of Imbumba Aganang Private Party, a special purpose PPP vehicle which maintains the head quarters for the Department of International Relations and Cooperation.

Merafe spent a number of years on Wall Street, where she worked for leading financial institutions: Goldman, Sachs & Merafe Moloto Co; SNL Financial; and Merrill Lynch & Co. Motseng Concessions She returned to South Africa to take up a Managing Director position at Standard Bank Private Equity.

30 ABSIP GAMECHANGERS – 2013 Mothobi has over 18 years of financial services industry experience (retirement funds consultant, economist, investment analyst, own trustee training business and part-time university lecturer).

His most recent experience is from RSA subsidiary of NYSE listed global asset manager, Alliance Capital Management LP (now Alliance Bernstein LP) and Investec Asset Management.

Mothobi is the past President of ABSIP Mothobi Seseli Western Cape, a member of the National Argon Asset Management Exco and a regular presenter at industry conferences. Managing Director

Nersan was appointed founding member of SMMI in 2002. His track record of 12 years spans investment management and business leadership, both locally and internationally. Operating from their London office, he managed SMMI’s international business for two years before returning to South Africa in 2009, as Chief Executive Officer of SMMI.

In addition to his responsibilities, Nersan is also Head of the Investment Services sub- cluster, which includes Sanlam Collective Nersan Naidoo Investments, BlueInk Investments, Graviton Sanlam Multi Manager Financial Partners and Graviton Wealth International Management. He is a member of the Sanlam Investments EXCO. Chief Executive Officer

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Nicholas is the Managing Director of BMF, is a Non-Executive director for BMF Investments, serves as a committee member, and was director and the vice- president of Junior Chamber International.

In addition, he is chairman of Mawenguni Holdings, which owns the Virgin Mobile retail outlets in the Eastern Cape, and serves on the Vega School of Brand Leadership’s National Advisory Council.

Nicholas spreviously worked for Crossroads Nicholas Darius Maweni Distribution; IBM; Virgin Mobile; and various BMF companies in the ICT sector – such as Managing Director Vodacom, Marconi, and TIBCO.

Niven started at WIP Capital in December 1999 following his return from London to become the Executive Director and Head of the Structured Markets Division.

By 2004 Niven was ready to branch out into his own enterprise, and he established Maya Capital, focusing on business start-up funding via Strategic Market Derivatives.

The business later became a substantial part of the framework of the Regiments Capital business structure. Niven Pillay Regiments Capital Executive Director

32 ABSIP GAMECHANGERS – 2013 Patrick has 16 years of experience in finance management, having recently become the Chief Executive Officer of the Development Bank of Southern Africa.

He is an expert in strategic formulation, as well as the implementation and transformation of business and economic policies in organizations.

In the course of his duties, he is responsible for overseeing the strategic vision and management of the bank, and working Patrick Dlamini closely with government agencies and Development Bank heads of state. of South Africa Chief Executive Officer

From 1992 – 1995, Phakamani was a lecturer of Economics at the University of Durban – Westville.

He joined the National Treasury (then Department of Finance) in 1996 as Deputy Director in the SADC Finance and Investment Sector Co-ordinating Unit and later became the Director: Domestic Debt Management in 1999. He was given the responsibility of enhancing the liquidity of the RSA Government Domestic Bond Market. Phakamani Hadebe In 2001, he became the Chief Director: Land Bank Liability Management – a position where Chief Executive Officer he specialised in the management of both the domestic and foreign debt borrowing strategies.

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Philisiwe was appointed Chief Executive Officer of the NEF in 2005. Prior to joining the NEF, she worked for a French investment bank in London; held responsibility for Risk Management Control at the South African Reserve Bank; and worked in the Treasury division at Standard Corporate and Merchant Bank. She was also Regional Director for the DTI in Germany and France to promote European investment in South Africa.

In 2002 she returned to South Africa to Philisiwe Mthethwa become the Chief Director of the Black NEF Economic Empowerment Unit of the DTI. Chief Executive Officer

Roland was a founder of Kagiso Asset Management in 2001. After completing his articles at Ernst & Young in 1995, he joined Sanlam Investment Management as an investment analyst and covered the South African industrial equity market.

In 1998, Roland, together with other key members of the Sanlam investment team, formed Gryphon Asset Management.

Roland Greaver Kagiso Asset Management Chief Executive Officer

34 ABSIP GAMECHANGERS – 2013 Romeo joined Vunani Fund Managers in 2011 from the newly merged MMI asset management business, where he was Head of Portfolio Management and Director.

He was previously Chief Investment Officer at Metropolitan Asset Managers responsible for asset allocation, portfolio construction and directing the firm’s investment strategy.

Prior to this role, Romeo was a senior portfolio manager at Stanlib within the multi-asset and core equity franchises. Romeo Makhubela Vunani Fund Managers Chief Executive Officer

Saki became a Member of Parliament in 1994 and left the Legislature to take up a position as Managing Director of Transnet Limited, a job he held for five years.

He is Chairman of Liberty Holdings, Deputy Chairman of the Standard Bank Group, Non-Executive Chairman of Safika Holdings and Chairman of the Council of Wits University.

Saki is also President of Business Leadership Saki Macozoma South Africa, Chairman of the Presidents Big STANLIB Business Working Group. Chairman: Board of Directors

ABSIP GAMECHANGERS – 2013 35 C SUITE

Seelan joined Liberty Holdings in 2010 as Chief Executive of Liberty Corporate. Prior to this, he held the position of Managing Director for Old Mutual Corporate. Over the past 10 years, Seelan has fulfilled numerous roles including Financial Director, Head of Administration, and Head of Corporate Distribution.

At Liberty Corporate Seelan is driving the expansion of the business into new markets and enabling the business to grow both locally and in the rest of Africa. Seelan Gobalsamy His objective is to ensure that more South Liberty Corporate Africans save and retire with sufficient provisions. Chief Executive

Sim, recently appointed as joint Chief Executive Officer of Standard Bank, joined the Standard Bank stable in 2000 in the project finance division of SCMB, and was appointed to the executive committee in 2001.

From 2001 to 2006 he was managing director of Stanbic Africa, and from 2003 he served concurrently as deputy chief executive of PBB, being appointed as chief executive of the same in 2006. In June 2008, he became chief executive of SBSA, and in Sim Tshabalala 2009, Deputy Chief Executive of SBG. Standard Bank Group Chief Executive Officer

36 ABSIP GAMECHANGERS – 2013 Sizwe is the Chief Executive Officer of FirstRand Limited.

Sizwe served as Chief Executive Officer of Telkom SA Limited from 1998 to 2005.

He served as National President of Absa Group Limited from 1991 to 1994.

He holds a Bachelor of Accounting Science and is a Chartered Accountant.

Sizwe Nxasana FirstRand Group Chief Executive Officer

Temba is Chief Executive, Group Market Development, of Sanlam Ltd; and Executive Head, Market Development at Santam. He was appointed as Executive Director to the Sanlam Board in 2009.

He also filled the position of Chief Executive, Group Services, during 2004 and 2005, after serving as Executive Head, Business Development.

Previously he was General Manager at Gensec Property Services, Marketing Temba Mvusi Manager of Franklin Asset Management, Sanlam Limited Head of Corporate Affairs at Southern Life Chief Executive: Group Market and Principal Consultant at Unisys. He was appointed as Chairman of IEMAS in 2012. Development

ABSIP GAMECHANGERS – 2013 37 C SUITE

Terence is the founder and Managing Director of Envisionit Capital Solutions, Envisionit Investments and Envisionit Stock Lending Solutions. In addition, he is the founder and Trustee of the Envisionit Dare to Dream Bursary Foundation.

He has been in the financial services industry, specifically hedge funds, for 11 years and was previously Co-Head: Sanlam Prime Services. Terence is an executive member of the South African Scrip Lending Association. Terence Naidu Envisionit Managing Director

Acknowledged as one of the industry’s top executives, Thabo was appointed in 2010 to head up Liberty’s asset management and institutional businesses, including STANLIB, Liberty Properties and Liberty Corporate – the group’s employee benefits unit.

A business executive with a passion for people development and business transformation, Thabo has re-energised and re-structured STANLIB as a new-age asset manager, operating under a multi- Thabo Dloti franchise business model unique in the STANLIB South African investment management Chief Executive Officer industry. He was previously Chief Executive Officer of the Old Mutual Investment Group SA (OMIGSA).

38 ABSIP GAMECHANGERS – 2013 Thabo is Managing Director Africa at Investec Asset Management. He has been with the firm since 1998.

Prior to this role, he was Managing Director South Africa. Previously, Thabo worked as a management consultant with Monitor Company, based initially in the United States and later in South Africa.

His focus was competitive strategy for global businesses; he had clients in telecommunications, healthcare and Thabo Khojane mining. Thabo graduated from Brown Investec Asset Management University in the US, with a BSc in Engineering and a BA in Economics. Managing Director, Africa

Thabo joined Trudon (Pty) Ltd as Managing Director in 2002. Before that, he spent nine years in investment banking, with UBS and HSBC.

He started his working career as a trainee in management accounting and held positions as Regional Accountant, Financial Manager and General Manager Operations before moving into the financial services arena.

He has been a board member of various Thabo Seopa organisations – from listed companies Trudon (Pty) Ltd to state-owned enterprises to non-profit bodies. Managing Director Non-Executive Director

ABSIP GAMECHANGERS – 2013 39 C SUITE

Thakhani is the Chief Executive Officer of Small Enterprise Finance Agency (sefa), a wholly owned subsidiary of the IDC, following the merger of Khula Enterprise Finance, the South African Micro Finance Apex Fund (samaf); and the IDC’s small business activities.

He oversees the development of sefa strategy in conjunction with the Board.

The overarching mandate of sefa is to promote the establishment, survival and Thakhani Makhuvha growth of SMMEs and contribute towards Small Enterprise Finance Agency poverty alleviation and job creation. Chief Executive Officer

Tshego is the Chief Executive Officer of Zico Group. He completed articles with Ernst & Young in Johannesburg and served in their London office. Prior to joining Zico, he was with Ethos Private Equity and Standard Bank.

He is an Executive Director of Zico and Zico Capital, Zico’s private equity business. In addition, Tshego is a non-executive director of number of companies, and participates in various boards and board sub-committees of portfolio companies. Tshego Sefolo Zico Group He was recently awarded the Private Equity Chief Executive Officer Deal Maker of the Year Award by ABSIP.

40 ABSIP GAMECHANGERS – 2013 Prior to his involvement as one of the originators of PAIDF, Tshepo headed the Corporate Finance and Isibaya Fund Division of the PIC and was the recipient of two recognition awards from the Association of Black Securities and Investment Professionals for his work.

He previously headed the Private Sector Investment arm of DBSA; and worked for Rand Merchant Bank and the Commonwealth Development Corporation.

Tshepo Mahloele Harith Chief Executive Officer

William joined Novare in 2007 as an executive director. In 2012 he was appointed Chief Executive Officer of Novare Actuaries and Consultants. He has 20 years’ experience in the investment industry.

William started his career at FNB and then moved to Standard Corporate & Merchant Bank where he worked as a portfolio manager. He joined Transnet Pension Fund in 2000 as a senior manager responsible for equities, bonds and alternative investments. William Moutloatse Novare Actuaries He currently holds directorships in Novare Chief Executive Officer Holdings Limited, Mahofi Investment Holdings and a non-executive directorship in Element One.

ABSIP GAMECHANGERS – 2013 41 ASSET MANAGEMENT

Ameesha is a money market Portfolio Manager in the fixed interest team. She is responsible for managing various specialist money market funds including the Old Mutual Money Market unit trust fund. Ameesha also has fixed interest trading responsibilities within the fixed interest team.

She moved from Old Mutual Investment Group to the Futuregrowth fixed interest team in 2008.

Ameesha Chagan Futuregrowth Portfolio Manager

Azola is a director in the business and heads up Business Development.

Previously, Azola was an investment consultant at Alexander Forbes and then went on to join a boutique financial services company as head of retirement fund support services, prior to going overseas to do her MBA and MA (International Business) studies in the Netherlands and the UK respectively.

She garnered experience in the traditional Azola Zuma asset classes in her role as investment Vunani Fund Managers consultant and has private equity Executive Director & Head: experience from her role as a fund manager at Vunani Private Equity Partners. Business Development

42 ABSIP GAMECHANGERS – 2013 Possessing masters’ degrees in both law and business, Bongani was appointed in 2011 to head up STANLIB’s key Retail Division, which encompasses the Unit Trust and LISP businesses.

He carries final responsibility for development and implementation of STANLIB Retail’s business strategy and operational excellence.

Earlier career experience was built up in blue-chip multi-nationals including Unilever Bongani Mageba and SAB-Miller, and prior to joining the STANLIB STANLIB team, Bongani was the Deputy Head: Retail Business Managing Executive of a retail business.

Daphne is the Portfolio Manager for the Yield Enhanced STeFI+ product suite as well as segregated core bond portfolios. In addition she is responsible for overall risk monitoring and oversees specialist asset administration.

Daphne joined Futuregrowth in 2001 from NIB Asset Management.

Daphne Botha Futuregrowth Portfolio Manager

ABSIP GAMECHANGERS – 2013 43 ASSET MANAGEMENT

Denise joined Sanlam Investments eight years ago. She is currently CIO for Employee Benefits. Prior to that, she was IT Executive (SEB, Group Office, SPF Strategic Business Development). From 2001 until 2005, Denise worked as a Compass Development Manager (EB IT Production Support) at Old Mutual.

Denise began her career in 1980 at Old Mutual, as a Leading Analyst Programmer Analysis/ Design/ Construction Project Manager. Denise Sasman Sanlam Investments She then joined USKOTEC (Bytes Chief Information Officer: Technology Group); and then worked at Employee Benefits Old Mutual as a Program/ Project Manager and a Systems Analyst.

Fernando is a Portfolio Manager, senior quantitative analyst and fundamental analyst. He is responsible for the management of the Absolute Return funds and co-manages the target return funds.

In particular, he is responsible for strategic and tactical asset allocation research, as well as sector selection research. His focus includes both domestic and foreign asset classes (equity and fixed interest), as well as derivative strategy modelling on these.

Fernando Durrell Vunani Fund Managers Portfolio Manager: Absolute Return

44 ABSIP GAMECHANGERS – 2013 Funeka has 6 years investment industry experience. She first gained her experience at Vunani Securities where she held the position of Assistant Research Analyst, then Afena Capital where she was an investment analyst covering industrial stocks. Her most recent experience prior to joining Argon was at OMIGSA where she held the role of equity analyst with a core focus on researching stocks listed in the health care sector.

Funeka Beja Argon Asset Management Equities Analyst

Ganief has over 40 years’ investment administration experience. He spent 28 years with Syfrets (part of the Nedbank Group) where he managed the Syfrets unit trust administration platform until 1999.

In addition he was head of operations for the back office of the Syfrets investment management division.

Ganief served as a Director of the Community Growth unit trust management company from 1992 to 2000. He joined Ganief Davids FinSource (now Maitland) in 2000. Ganief Maitland Group South Africa is currently a director of Maitland Group South Africa Limited. Director

ABSIP GAMECHANGERS – 2013 45 ASSET MANAGEMENT

Ivan has significant industry experience in strategy and HR and has wide stakeholder relationships across corporate, government, commercial and industry networks.

He spent the past seven years at Hollard, most recently as executive chairman of Hollard Risk Capital.

Prior to this, Ivan was an integral part of the team that drafted the Financial Sector Charter and was largely responsible for the Human Resources Development chapter of Ivan Mzimela the Charter. Ivan has also held senior and Liberty Life executive positions in Nedbank and Eskom. Group executive HR

Izak completed his traineeship with Deloitte South Africa. He gained valuable experience working at various financial services companies and is currently heading up Mergence Africa Capital and Mergence Africa Properties.

Izak has in the past served as an EXCO member of various bodies including, ABASA Western Cape, Trainee Accountants Forum and ABSIP. He also represented ABSIP on the BUSA Economic Committee.

Izak Petersen He has served as a member of the SAICA Mergence Africa Holdings Members in Business Management Executive Director Committee. Izak is a registered SAICA and IOD (Institute of Directors) member.

46 ABSIP GAMECHANGERS – 2013 As Head of Institutional Distribution, Jerry’s role is to spearhead STANLIB’s penetration of the large corporate and institutional market in South Africa.

Before joining STANLIB in 2010, Jerry fulfilled senior distribution roles with a number of top South African financial services organisations, culminating in his appointment as Senior Executive: Business Development and subsequently Head of Corporate Distribution at Old Mutual (OMIGSA). Jerry Mnisi STANLIB Head: Institutional Distribution

Kirshni is Head of Institutional Business at Coronation Fund Managers and a member of the executive committee.

She is responsible for client service and business development on behalf of local institutional clients within South Africa, Namibia, Swaziland and Botswana.

She joined Coronation in 2000 as a member of the investment team. Three years later she was appointed to her current position. Kirshni started her career in 1995 as an Kirshni Totaram actuarial assistant at Sanlam and then Coronation Fund Managers spent three years as head of the Aids Head: Institutional Business research unit at Metropolitan Life.

ABSIP GAMECHANGERS – 2013 47 ASSET MANAGEMENT

Kay’s role as Strategic Project Manager is to support the Chief Executive Officer with strategic objectives and priorities across the different businesses of Sanlam Investments. She joined Sanlam in 2007.

Previously to that Kay was a consultant from 1996-2006 where she worked for various companies including Hatch Engineering, Deloitte Consulting and Simeka Consulting, Vodacom, Sasol, Mittal Steel, South African Breweries, Langeberg Foods (subsidiary of Tiger Brand) Lonmin, Kay Lala-Sides Anglo Gold, Eskom, City Power and Edi Sanlam Holdings. Strategic Project Manager She is a member of Sanlam Investment’s Executive Committee.

Krishna has over 15 years of fixed income investment experience.

His experience was acquired at firms including Allan Gray Ltd, African Harvest Fund Managers & Oasis Asset Management in the positions of Fixed Income Trader, Analyst & Portfolio Manager.

Krishna Sathee Argon Asset Management Portfolio Manager: Fixed Income

48 ABSIP GAMECHANGERS – 2013 Lele is Head of Human Resources at Allan Gray. She is also a Director at Accelerate Cape Town and a member of the Transformation, Skills Development and Education Board Committee of the Association of Savings and Investments South Africa.

Lele joined Allan Gray in 2006, having previously worked in various middle and senior level HR and HRD positions in the Finance and Retail sectors. Lele Mehlomakulu Allan Gray Head: Human Resources

Lesiba has significant finance and telecommunications experience, with financial and management expertise gained from both the private and public sectors.

He joined Vodacom SPRL in the Democratic Republic of Congo in 1999 as Head of Financial Management, has worked for Vodacom South Africa; the Limpopo Economic Development agency in South Africa as Group Finance Director and also served as a Chief Operating Officer. Lesiba Morallane Harith He serves in various boards, including the Investment Director in the South African Road Agency, Limpopo Office of the CEO Province, and Checkers/Shoprite (Propriety) Limited – Thohoyandou, Limpopo Province.

ABSIP GAMECHANGERS – 2013 49 ASSET MANAGEMENT

Luyanda has over 10 years of financial services industry experience (business development and client manager, accountant). Luyanda’s prior investment industry experience is from Nedbank and Quaystone Asset Management.

Luyanda Joxo Argon Asset Management Business Development Manager

Mahesh is a Director of Allan Gray and heads up the Institutional Client Servicing team.

He is also a trustee of the Allan Gray Orbis Foundation. He joined Allan Gray in 2003, having had previous experience in investment and healthcare consulting.

He is a qualified actuary.

Mahesh Cooper Allan Gray Director Head: Institutional Client Servicing

50 ABSIP GAMECHANGERS – 2013 Manas has over 16 years of industry experience including lecturing, investment analysis, and portfolio management across the asset class spectrum, including derivatives.

He has multi organisational experience at leading firms such as Standard Corporate & Merchant Bank and most recently Taquanta Asset Managers.

In addition, Manas is also a published contributor to mathematics journals, a Dr Manas Bapela regular industry conference presenter and Argon Asset Management a member of investment committee of the Chief Investment Officer IRF (Institute of Retirement Funds).

Masebolelo joined Argon in 2008 after graduating from university.

She started in the role of portfolio administrator. She has been internally trained within the firm into her current role of Financial Accountant.

Masebolelo Mokhele Argon Asset Management Financial Accountant

ABSIP GAMECHANGERS – 2013 51 ASSET MANAGEMENT

Max is a Partner in the Insurance & Legal Liability Practice at Webber Wentzel. He advises on all aspects of insurance coverage, including director and officer, professional indemnity and third party liability matters.

He also acts in a wide range of complex High Court matters involving delictual and contractual disputes and has defended claims in Swaziland, Namibia and Kenya.

Max regularly presents seminars on Max Ebrahim the impact of certain provisions of Webber Wentzel the Consumer Protection Act and the Partner Companies Act.

Merlita is a Partner in Webber Wentzel’s Insurance & Legal Liability Practice. She specialises in insurance law and insurance litigation with an emphasis on professional negligence, professional indemnity, medical malpractice, personal injury and material damage.

Her dispute resolution and litigation experience extends from general commercial litigation to tender-related litigation and municipal and state liability.

Merlita Kennedy Webber Wentzel Partner

52 ABSIP GAMECHANGERS – 2013 Mokgatla has over a decade of experience in bond portfolio management and trading.

His experience was acquired from PSG Investment Bank where he was a bond trader; and at Futuregrowth Asset Management where he was a bond dealer, credit analyst and money market dealer.

Mokgatla joined Argon from Investec Asset Management, where he managed the core bond portfolio, while simultaneously serving as assistant portfolio manager for Mokgatla Madisha short duration products. Argon Asset Management Head: Fixed Income

Nazley manages a range of funds, including Passive ILBs, Passive All Bond index and various cash money market portfolios. Her core responsibilities include the trading of all fixed interest instruments, as well as forex trading and overseeing the cash-flow management process.

In 1998, Nazley joined Old Mutual Investment Group (SA) (previously OMAM). In 2008 she joined the Futuregrowth Fixed Interest team.

Nazley Bardien Futuregrowth Portfolio Manager

ABSIP GAMECHANGERS – 2013 53 ASSET MANAGEMENT

Nolwandle has more than 10 years’ experience in strategy research, development and implementation in the financial services space.

She has an accomplished record in the planning, implementation and monitoring of strategic initiatives in large organisations, notably in the adoption of alternative distribution models in the insurance industry.

Nolwandle’s proven record of exceptional leadership, while building trust among Nolwandle Mgoqi business partners, large workforces Mbalo and other stakeholders at all levels, has established her reputation as a key STANLIB executive at both strategic and tactical Head: Strategy levels.

Pani is a seasoned professional with many years of transactional experience in project finance, private equity, investment banking and corporate finance. Prior to working for Harith, Pani was an executive at the Development Bank of Southern Africa.

She worked for several financial institutions, including Public Investment Corporation; African Harvest Capital; and ABN Amro, where she was employed in corporate advisory services.

Pani Tyalimpi Pani also spent five years at the Harith Development Bank of Southern Africa, Head: Corporate Advisory working in the Project Finance Unit. Services

54 ABSIP GAMECHANGERS – 2013 Patrice was appointed Head of Equities at Sanlam Investment Management in 2011, having previously held the position of Senior Portfolio Manager. He also manages SIM’s General Equity Unit Trust.

Patrice joined SIM in 2006 as Portfolio Manager, and in 2007 was promoted to voting member to the Model Portfolio Group. He took over the running of the SIM Growth fund at the end of 2008.

Patrice began his career in 1996 at Patrice Rassou PricewaterhouseCoopers. In 2005, he joined Sanlam Investment Thesele Group as Associate Director. Management Head: Equities

Patrick started his career in 1996 as a research analyst for Syfrets Managed Assets before advancing to become a portfolio manager.

In 2000 he joined Old Mutual Asset Managers as a portfolio manager for industrial sector funds and the multi-award winning Old Mutual Consumer Fund. Before leaving Old Mutual in 2008 he held the designation of Joint Head of Core Equity Investments within Omigsa.

Patrick Ntshalintshali In 2008 he co-founded Mtungwa Vunani Fund Managers Investment Holdings with investments in Portfolio Manager: Equity mining, financial services, information technology and property development. (Industrials)

ABSIP GAMECHANGERS – 2013 55 ASSET MANAGEMENT

Phelisa joined Sanlam Investment Management in 2005 as a Sales Executive and one year later was promoted to Head of Institutional Sales. In 2011, she joined Sanlam Employee Benefits as Head of Institutional Business. She was recently appointed as a trustee of Sanlam Trust administration. She is a fellow member of the Institute of Directors Southern Africa.

She started her asset management career with Nedcor Investment Bank Asset Management as a Client Liaison Officer in Phelisa Ngonyama 1999. She then joined Standard Corporate Sanlam and Merchant Bank Asset Management Head: Institutional Business – as a Marketing Manager before joining Metropolitan. Employee Benefits

Phillip joined Sanlam Investment Management in 2010 as Head of Institutional Clients and now heads up Institutional Business Development and Relationship Management. He is a member of the Executive Committee.

Phillip’s career started at PricewaterhouseCoopers, followed by six years in internal auditing at Transnet. He joined Transnet Pension Fund Administrators as Chief Operations Executive for six years, and served as a second in charge Phillip Vuyisile Mjoli to the Chief Executive Officer. In 2005, Sanlam Investment Management Phillip joined the executive leadership of Momentum and was appointed Head of Head: Institutional Business Broker and Client Services, and Executive Development and Chairman of Lekana Employee Benefits. Relationship Management

56 ABSIP GAMECHANGERS – 2013 Priyen occupies the position of Executive of Governance, Risk and Compliance at Lion of Africa Insurance Company. He is an attorney with more than 17 years’ experience the legal, risk management, forensics and investigation fields.

Priyen has previously been employed by various organisations within the private and public sectors, including Deloitte, Directorate of Special Operations (Scorpions) and the Special Investigation unit, in senior management and executive Priyen Moodley positions. Lion of Africa Insurance Company Limited In addition to his responsibilities at Lion of Africa, Priyen is currently a member of the Executive: Governance, South African Insurance Crime Bureau’s Risk and Compliance Audit and Governance Committee.

Rashad is a Partner in the Insurance & Legal Liability Practice at Webber Wentzel. He advises insurers on the drafting and vetting of insurance contracts, liability and policy coverage issues.

He acts in litigious matters and advises on disputes before the Pension Funds Adjudicator and Ombud for Financial Service Providers.

His experience extends to acting for insurers, defending claims for damages and Rashad Ismail advising airlines and aerodrome operators Webber Wentzel on legal liability and litigation in respect Partner of claims for damages arising from air accidents and defective workmanship.

ABSIP GAMECHANGERS – 2013 57 ASSET MANAGEMENT

Rauzeen joined Kagiso Asset Management in 2010 as a Client Relationship Manager and was promoted to Head of Client Services in 2012.

Rauzeen graduated from the University of Cape Town in 2005, simultaneously working at Oasis Group Holdings as a Financial Accountant from 2003. In 2005 he joined Ovation Global Financial Services as a Fund Accountant, moving to Investec Asset Management as a Client Liaison Officer a year later. Rauzeen Fredericks Kagiso Asset Management Head: Client Services

Robert joined Sanlam Investment Management as Head of Marketing in 2012. Robert’s role at SIM is to position the Investments brand both internally and externally to facilitate business flows and increased profit.

Prior to joining SIM, Robert worked at Cadiz Holdings for seven years as group marketing manager. There he managed group communication, events and established the groups’ CRM programme. Before working at Cadiz Holdings, he held Robert Thompson various positions at South African Breweries Sanlam Investment (SAB) over a period of nine years, including Management trade marketing manager, operations manager, projects manager, area Head: Marketing manager and sales manager.

58 ABSIP GAMECHANGERS – 2013 Safs completed his articles in 1999 at Deloitte, Cape Town focusing on financial services companies. In 2000 he joined Ernst & Young with his key clients being asset management and insurance companies.

In 2001 he joined Metropolitan where he held various senior management positions. He joined Metropolitan Asset Managers in 2005 where he held various positions including Product Development, Analyst and Portfolio Manager.

Safs Narker Post the merger with Momentum, Safs Vunani Fund Managers served as an analyst covering the financial services sector and also managed the Portfolio Manager: Equity and Momentum Financial Services Fund. Property

Sagrie has been with Deutsche Bank for six years working in the Fixed Income team and her primary responsibility is to manage and trade the liquidity books.

Prior to joining, she worked at Investec for six years on their bonds trading desk initially and then on proprietary trading after the bond trading and interest rate desks merged. She moved on to Derivative Sales and Structuring.

Before that, Sagrie worked at Eskom Pension Sagrie Naidoo and Provident Fund and Alexander Forbes Deutsche Bank Consultants and Actuaries. Fixed Income Dealer

ABSIP GAMECHANGERS – 2013 59 ASSET MANAGEMENT

Sajeeda has worked for the Maitland Group since 2007. She is currently responsible for the delivery of strategic projects and programmes.

Prior to Maitland, as a business consultant, financial analyst and strategist, Sajeeda worked for Thawte Consulting, Rand Merchant Bank and Accenture.

Sajeeda Ebrahim Maitland Group South Africa Director

Seema is a member of the Institutional Client Servicing team at Allan Gray and is Head of Orbis Client Servicing in South Africa (Orbis is Allan Gray’s offshore investment partner). She is also a trustee of the Allan Gray Limited Employee Empowerment Share Trust.

Seema joined Allan Gray in 2007 having previously worked as a manager at PwC in their Cape Town, San Francisco and London offices.

Seema Dala Allan Gray Head: Orbis Client Service – SA

60 ABSIP GAMECHANGERS – 2013 Sello has over 14 years of relevant financial management and portfolio administration experience.

He spent over four years at the RSA subsidiary of NYSE listed global asset manager, Alliance Capital Management LP (now Alliance Bernstein LP) where he oversaw finance and administration.

Sello Setai Argon Asset Management Head: Finance and Operations

Sipho has over 10 years’ merchant banking experience. Prior to joining Harith, he worked for Investec Bank, Coronation Capital and African Merchant Bank in South Africa, with a focus on aircraft and plant and equipment financing, and various acquisition finance transactions.

He is responsible for PAIDF’s CIVH (DFA) and Main One Investments.

Sipho Makhubela Harith Investment Director

ABSIP GAMECHANGERS – 2013 61 ASSET MANAGEMENT

Souleymane joined Harith in 2007. He has led a range of private and PPP transactions in the ICT, energy and transport fields across Africa.

Previously he spent five years at AfDB, where he was a senior investment officer in the Infrastructure Finance Division, a senior financial analyst and a senior analyst in the Treasury Department.

Before this Souleymane was an investment manager in charge of the development Souleymane Keita of new financial products at Dexia Public Harith Finance. Souleymane’s experience Investment Director includes stints at Parabas Affaires lndustrielles and Lazard Freres & Cie.

Thando is a director of Allan Gray where he leads the firm’s business activities in Africa,excluding South Africa.

Over the last 23 years, he has worked in various capacities in asset management, principal investing, investment banking and corporate law across Africa and in the US.

Thando is chairman of the National Empowerment Fund (the South African government’s venture capital fund). Thando Mhlambiso Allan Gray He was also vice-chairman of council of Director the University of Cape Town and chairman of E².

62 ABSIP GAMECHANGERS – 2013 Thenjiwe is an economist at Harith. Previously she ran the PIC’s Fund of Funds Unit.

Prior to joining PIC she worked for the National Treasury Asset and Liability Division responsible for restructuring state owned enterprises in the telecoms and energy sectors.

She brings to the team 15 years’ experience in corporate finance, private equity and development finance, having worked Thenjiwe Vanda for Standard Bank, WesBank corporate Harith finance as well as the Development Bank of Southern Africa. Economist Executive

Tracy-Lee started her career at PricewaterhouseCoopers where she completed her articles. Thereafter, at the beginning of 2008, she joined in the capacity of Head Finance and Operations.

Tracy-Lee is also the registered compliance officer and is responsible for all statutory and portfolio/mandate compliance.

Tracy-Lee Scott Kagiso Asset Management Head: Finance and Operations

ABSIP GAMECHANGERS – 2013 63 ASSET MANAGEMENT

Vuyo is responsible for overall strategy of the institutional business, its implementation and management of the team.

He has over 10 years’ experience in the financial services industry and previously worked for Alexander Forbes Asset Consulting.

Vuyo is an actuary and holds a BEconSc Degree from the University of the Witwatersrand in actuarial science and mathematical statistics. Vuyo Nogantshi Nedgroup Investments Head: Institutional Business

64 ABSIP GAMECHANGERS – 2013

PRIVATE EQUITY

As Executive Director and shareholder at Sphere Holdings, Aadil oversees the group’s private equity strategy and investment functions.

Aadil has been a member of the Sphere team since the business’ inception and brought his extensive experience in private equity fund management, empowerment transactions and project finance gained at AMB Private Equity Partners, Ethos Private Equity and Industrial Development Corporation. Aadil Carim Sphere Holdings He holds board positions in several of Executive Director Sphere’s investee companies and has contributed meaningfully to building Sphere’s reputation as a value-adding partner.

Tumi is co-founder and Principal of Bopa Moruo – a mid-market private equity firm focused on generating long-term capital appreciation by investing in profitable and growing businesses.

Tumi has extensive experience gained at leading private equity funds operating across Africa. He served as an Investment Professional with Development Partners International, a London based pan-African private equity fund manager.

Boitumelo Tlhabanelo He was previously a Director of Brait Bopa Moruo Private Equity, and prior to joining Brait, Tumi qualified as a chartered accountant Principal and worked on various statutory audits of leading insurance and industrial companies for PricewaterhouseCoopers.

66 ABSIP GAMECHANGERS – 2013 Eutychus was appointed Co-Head of RMB Ventures in 2009, and is a member of the RMB Management Board. He joined RMB as a private equity transactor in 2000 after completing his MBA studies.

Eutychus graduated with a degree in electrical engineering from the University of Nairobi (Kenya) and subsequently joined PricewaterhouseCoopers where he qualified as a certified public accountant (CPA).

Eutychus Mbuthia Rand Merchant Bank Co-Head: Ventures

Marang is responsible for deal generation, execution and the post-investment management of Sphere’s portfolio companies and represents the business on the boards of several of its underlying investments. She joined Sphere in 2004.

Marang gained her early industry experience as a research analyst and portfolio manager at asset management companies Standard Corporate and Merchant Bank (SCMB), now Stanlib, and Futuregrowth Asset Management. Marang Denalane Sphere Holdings She has served on a number of industry Director panels, serves on the Executive Committee of ABSIP, and is a former board member of the Financial Sector Charter Council.

ABSIP GAMECHANGERS – 2013 67 PRIVATE EQUITY

Siyabonga is an investment professional at Medu Capital. He is responsible for transaction execution and support activities.

He sits on various Medu Capital portfolio company boards and sub-committees. He is also a board member and treasurer of the South African Venture Capital & Private Equity Association.

Prior to joining Medu Capital in 2007, Siyabonga spent three years at Siyabonga Nhlumayo PricewaterhouseCoopers’ Transaction Medu Capital Services advising on a range of Investment Associate transactions.

Vijay is a Partner in the Private Equity Practice at Webber Wentzel.

He specialises in corporate and general commercial law and has advised a number of clients across a wide range of industries on mergers, acquisitions, disposals, private equity transactions, empowerment transactions, joint ventures and general commercial matters.

Vijay Moodaley Webber Wentzel Partner

68 ABSIP GAMECHANGERS – 2013 Zeyn Angamia is a Principal/Partner at Medu Capital and is responsible for investment execution and transaction management.

With over 12 years experience in auditing, corporate finance and private equity investing, Zeyn is a Chartered Accountant and completed his training at PricewaterhouseCoopers before joining their Corporate Finance team, specialising in Valuation and Strategy.

Zeyn Angamia Zeyn is a non-executive director of a number of private companies in a variety of Medu Capital sectors. Principal/Partner

ABSIP GAMECHANGERS – 2013 69 BANKING/ INVESTMENT BANKING/ ADVISORY

Adriano is a Partner in the Insurance & Legal Liability Practice at Webber Wentzel. He specialises in local government law, administrative law and procurement matters.

He advises clients on land use planning, procurement, property rights and environmental law as well as general statutory and regulatory compliance.

Adriano has particular knowledge of the Municipal Structures Act, Municipal Systems Adriano Esterhuizen Act and Municipal Finance Management Webber Wentzel Act. Adriano’s experience extends to litigation in both the Magistrates’ and High Partner Courts.

Anushuya joined Deloitte in 2009 as a Partner. She has several years of experience at Deloitte which includes involvement in the Global Development Programme in the Netherlands, time spent in the Consulting division, and specialist banking experience in Singapore.

During her two years in Europe, she worked partly for the Deloitte EMEA (Europe, Middle East and Africa) management.

Anushuya Gounden She is a current National Board Member for Deloitte the Association for the Advancement of Partner: Financial Institutions Black Accountants of South Africa. Services Team Head: Africa Nerve Centre

70 ABSIP GAMECHANGERS – 2013 Ayanda is Co-Head of Debt Capital Markets at Rand Merchant Bank.

She started in Global Markets as a Trader 12 years ago, moved into Coverage as Business Development Director, before being appointed Co-Head of DCM in 2010. Prior to joining RMB, Ayanda was a Private Equity analyst at Brait.

Ayanda Sisulu-Dunstan Rand Merchant Bank Co-Head: Debt Capital Markets

Bester is a Partner in Webber Wentzel’s Mergers & Acquisitions Practice. He specialises in mergers, acquisitions, corporate restructurings and empowerment transactions.

His expertise extends to acquisition and leveraged finance, corporate finance, structured finance and structured trade and commodity finance. Bester also has extensive experience in general commercial law.

Bester Ngoepe Webber Wentzel Partner

ABSIP GAMECHANGERS – 2013 71 BANKING/ INVESTMENT BANKING/ ADVISORY

Bruce joined Motseng Investments Holdings in 2008 and serves as the Group’s Chief Investment Officer.

Prior to joining MIH, Bruce was Deputy Managing Director at Kagiso Ventures where he was also a member of empowerment grouping’s Executive Committee. He specialised in mergers and acquisitions at Rothschild Johannesburg and was an Associate in the Mining and Diversification team at HSBC.

Bruce Zungu Prior to returning to South Africa in 2002, Motseng Investments Holdings Bruce was at CIT Corporate Finance, New York, and spent three years in the corporate Group Chief Investment Officer finance group at Black & Veatch, in Kansas City (USA).

Bulelwa is currently a Sales Trader in Global Markets at Deutsche Bank. She is primarily responsible for the FX and Money Market sales.

Bulelwa joined the investment banking industry in 2004 as part of the graduate training program at Deutsche Bank and has since grown in her involvement in foreign exchange markets.

Bulelwa Soyamba Deutsche Bank Sales Trader

72 ABSIP GAMECHANGERS – 2013 Busisa joined Absa Asset Management in 2010 as Managing Director. He was previously the Managing Director of Thomson Reuters (Markets) in Africa.

Busisa has 15 years of business experience, including Principal Officer and acting Chief Executive of the Eskom Pension and Provident Fund.

He started his career in Liberty Life Multi Management as Head: Liberty Multi- Manager. Busisa Jiya Absa Managing Director: Asset Management

Busi is responsible for performance management, business management and business planning, as well as strategic support.

She has over nine years experience in financial services covering corporate finance, strategy, projects and client franchise strategy. She began her career at JP Morgan, followed by a secondment to New York. She then joined Standard Bank

Busi joined Absa Group in 2009 in the Busisiwe ‘Busi’ Kgaladi Client Franchise Strategy team. She was Absa Wealth Management appointed Head of Business Performance Head: Business Planning and and Planning in 2012. Performance

ABSIP GAMECHANGERS – 2013 73 BANKING/ INVESTMENT BANKING/ ADVISORY

Candice is a Partner in the Mergers & Acquisitions Practice at Webber Wentzel.

She practices corporate law, focusing on corporate transactions and commercial law including corporate governance and company law compliance, contract drafting, mergers and acquisitions, and corporate and project development and finance.

She also advises clients on regulatory matters. Candice Meyer Webber Wentzel Partner

Charles is the current BUL for Corporate Finance. He currently leads IFRS valuation work in Deloitte South Africa. His responsibilities include supervision of assignments for non-audit clients and overseeing support given to audit teams pertaining to the audit of fair value estimates.

He is a member of the Deloitte Board of Partners & Directors for Southern Africa and also a member of the Deloitte Africa Board.

Charles Larbi-Odam Charles joined Deloitte as a Trainee Deloitte Accountant in 2000 and was appointed Director in Corporate Finance in 2007. Business Unit Leader: Corporate Finance

74 ABSIP GAMECHANGERS – 2013 Chetan joined Investec in 2006 and is currently Senior Deal Maker in Structured and Leveraged Finance responsible for originating and executing large leveraged and structured finance transactions. He is responsible for team strategy.

Prior to this, Chetan was with RMB Corvest/ Safika Private Equity Fund (2005-2006); Industrial Development Corporation (2000- 2005); and completed his articles with PricewaterhouseCoopers and Y Moosa & Co. Chetan Haimraj Jeeva Investec Bank Senior Deal Maker: Structured and Leveraged Finance

Cumeshan heads up the Eastern Cape region of Investec Bank. He is based in Port Elizabeth.

Cumeshan is a qualified attorney and was Managing Director of Goldberg & De Villiers Inc., from 2003 until 2012.

He is an independent, non-executive Director of Johannesburg Stock Exchange listed company, RGT Smart Market Intelligence Limited.

Cumeshan Jayaseelan Moodliar Investec Bank Regional Head: Eastern Cape

ABSIP GAMECHANGERS – 2013 75 BANKING/ INVESTMENT BANKING/ ADVISORY

Cyril heads up the Motor Division of WesBank, a position held since 2007. He holds an MBL (Unisa) and CIAB (SA) with wide ranging skills in asset-based finance, sales and marketing within the motor vehicle industry. Cyril has held various positions within WesBank over the past 18 years and has been involved in the setting up of various joint venture alliances for the Bank with motor dealer groups and motor vehicle manufacturers and distributors.

Cyril serves on the boards of Toyota Cyril Zhungu Financial Services Pty Ltd and Dekra WesBank Automative Pty Ltd and is a member of the Institute of Bankers (CAIB (SA) and the General Manager: Institute of Directors (IOD (SA) respectively. Motor Division

Deepa is a Partner in Webber Wentzel’s Mergers & Acquisitions Practice.

She specialises in a number of legal areas including mergers and acquisitions, corporate reorganisations and restructurings, empowerment ventures and general commercial practice.

She has particular knowledge of the Companies Act, the Mining Charter, the Mineral and Petroleum Resources Development Act and the Broad Based Deepa Vallabh Black Economic Empowerment Act. Her Webber Wentzel expertise extends to tax law. Partner

76 ABSIP GAMECHANGERS – 2013 Dhiren is a derivative structurer specialising in Fixed Income and Currency as well as Credit and Commodities. In 2005 he joined Investec Corporate and Institutional Banking as part of their Treasury Sales and Structuring team, which he now heads.

Dhiren began his career in 2000 at Deloitte & Touche Actuaries where he was involved in performing actuarial valuations on pension plans as part of the national UK Pensions Review. In 2002 he joined Investec Employee Benefits in asset liability Dhiren Mansingh management. Investec Bank Head: Treasury Sales and Structuring

Dinesh joined Deloitte in 1998 and was appointed a partner in Financial Services in 2006. He is the lead Partner of Funds and Investment Management for South Africa.

In his fifteen-year career with the firm he has gained significant experience providing audit and advisory services in private equity, retirement funds, short- and long- term insurance, collective investments schemes, assets management and securitisation.

Dinesh Munu Dinesh is a trustee for the Deloitte Pension Deloitte and Provident Fund; and is the Chairman Partner Leader: Funds and of the SAICA Pension Fund. He is also the Investment Management Chairman of the SAICA Retirement Fund Working Group.

ABSIP GAMECHANGERS – 2013 77 BANKING/ INVESTMENT BANKING/ ADVISORY

Diteboho is a director at Absa, heading up the Fixed Income Sales Team.

He started his career in 2001 as a graduate at JP Morgan where he spent eight years. In 2005 he joined the award winning Absa FI Flow Sales team servicing institutional clients.

Diteboho Khumalo Absa Director

Elizabeth is responsible for Strategic Human Resources for the FirstRand group. She has over 15 years’ experience in corporate banking.

Elizabeth is a member of the FirstRand Executive Committee and serves on various committees that relate to Group functions.

She initiated the FirstRand Accelerated Development Programme (ADP) which aims to provide talented senior managers with theoretical and practical knowledge and Elizabeth Maepa skills in critical areas of managing a banking FirstRand business. Group HR Executive

78 ABSIP GAMECHANGERS – 2013 In 2004 Ernest joined Rand Merchant Bank Corporate Finance as a dealmaker. Ernest is a Senior Transactor in Corporate Finance and is responsible for the origination, evaluation and structuring of transactions.

He sits on the Investment Banking Division’s Board with responsibility to drive transformation initiatives of the division.

Ernest completed his training as a Chartered Accountant in 2001 with Deloitte & Touche where he worked in the financial Ernest Kwinda services sector. After completing his articles Rand Merchant Bank Ernest joined De Beers Consolidated Mines as Project Accountant and Financial Senior Transactor Accountant.

Ranked in 2011 by Forbes as one of Africa’s Top 10 most ‘Powerful and Influential Men under Forty’ Euvin also serves as a Young Global Leader at the World Economic Forum. In 2012 he was selected to join the Forum’s US Global Agenda Council.

As an executive at Standard Bank, Euvin is responsible for developing and driving the strategic risk appetite framework across both Business and Personal Banking in Africa.

Focusing on best practice across business Euvin Naidoo and risk, he covers a 14 country pan-African Standard Bank portfolio. He was previously the New York Head: Credit Portfolio based President & Chief Executive Officer of the SA Chamber of Commerce in America Management & Risk Appetite, having started his career as a consultant at PBB Africa McKinsey & Co in the 1990s.

ABSIP GAMECHANGERS – 2013 79 BANKING/ INVESTMENT BANKING/ ADVISORY

Fazel has been with Investec since 2007 and currently leads the South African Project and Infrastructure Finance team. He has specific experience in developing and providing equity and debt finance to power projects.

His initial experience was in the agri- business and biofuels arenas, having worked for the South African Department of Trade and Industry, after which he consulted independently, and subsequently was employed by Absa/ Fazel Moosa Barclays Bank. Investec Bank Head: Project and Infrastructure Finance, South Africa

George is a Partner in the Mergers & Acquisitions Practice at Webber Wentzel.

He specialises in mergers and acquisitions (both cross-border and domestic) and equity capital markets.

He has extensive experience in stock exchange law, securities regulation law, corporate finance law and general commercial law.

George Sibanda Webber Wentzel Partner

80 ABSIP GAMECHANGERS – 2013 Goolam is Chief Economist and Head of Research for the Standard Bank group.

He leads a unit which analyses financial and commodities markets as well as macro- economic and socio-political themes. The division’s emphasis is on emerging markets, especially in Africa.

Goolam has 13 years of experience in macro-economics and financial markets.

Goolam Ballim Standard Bank Chief Economist and Head: Research

Hafiesa is a Partner in the Mergers & Acquisitions Practice at Webber Wentzel.

She specialises in general corporate and commercial law; mergers, acquisitions and joint ventures; and maritime and transport law.

Hafiesa has been involved in the drafting and negotiation of a variety of commercial agreements.

Hafiesa Samsodien Webber Wentzel Partner

ABSIP GAMECHANGERS – 2013 81 BANKING/ INVESTMENT BANKING/ ADVISORY

Hale is currently a teamleader in the corporate finance division of Rand Merchant Bank. He has been in the corporate finance industry for 13 years, including a three year period in New York working for JPMorganChase and two years in the South African office.

He was recently awarded the Top corporate financier at the 8th ABSIP Financial Services Awards in 2011.

Hale Matsipa Rand Merchant Bank Team Leader: Corporate Finance

Hannah joined Standard Bank in 1987 as a teller and has steadily worked her way up to her current executive role as Head of Customer Channels for Personal and Business Banking in South Africa.

Hannah is an advisory board member of MBDA (Mandela Bay Development Agency), Stenden University of South Africa (subsidiary of EISS International), Hospitality Management Educations, as well as Arrepp, Theatre for Life which focuses on developing resilient youth. Hannah Sadiki Standard Bank Head: Customer Channels

82 ABSIP GAMECHANGERS – 2013 Indheran is Head of Operations – Advisory at Regiments Capital with responsibility for the people management, day to day functioning of the business unit and execution of client projects. He has spent the majority of his career with Microsoft Corporation in Seattle USA (2003-2008), Singapore (2000-2002), India (1997-1999) and South Africa (1996-1997).

Prior to that he was with IBM South Africa from 1989-1996 where he worked his way up the ranks from a Systems Engineer. Indheran Pillay Regiments Capital Head: Operations – Advisory

Jackee has been responsible for strategic communications and all marketing functions for Deutsche Bank in South Africa, since 2011. She started her career in financial services when she joined Deutsche Bank’s Corporate Affairs team in 2005. In 2006, she joined Brait, managing marketing until she returned to Deutsche Bank to take up her current role.

She previously worked in communications for the London Borough of Camden, and focused on investor and public relations Jackee Downs while at Simeka TWS Communications in Deutsche Bank Cape Town. Head: Marketing Jackee is a member of Deutsche Bank’s Transformation Committee.

ABSIP GAMECHANGERS – 2013 83 BANKING/ INVESTMENT BANKING/ ADVISORY

Jason is a Partner in Webber Wentzel’s Projects – Finance, Environment & Development Practice.

He specialises in project, infrastructure and energy developments and finance; public- private partnerships; syndicated and term lending; bank, public finance, energy and infrastructure regulation; securitisations and bond issues and programmes.

His expertise extends to partnerships and joint ventures, construction and operational Jason van der Poel contracts, power purchase agreements, Webber Wentzel procurement, loans, bond issues and Partner securitisations.

Jenitha is the Chief Audit Executive for the FirstRand Group and a permanent invitee of the FirstRand Executive Committee.

She is an Associate Member of the Institute of Directors of SA and the Institute of Internal Auditors SA.

Prior to joining FirstRand, Jenitha held various financial and audit related roles at Discovery Holdings, Telkom SA, Eskom, Toyota SA and RMBT Property Services (Marriott Group). Jenitha John FirstRand Jenitha is currently a Non-Executive Director of Tongaat Hulett and Business Chief Audit Executive Connexion where she is also Chairman of the respective Audit Committees.

84 ABSIP GAMECHANGERS – 2013 Jennifer is a Director at Rothschild and has over 16 years’ experience in M&A advisory, capital raising, debt and project finance advisory.

Her previous positions include: Executive Vice President of Project Finance at CIC Energy Corp; Head of Corporate and Project Finance at Industrial Development Corporation; and Head of Structured Finance at CorpCapital Bank.

She began her career as a Chemical Jennifer Chetty-Feinberg Engineer at AECI and later moved into Rothschild financial services after completing her Director BCom Degree. She was previously a Non Executive Director at Vaal Silicon Smelters, Biochemical Control Products and Protea Hotels Hospitality.

Kabelo is a Partner in Webber Wentzel’s Mergers & Acquisitions Practice. Kabelo’s practice has focused on commercial transactions and general advice on regulatory issues in the oil and gas, healthcare, financial services and public sectors.

His expertise extends to mergers, acquisitions and empowerment transactions as well as corporate and general commercial law, security regulations and equity and capital markets. Kabelo Dlothi Webber Wentzel Partner

ABSIP GAMECHANGERS – 2013 85 BANKING/ INVESTMENT BANKING/ ADVISORY

Kenny is responsible for corporate relationship management and business origination. He was appointed to his current role in 2012, prior to heading up Transactional Products and Services.

He joined Standard Bank as Head of Investor Services in 2006.

Kenny joined Business Against Crime South Africa as its Chief Executive Officer in 2003.

Kenny serves on the following boards: Kenny Fihla Business Against Crime, AVI Staff Standard Bank Empowerment Trust, Batho Batho Trust and Head: Corporate and Umyezo (Pty) Limited. Investment Banking

Kholekile is currently a Transactor in RMB Leveraged Finance focused on the origination, structuring and arranging financing solutions for RMB clients. He also leads the strategic initiative of providing capital solutions for large BEE Groups.

Previously, he was Executive Assistant to the FirstRand Group Chief Financial Officer and Chief Operations Officer. Prior to joining the FirstRand Group, he started his career at Accenture as a management consultant in the Resources and Utilities business. Kholekile Ndamase Rand Merchant Bank Kholekile is a member of the Investment Senior Transactor Banking Division strategic forum and sits on the Investment Banking Division board.

86 ABSIP GAMECHANGERS – 2013 Kyansambo has been with Regiments Capital since 2012 as Chief Financial Officer.

Her previous work experience includes MMI Limited (Momentum and Metropolitan) (2011-2012); Momentum Group Limited (2008- 2011); Teba Bank Limited (2008); BDO Spencer Steward (2007-2007); Nexus Connexion (2006-2007); Zungu Investment Company (2006); Credit Suisse First Boston, UK (2005-2006); and BDO Spencer Steward Inc (2002-2004).

Kyansambo Vundla Regiments Capital Chief Financial Officer

LeRoy is the Chief of Staff for the Corporate, Investment Banking and Wealth business unit within Barclays Africa Technology.

He joined Absa in 2006 as a Business Analyst within Payments Operations and has since broadened his experience to other areas of the bank including International Banking, Custody and Trustee Operations, and Secondary Market Operations.

LeRoy started his career at East Rand Water, and moved on to AmVia (now VoxAmvia) LeRoy Barnes as a Solutions Engineer where amongst Barclays Africa Technology other achievements he implemented Chief of Staff RightFax for PwC in Nairobi, Kenya.

ABSIP GAMECHANGERS – 2013 87 BANKING/ INVESTMENT BANKING/ ADVISORY

Lincoln has presented extensively to various local and international conferences, and most recently was elected as the 2013 Class Speaker for the Harvard Business School AMP graduation ceremony.

In addition to this, he has written more than 100 newsletter articles on issues relating to leadership, people, service, sales, women in leadership, and business performance, in his personal writings titled “Conversations with Lincoln”.

Lincoln Mali Standard Bank Regional Head: Western Region

Lincoln currently serves as the Stockbroker in Charge and Executive Director of Vunani Securities. Prior to this, he was Head of Equity Trading, and served on the board as an executive director of Legae Securities.

He was a Sales Trader at Mazwai Securities; and was Head of Transition Management at Brockhouse Cooper. He started his career at Standard Bank and moved to the JSE Broker services division before joining Brockhouse Cooper as an Institutional Trader. Lincoln OShea Vunani Securities Executive Director

88 ABSIP GAMECHANGERS – 2013 Makwe has been a Director at BP Bernstein since 2010, where he started the institutional desk. He founded Nehawu Securities in 2007 and prior to that was in Sales and Marketing with BP Bernstein Stockbrokers.

Makwe was founder of Alande Securities, which was a joint venture with DWT Securities trading financial derivatives.

He started a business/market column for SundayWorld newspaper, and initiated and launched the first vernacular JSE mandate. Makwe Windsor Masilela He broke into the Stokvel market and BP Bernstein launched a publication: “Stokvel Voice”. Director

Masixole joined BoE in 1997 as an Equity Dealer. In 2002, he joined ABVEST focusing on Equity and Derivatives trading, as well as Money Market and Bond Trading.

He has 15 years’ industry experience.

Masixole Mbulawa Absa Dealer

ABSIP GAMECHANGERS – 2013 89 BANKING/ INVESTMENT BANKING/ ADVISORY

Mbuso joined Sanlam Investments in 2004. He is responsible for managing and co-ordinating the Legal Compliance and Company Secretariat functions.

He is also the Company Secretary for a number of companies within Sanlam Investments.

Mbuso began his career at Francis Thompson and Aspden in 1993, as a Candidate Attorney. From 1995 to 2001, he worked at Metropolitan Asset Managers Mbuso Mtshali Limited (METAM) as a Legal Advisor. From Sanlam Investments 2001 to 2004, he worked as a Compliance Cluster Head: Legal Officer and Legal Advisor at METAM. Compliance, Company Secretary

Meluleki is a Partner in Webber Wentzel’s Mergers & Acquisitions Practice. He specialises in international trade law, mergers, acquisitions, general commercial law and anti-corruption law.

Meluleki participated in a year-long South African Visiting Lawyer Programme organised by the New York City Bar where he was exposed to transaction work on mergers and acquisitions in the corporate department of Skadden Arps, one of the New York magic circle law firms. Meluleki Nzimande Webber Wentzel Partner

90 ABSIP GAMECHANGERS – 2013 “Leading the Way”

VISION

“To be the lead custodian of professional interest and black business in the financial services sector”

Physical Address: No. 7 Zulberg Close, Integritas II, Bruma Lake, Johannesburg 2198

Phone: 011 479 0607/23 | Fax: 086 549 5147 | E-mail: [email protected] www.ABSIP.co.za BANKING/ INVESTMENT BANKING/ ADVISORY

Mervyn joined Sanlam Capital Markets in 2004. He was appointed Head of Equity Structuring unit within the Equities Division of SCM in 2007.

His focus is in developing relationships with key strategic clients and providing innovative solutions to empowerment companies which have meaningful stakes (either directly or indirectly) in companies listed on the JSE.

He received the Sanlam Chief Executive Mervyn Shanmugam Officer’s award this year (2013), the highest accolade in the company. Sanlam Capital Markets Head: Equity Structuring

Mgcinisihlalo (“Sihlalo”) was appointed a partner at Deloitte in 2007. In 2012 he was appointed the Financial Services Team (FIST) business unit leader, focusing on audit, advisory and actuarial services in South Africa and the rest of Africa.

In 2010-2011 Sihlalo served on the Deloitte global advisory council where he was amongst 25 member firm partners, advising the firm’s global executive and Chief Executive Officer on Deloitte’s strategy towards 2020. Sihlalo also serves on the Mgcinisihlalo Jordan Deloitte Africa’s executive committee, Deloitte responsible for strategy and innovation. Financial Services Team (FIST) Business Unit Leader

92 ABSIP GAMECHANGERS – 2013 Mohale is the: Business Development Director in the RMB coverage team. Previously, he headed Standard Bank’s Strategic Investments & Equity Finance team; was the Chief Operating Officer of Brait; as well as a Partner at PwC; a member of its Executive Committee; and headed the Corporate Finance team.

Prior to joining PwC, Mohale was an Associate Director in the Corporate Finance division of ABN Amro Bank.

Mohale Masithela In addition, he has worked in the New Rand Merchant Bank York and London offices of a leading Business Development Director international law firm.

Mohammed has been with Nedbank Capital, the investment banking division of Nedbank, since 2007. He currently heads the Global Markets and Treasury Strategic Research team.

As a regular market commentator and guest on CNBC Africa, Summit TV and Classic FM, Mohammed is a recognised face in the South African Financial Industry.

Mohammed’s experience spans private client, institutional and corporate client Mohammed Yaseen bases as well as experience in Equities, Nalla Equity Derivatives and Multi Asset class Nedbank Capital solution structuring. Head: Strategic Research – Global Markets

ABSIP GAMECHANGERS – 2013 93 BANKING/ INVESTMENT BANKING/ ADVISORY

Motlatsi is a Director and Head of the Africa Desk for Global Multinational Corporates within Corporate Banking, based in New York.

Previously, he was a Director in Corporate & Investment Banking covering clients in the Telecoms, Media & Technology (TMT) sector at Absa Capital.

Motlatsi joined Absa in 2007 and later joined the TMT team where he was involved and led the execution of key transactions across various product areas. Motlatsi Mthimunye Barclays Prior to joining Absa, he was part of the Director corporate finance team at Deutsche Bank. Head: Africa Desk, Global Corporates – Americas

Nana is a Partner in Webber Wentzel’s Banking & Finance Practice. She focuses on general banking and finance and has specialist expertise in investment grade bilateral and syndicated funding, mezzanine funding, debt capital markets and preference share funding.

She has worked both locally and abroad and has experience working both on local and cross border transactions.

Nana Dlamini Webber Wentzel Partner

94 ABSIP GAMECHANGERS – 2013 Nazrien started her career at Deloitte in 1995, having served articles at Andersens. She was appointed to the Deloitte partnership in 2001 and was the former regional Business Unit Leader for Taxation Services in KwaZulu-Natal before accepting the national role to lead Deloitte’s Financial Services Tax Team in 2009.

Nazrien is a Member of the Income Tax Court of South Africa; and has previously served on the following boards: South African Institute of Chartered Accountants; Nazrien Banu Kader SAICA Eastern Region Taxation Committee; Deloitte Council of SAICA Eastern Region; SAICA Disciplinary Panel; and Association for Black Member: Executive Committee Securities & Investment Professionals. Head: Taxation Services

Neerasha is a Partner in Webber Wentzel’s Mergers & Acquisitions Practice.

She specialises in mergers and acquisitions, general commercial law, insolvency, general commercial aviation (including aircraft leasing and sales, jurisdictional questionnaires and opinions) as well as aviation finance.

She has acted in numerous commercial and aviation transactions in South Africa.

Neerasha Singh Webber Wentzel Partner

ABSIP GAMECHANGERS – 2013 95 BANKING/ INVESTMENT BANKING/ ADVISORY

Nishen joined Rand Merchant Bank Corporate Finance after completing his training as a Chartered Accountant in 2004 with PricewaterhouseCoopers.

He transitioned into the Leverage Finance space following the merger of the preference share and acquisition finance business and the formation of the Investment Banking division in 2008. He currently co-heads Specialised Distribution and sits on the Investment Banking Division’s Board. Nishen Padayachee Rand Merchant Bank Nishen was awarded the Top Corporate Financier at the ABSIP Financial Services Co-Head: Specialised Awards in 2009. Distribution Solutions

Nishlan joined Investec in 2000 as an accountant with the consolidation team, and has grown to his current position of Head of Finance.

Prior to that, Nishlan worked for a short period within Group Finance at Sasol Chemical Industries. He completed his articles at KPMG Durban.

Nishlan Andre Samujh Investec Bank Limited Head: Finance

96 ABSIP GAMECHANGERS – 2013 Peggy-Sue has nine years banking experience with Investec Group. She joined Investec Bank UK in the Investec Asset Management division in 2004 as an Analyst with the Fixed Income Team.

In 2006, she returned to South Africa and joined Investec Corporate and Institutional Banking as an Investment Consultant within the Corporate Business Development division.

Peggy-Sue is a member of the South African Nonhlanhla Peggy-Sue General Management Forum of the bank. Khumalo Investec Bank Head: Public Finance

Praneel is the FirstRand Corporate Centre’s CRO with particular focus on risk within FirstRand Group Treasury which includes capital, liquidity risk for the group and market risk in the banking book.

Praneel has 15 years banking experience primarily within the FirstRand group covering banking and risk management.

During this time he has occupied various roles in middle and front office prior to entering the risk management area during Praneel Lachman the global financial crisis. FirstRand Group Treasury Chief Risk Officer – Corporate Centre

ABSIP GAMECHANGERS – 2013 97 BANKING/ INVESTMENT BANKING/ ADVISORY

Pravin joined Deloitte in 2002 as a Director. He started his career at Ginsburg Malan and Carsons in 1993 where he worked in the life and health division specialising in corporate actuarial work.

In 1997 Pravin moved to Hannover Re where he joined the actuarial services division before being promoted to head a portfolio of life reinsurance contracts. During 2000 Pravin joined NBC as a consulting actuary working on special projects. Pravin Burra Deloitte He moved to Southern Africa Actuarial Consultants in 2001 and when the Director: Capital Markets company joined Deloitte was made a Director.

Radesh is Sector Director for the State Owned Companies Sector within RMB’s Corporate Banking Coverage team.

He has been instrumental in setting up a separate sector focused team and strategy for state owned companies within RMB.

Having joined FNB in 1986, he specialised in Corporate Banking and served in various management positions within the FNB Corporate Banking environment. Radesh Ramlall Rand Merchant Bank Sector Director

98 ABSIP GAMECHANGERS – 2013 Rakesh currently serves on the Boards of Directors of the National Empowerment Fund and the KZN Growth Fund Managers. He serves on the audit committees of the Financial Sector Charter Council. He chairs the Audit and Risk Committees of both the NEF and KZN Growth Fund.

Business consulting services include strategic advisory services (capital structuring, financial strategy, M&A) to select mid-sized corporates.

Rakesh Garach He previously served as a Chief Operating Officer for Deutsche Bank in South Africa, as Independent Director and part of the BEE transaction completed with Business Consultant Utajiri Investments.

Raveen is Head of Africa and the Corridors Structured Solutions RMB. He is also Chairman of the Employment Equity Committee at RMB and is a member of Global Markets Proprietary Board and the FirstRand Heads of Employment Equity committee.

Previously, Raveen was Head of Global Markets Treasuries in India and London and has spent time in his career developing the Foreign Exchange Options Structured Solution area in RMB. Raveen Ramlakan Rand Merchant Bank He was Head of Financial Engineering at Standard Bank and spent time at Citibank Head: Africa and Corridor trading foreign exchange. Structuring

ABSIP GAMECHANGERS – 2013 99 BANKING/ INVESTMENT BANKING/ ADVISORY

Reagile is a registered Chartered Accountant with SAICA. He completed his articles with Deloitte in the Financial Services Institutions Team in 2005.

He then joined Investec Bank Limited in their structured finance division in which he has worked on a wide variety of transactions including Aviation, Commercial Property and Structured Lending both in South Africa as well as cross border.

Reagile is currently Head of Asset Finance Reagile Moatshe at Investec with responsibility for strategy, Investec Bank business development including origination Head: Asset Finance and execution of transactions

Rodney is a Partner in the Insurance & Legal Liability Practice at Webber Wentzel.

He specialises in legal liability, administrative and constitutional law, public-private partnership law, local Government law and land use planning and procurement.

He has extensive experience advising both public and private sector clients in these areas and has also represented clients in High Court litigation. Rodney Africa Webber Wentzel Partner

100 ABSIP GAMECHANGERS – 2013 Sabir is currently Head of Business Technology at Rand Merchant Bank. He is an information technology professional and has largely worked in the capital markets industry.

He started his career at Andersen Consulting (now Accenture), where he consulted on information technology and business strategy to financial markets participants.

He subsequently worked at FirstCorp Sabir Munshi Merchant Bank, Gensec Bank/Sanlam Rand Merchant Bank Capital Markets and over the last six years at RMB in various leadership roles mainly Head: Business Technology focused on information technology.

Safiyya is a Partner in Webber Wentzel’s Mergers & Acquisitions Practice and is an experienced commercial lawyer.

She has advised on mergers, acquisitions, joint ventures, company formations and reorganisations. She has also gained specialised expertise in broad-based black economic empowerment compliance generally and in specific sectors such as mining, financial services and construction.

Safiyya has developed specialised skills in Safiyya Patel media, telecommunications, broadcasting Webber Wentzel and IT law. Partner

ABSIP GAMECHANGERS – 2013 101 BANKING/ INVESTMENT BANKING/ ADVISORY

Sam is a Partner in the Mergers & Acquisitions Practice at Webber Wentzel.

He has extensive experience in general corporate and commercial law and specialises in general commercial transactions, empowerment transactions, mergers, acquisitions and management buy-outs.

Sam Gumede Webber Wentzel Partner

Sandile joined RMB in 2010, focusing on mining project finance. His focus is to grow RMB’s franchise as a strong financier of mining projects in the rest of the African continent.

Sandile began his career with AngloGold Ashanti as a metallurgical engineer in 1999 and became plant production manager in 2001. Thereafter he joined E+PC in 2003, the South African EPCM and project management company as a principal process engineer. Sandile Mbulawa Rand Merchant Bank Sandile joined International Finance Corporation in 2006 initially in Washington Senior Transactor DC for two years, and then in Johannesburg for two years.

102 ABSIP GAMECHANGERS – 2013 Sipho is a Partner in Webber Wentzel’s Africa Mining & Energy Projects Practice.

He specialises in general commercial law as well as mergers, acquisitions, empowerment transactions and corporate restructurings.

His expertise extends to competition law and tax.

Sipho Methula Webber Wentzel Partner

Sithembele joined RMB as a Bond Trader, and then moved on to trade Fixed Income Derivatives.

He also worked as Head of Trading for First Rand Bank on their Africa desk in Namibia. His responsibilities included setting up of the entire trading operations, including Fixed Income, and Currencies.

Sithembele previously worked at Nedbank as a Money Markets Dealer and later moved to the Asset Management Division Sithembele Manyadu to start a Money Market Fund, where he Rand Merchant Bank was awarded Nedbank’s prestigious Super Trader Gold Award.

ABSIP GAMECHANGERS – 2013 103 BANKING/ INVESTMENT BANKING/ ADVISORY

Snowy joined Absa in 2010 as Manager: Institutional Sales and was promoted to Head: Institutional Sales & Marketing (Asset Management) in 2011.

She started her career in Alexander Forbes as an Employee Benefits Consultant, and then moved to Stanlib to occupy a Portfolio Executive position.

After spending some time in Stanlib, she moved to Metropolitan Asset Management to take up a position as Manager: Business Snowy Masakale Development. Absa Head: Institutional Sales & Marketing – Asset Management

Sundeep has been at RMB for 12 years. He is the Co-Head of RMB’s Leveraged Finance Team, a position he has held for four years. Prior to joining the Leveraged Finance Team, he was a dealmaker in RMB’s Corporate Finance Team.

Sundeep spent several years in the actuarial environment at the Employee Benefits Divisions of Southern Life and later Momentum before joining RMB.

Sundeep Naran Rand Merchant Bank Co-Head: Leveraged Finance

104 ABSIP GAMECHANGERS – 2013 Sybil joined Regiments Fund Managers division in 2009 as part of the team that is responsible for the management of the debt redemption fund.

Her main responsibilities amongst the others include, overseeing the fund’s risk and investment management processes as well as, sourcing of new business and maintenance of existing client relationships.

Sybil was previously with the South Africa Post Office (2006-2009); Standard Corporate Sybil Kekana and Investment Bank (2000-2006); Regiments Capital PricewaterhouseCoopers (1996-2000); Rennies Travel (1993-1996); and Standard Chief Investments Officer Bank SA (1991-1993).

Sylvester started his career as a Financial Consultant at Investec, and moved to RMB as Head: Direct Investments, before joining Absa Investments, initially as Manager Business Development and then in his current role as Head: Investment Product Development.

He is a member of ABSIP as well as a member of IASSA (Investment Analysts Society of Southern Africa).

Sylvester Kgatla Absa Head: Investment Product Development

ABSIP GAMECHANGERS – 2013 105 BANKING/ INVESTMENT BANKING/ ADVISORY

Sylvester has been in the banking industry for 11 years, four of which at RMB in the Africa Sales team. He looks after all sales teams in the FirstRand SUBS (EX-SA).

He spent seven years at Standard Bank in different positions which included Trading, and Global Markets servicing financial institutions, focusing on Africa.

He built the East Africa portfolio and introduced the ACI dealing simulation and signed some of the first ISDA agreements in Sylvester Selepe the East African region. Rand Merchant Bank Head: Global Markets Africa Sales

Thabang is a Senior Manager at Deloitte with five years working experience within audit.

He completed his training contract with Deloitte in 2008, and spent his time within the Financial Services Team focusing on a variety of publicly listed and multi-national audit clients.

He sits on the Johannesburg board of the Association for the Advancement of Black Accountants in Southern Africa, Thabang Magare he also serves on the ABASA Leadership Deloitte Programme sub-committee. Partner (FIST)

106 ABSIP GAMECHANGERS – 2013 Thabang is a Partner in Webber Wentzel’s Africa Mining & Energy Projects Practice.

His primary areas of focus are mergers, acquisitions, capital markets, and general commercial and corporate law matters. He has specific expertise in the mining transactions.

He is a fellow of the Cyrus R. Vance Centre for International Justice (New York City Bar).

Thabang Masingi Webber Wentzel Partner

Thevendrie served as a Vice President of Investment Banking at Deutsche Bank and is currently a Director at Rothschild.

She has been involved in a number of landmark transactions in the South African financial services sector and has a wealth of experience in corporate finance.

She currently focuses on strategic initiatives for Rothschild and has served as an Independent Non-Executive Director of Netcare Limited since 2011. Thevendrie Brewer Rothschild Director

ABSIP GAMECHANGERS – 2013 107 BANKING/ INVESTMENT BANKING/ ADVISORY

Tomi joined Investec Corporate Finance in 2007 after complete his articles with Deloitte, Cape Town. He has advised on numerous transactions for large South African and Sub-Saharan African corporations, in South Africa, Nigeria, Tanzania, Botswana, Namibia amongst others.

Tomi is currently part of the team responsible for growing Investec’s Investment Banking advisory capabilities outside South Africa. He is also a Member of Tomi Amosun the Employment Equity Forum at Investec, Investec and a Fellow of the Archbishop Desmond Tutu Leadership Institute (2010). Corporate Finance

Trurman first worked as an equity analyst for Old Mutual Asset Managers. He then moved to Standard Bank as a private equity dealmaker and then as Unit Trust Single Manager Head at Stanlib Investments Limited.

In 2006, he left the corporate environment and spent three years as an entrepreneur in diverse industries. In 2009, he was appointed as chief executive officer of Advisory Services at Momentum Wealth, and ran the local and London based retail Trurman Zuma multi management businesses for MMI. Absa Group In 2011, he was appointed to head up Head: Global Research and Global Research and Investment Africa for Investments Africa Absa Group.

108 ABSIP GAMECHANGERS – 2013 Vuyelwa joined Deloitte in 2009 and was appointed as a Deloitte Partner in 2013. She focuses on audit and advisory services for banking institutions in South Africa and public sector clients with Treasury departments.

Vuyelwa has gained valuable exposure to large banking institutions, specifically unsecured lending and vehicle asset finance, and metropolitan municipalities as the lead manager on African Bank Limited, City of Johannesburg Treasury Vuyelwa Sangoni and WesBank. Vuyelwa also served as the Deloitte Chairperson of the Johannesburg branch Partner (FIST) of the Association for the Advancement of Black Accountants of Southern Africa from 2010 to 2012.

Winston joined Absa in 2013 as Head of Sales and Distribution for Absa Wealth Management. He sits on the Wealth Management Exco and is responsible for co-ordinating national sales efforts.

Winston has a diverse investment background with work experience as a Sell Side analyst (IT and Retail), M&A advisor and as an Equities Salesman with various domestic and international companies.

Most recently Winston was at Bank of Winston Monale America Merrill Lynch (BAML) for eight Absa years where he was the Director heading up Emerging Market Equity sales in South Head: Sales and Distribution Africa, occupying a Board seat and member of the Executive Leadership Team.

ABSIP GAMECHANGERS – 2013 109 BANKING/ INVESTMENT BANKING/ ADVISORY

Xolani is a Partner in the Mergers & Acquisitions Practice of Webber Wentzel. He specialises in mergers, acquisitions and black economic empowerment transactions.

Xolani also has experience in financing transactions ranging from general banking facilities to limited or non-recourse financing. His expertise extends to stock exchange and securities regulation, corporate and project finance and general commercial law. Xolani Hlatshwayo Webber Wentzel He has acted in many of the largest Partner corporate transactions done in South Africa in recent years.

Yolanda joined Deutsche Bank in 2002 as part of its Graduate Programme. She then joined the Financial Research team as assistant to the banking analyst and in 2004 started providing coverage of small cap financials.

After building her career as a Equities Research Analysts, she changed her focus to Equity Sales in 2006.

She focused on the international market for four years, operating out of Deutsche Yolanda Miya Bank’s London office. Upon her return, she Deutsche Bank brought her experience to the SA Equity Sales Desk and was promoted to Co-Head Co-Head: Equity Sales in 2011.

110 ABSIP GAMECHANGERS – 2013 Yuresh joined Deloitte in 1999 and was appointed a Partner in 2006. He has worked with insurance clients for the last ten years. As insurance country leader, Yuresh supports the country’s financial services strategy.

He specialises in providing audit and consulting services to both life and non-life insurers, pension funds and the banking industry. In addition Yuresh has a strong understanding of the insurance distribution channels for individual and corporate Yuresh Maharaj business. Deloitte Partner He has been involved in various IFRS implementation projects including the adoption of IFRS IV Insurance Contracts.

Yvette is the Public Policy and Regulatory Affairs Executive for the FirstRand Group, and its operations outside South Africa. She is a member of the FirstRand Executive Committee and a permanent invitee to the FirstRand Audit and Risk, Capital and Compliance Committees.

Formerly the Deputy Registrar of Banks at the South African Reserve Bank, she holds a distinguished record of managing the safety and soundness of the SA Banking sector during the Global Financial crisis. Yvette Singh FirstRand She has wide ranging banking experience, Public Policy and Regulatory including corporate banking prior to her Affairs Executive joining the South African Reserve Bank.

ABSIP GAMECHANGERS – 2013 111 BANKING/ INVESTMENT BANKING/ ADVISORY

Zeenat is a Partner in Webber Wentzel’s Mergers & Acquisitions Practice. She specialises in mergers and acquisitions across various sectors including mining.

Other areas of practice include corporate and commercial law, black economic celebrating empowerment law and consumer protection law. transformation Her expertise extends to regulatory law, particularly with respect to managed and occupational healthcare, medical Zeenat Dasoo schemes and pension funds. Webber Wentzel Partner She has special knowledge of the National Industrial Participation Programme obligations.

Ziyanda is a Partner in Webber Wentzel’s Mergers & Acquisitions Practice.

She has extensive experience in general corporate and commercial law and has Making a difference throughsupporting assisted clients with mergers, acquisitions, reorganisations, private equity transactions infrastructure development, enhancing and leveraged buyouts. efficiency and enabling service delivery in the public sector

Ziyanda Ntshona Customised strategic and Webber Wentzel Partner financial solutions

www.regiments.co.za | 011 715 0300

Regiments Capital (Pty) Ltd is an authorised financial services provider: FSP 16831 112 ABSIP GAMECHANGERS – 2013 celebrating transformation

Making a difference throughsupporting infrastructure development, enhancing efficiency and enabling service delivery in the public sector

Customised strategic and financial solutions

www.regiments.co.za | 011 715 0300

Regiments Capital (Pty) Ltd is an authorised financial services provider: FSP 16831 GOVERNMENT/ SOE/ DFI

Barbara has been an HR Practitioner for the past 20 years, having worked as an industrial relations officer, resourcing specialist, HR development specialist, and talent management and HR generalist. In 2001, she moved out of HR to manage a division of a telecommunications network.

Barbara has worked for local and global companies including Alexander Forbes, JP Morgan, Telkom SA, British Telkom, De Beers, Barclays and Standard Chartered Bank.

Barbara Lebogang She was a non-executive director at Lombard Johannesburg Theatre, Pro Musica, and Soweto Theatre. Barbara is currently a non- NEF executive director at Piotrans, Metrobus Corporate Services Executive and BRT Rea Vaya.

Daniel Mminele is a Deputy Governor of the South African Reserve Bank.

He shares the position with Francois Groepe and Lesetja Kganyago. He has worked at the Reserve Bank in various positions since 1999.

Daniel Mminele South African Reserve Bank Deputy Governor

114 ABSIP GAMECHANGERS – 2013 An economist by training, Mmakgoshi spent almost four years at the World Bank as South Africa’s representative on the Board of the World Bank Group.

Her current role is that of overseeing Government’s engagement and relationship with multilateral and regional development finance institutions such as the World Bank, the African Development Bank, as well as institutions such as the International Monetary Fund and the OECD. Elizabeth Mmakgoshi Phetla-Lekhethe She is also responsible for government’s National Treasury participation in the G20 and was part of Deputy Director-General: the team of negotiators to the 2010 G20 Leaders Summit in Seoul, Korea. International and Regional Economic Policy

From a career in research and policy analysis, including five years in policy development, monitoring and evaluation at the National Electricity Regulator South Africa, Fundi joined National Treasury in 2003 as Director: Microeconomic Policy.

She later took over the responsibility as Chief Director: Microeconomic Policy in 2006 and subsequently Chief Director: Regulatory Impact Analysis in 2008.

Fundi also serves as a part time Fundi Tshazibana Commissioner of the International Trade National Treasury Administration Commission of South Africa Deputy Director-General: and is a board member at Trade and Economic Policy Industrial Policy Strategies.

ABSIP GAMECHANGERS – 2013 115 GOVERNMENT/ SOE/ DFI

Hlengiwe is currently Divisional Executive: Venture Capital and Corporate Finance at the National Empowerment Fund, a position she has held since 2011. She joined the NEF in 2005 as an Investment Associate and in 2006 was appointed to head the new Pre-Investment Department. In 2009 she was appointed to head the uMnotho Fund.

Hlengiwe’s previous experience includes Investec Bank, and Standard Bank Retail Division. Hlengiwe Makhathini NEF She is a director of Air Traffic and Divisional Executive: Venture Navigation Services and chairs the Audit Capital and Corporate Finance and Risk Committee of the same company. She is also a director of Ladvest Investments (Pty) Ltd.

Lesetja is a Deputy Governor of the South African Reserve Bank.

He shares the position with Daniel Mminele and Francois Groepe. Kganyago has previously served as Director-General for the National Treasury.

Lesetja Kganyago South African Reserve Bank Deputy Governor

116 ABSIP GAMECHANGERS – 2013 Lungisa joined National Treasury in 1998 where he rose through the ranks to become Head of Intergovernmental Relations.

In 2008, Fuzile took on the position of Deputy Director-General in the Asset and Liability Management division.

His primary responsibilities include managing the department, the national budget, managing government’s financial assets and liabilities, overseeing accounting policies and standards, regulating Lungisa Fuzile public sector procurement, developing National Treasury appropriate fiscal policy and financial management, and improving financial Director-General management.

Luyanda started his career as a systems developer with Unilever in 1997. He has held a number of management positions within the IT discipline within a number of financial services organisations.

In 2009, he was appointed Chief Information Officer of Ithala Development Finance Corporation. He then joined the PIC as Chief Technology Officer in 2012, after a period heading up Technology Operations of an internet service provider.

Luyanda Ntuane Luyanda has delivered on a vast array of Public Investment Corporation initiatives that range from strategic business transformation projects, to technical Chief Technology Officer delivery of commercial data centres and ICT networks.

ABSIP GAMECHANGERS – 2013 117 GOVERNMENT/ SOE/ DFI

Matshepo joined the PIC as a Financial Manager in 2009. She was later appointed as Senior Manager Finance for PIC’s Property division.

Her major career highlight was when she got promoted to the position of the Chief Financial Officer and Executive Director in 2011 and 2012 respectively. The key responsibilities of her current role involve steering the corporation towards correct financial decisions.

Matshepo More Prior to joining the PIC she worked for Public Investment Corporation Deloitte & Touche where she gained her audit experience which mainly focussed Executive Director on banking, insurance and private equity sectors.

Nkosana is responsible for the overall supervision and regulation of registered local and international banks in South Africa.

Previously he worked for National Treasury in various roles which included a position as Chief Director for International Finance and Development. He was also Chief Director for Financial Sector Policy; and served as the Chief Director for Banking Development and Financial Access in the National Treasury. Nkosana Mashiya South African Reserve Bank He was the chairperson of the Financial Sector Charter Council from 2008 until he Deputy Registrar of assumed office as Deputy Registrar in 2011. The Office for Banks He was also Managing Director of the Cooperative Banks Development Agency.

118 ABSIP GAMECHANGERS – 2013 Thuto is responsible for cash management, debt management and funding programmes of national government, and financial oversight over state-owned companies.

He serves on the Reserves Management Committee of the South African Reserve Bank.

Prior to his appointment as the Deputy Director-General in 2011, Thuto was Chief- Director of the Liability Management unit Thuto Shomang responsible for funding in domestic and National Treasury international financial markets, and investor Deputy Director-General relations. His previous roles in the National Treasury include Country Risk (maintaining relations with credit rating agencies) and Revenue Estimation.

Zulu Xaba started his career as a lecturer in Applied Mathematics at the University of Fort Hare, from 1986 to 1992. He held a position of Senior Risk Manager at SAFEX in 1998 prior to joining Eskom.

He spent over eleven years at Eskom in Treasury part of which he served as a Risk Assessment Manager and a Corporate Consultant (Treasury), where he played a major role in valuation model development, valuations of financial instruments and quantitative risk analysis of Treasury Dr Zulu Xaba strategies. Public Investment Corporation Chief Risk Officer He joined the Public Investment Corporation in 2010 as General Manager: Risk and Compliance.

ABSIP GAMECHANGERS – 2013 119 Entrepreneurs

“Entrepreneurship is the single most important activity in our economy. It is the only activity that enables enterprising South Africans to apply their mind to create new value, new wealth, new money and new jobs. Without it we are simply sucking dry the value that was created by entrepreneurs past.” ~ Henk Kleynhans

All the greatest countries in the world have a culture of entrepreneurship, which stimulates economic growth and development. The United States is a prime example of this, as is India, where people are coming up with creative businesses that bring value to the market while providing an income.

One thing that all the great minds in the South African financial services industry agree on is the importance of entrepreneurial development for the health of our economy. Local manufacturing and service delivery are clearly the way forward to lasting empowerment.

The following chapter highlights the top black entrepreneurs in the industry, who are constantly finding ways to improve and innovate financial services, thereby playing a major role in true and sustainable transformation for all South Africans.

Socially, entrepreneurship empowers citizens, generates innovation and changes mindsets. This always increases our potential to successfully integrate developing countries into the global economy, which is exactly what our list of top entrepreneurs are doing.

120 ABSIP GAMECHANGERS – 2013 ENTREPRENEURS

Fatima is the founder and Managing Entrepreneurs Director of 27four Investment Managers, a multi-manager focused on the provision of innovative product solutions for retirement funds and individual investors.

She started her career as a lecturer at the University of Witwatersrand in 1995. She previously worked at Standard Corporate and Merchant Bank, Peregrine Securities and Legae Capital.

Fatima’s accolades include the 2009 Fatima Vawda ABSIP Entrepreneur of the Year, 2011 Africa 27Four Investment Management Fund Manager Award for Outstanding Achievements, as well as 2012 ABSIP Award Managing Director for Emerging Women Owned Company in Financial Services.

Gloria is a founding member and Executive Director of WIPHOLD and Chief Executive Officer of Wipcapital.

Her professional experience includes positions at Exxon Corporation in the USA, Munich Reinsurance Company of SA, the Premier Group and Standard Corporate and Merchant Bank.

She was also the Executive Director of Finance at Transnet Limited and was a member of the Transnet Board and its Gloria Serobe major subsidiaries. She serves on several WIPHOLD Boards including Old Mutual, Nedbank, Hans Merensky and Sasol Mining. She is the Founder Chairman of the Board of the Independent Ports Regulator.

ABSIP GAMECHANGERS – 2013 121 ENTREPRENEURS

Itumeleng is the co-founder and Chief Executive Officer of Sphere Holdings. He represents Sphere as chairman and director of several of the businesses in which Sphere has invested.

Prior to co-founding Sphere, Itumeleng spent several years in investment banking in London and Johannesburg and was Vice-President of Citi’s Investment Banking Division. He is an Independent Non- Executive Director of Old Mutual Investment Group, and Telkom SA Limited. Itumeleng Kgaboesele Sphere Holdings Itumeleng is passionate about education Chief Executive Officer and is a trustee of the Student Sponsorship Programme, and the African Leadership Academy.

Jolly is a Certified Director (IODSA), professional independent retirement fund trustee and runs Mokorosi, a consultancy focusing on financial services.

She has previously served as Executive Principal Officer and Acting Chief Executive Officer of the Municipal Councillors Pension Fund, as well as director on the boards of Cubisol Holdings Limited and Rebecca’s Well Projects, a registered NGO.

Jolly currently serves as a trustee on Jolly Mokorosi the boards of umbrella retirement Mokorosi Financial Consulting funds sponsored by Moriting Wealth Managing Director Management Pty (Ltd) (Chairman) and MMI Holdings, as well as on a number of boards. She is Chairman of the RFLIPF Investment Subcommittee.

122 ABSIP GAMECHANGERS – 2013 Regiments Capital was established in 2004 by Litha and his existing partners.

The Regiments Capital team makes a difference through supporting infrastructure development, enhancing efficiency and enabling service delivery in the public sector.

In addition to his responsibilities at Regiments Capital, Litha is also a Non- Executive Director serving on the boards of Kumba Iron Ore, Worldwide African Litha Mveliso Nyhonyha Investments, Psitek, AECI Chemical Group, Regiments Capital Sovereign Foods as well as being the Chairman of Plessey Telecommunications. Executive Chairman

Modise is the Chief Executive of Quartile Capital (Proprietary) Limited. Modise is also a director of Rand Merchant Bank Structured Insurance, Deutsche Bank Securities SA (Proprietary) Limited, Land Bank, and the Small Enterprise Foundation.

ABSIP GAMECHANGERS – 2013 123 ENTREPRENEURS

B.Proc (UNISA) LLM (UNISA) Higher Diploma in Company in Law (Wits) Higher Diploma in Tax Law (Wits) Diploma in Human Rights (RAU)

Attorney of the High Court of South Africa since 1982.

Executive Development Programme in Strategic Management: Graduate School of Management and Urban Policy (New York, New York). Nano Abram Matlala Maluleke Seriti Makume Matlala Incorporated Chief Executive Officer Head: Corporate and Commercial Department

Ndaba’s roles come as part of his rapidly expanding portfolio which began with the co-founding of Pamodzi Property Development in 1979.

In 1996 he co-founded Pamodzi Investment Holdings and holds numerous senior board positions, mostly in Pamodzi’s portfolio companies.

He is chairman of Pamodzi Resources Fund Advisors, Pamodzi Resources, and Rand Uranium. Ndaba is also Chairman of Ndaba Ntsele Pamodzi Industrials, and is a director on the Black Business Council Board of Anglo Inyosi Coal. President and Founder of Pamodzi Investment

124 ABSIP GAMECHANGERS – 2013 Nkululeko serves as the Non-Executive Co-Chairman of Kagiso Tiso Holdings; is a Member of the Investment Committee of Tiso Private Equity Fund II and Tiso Private Equity Fund I.

He also serves as the Chairman of Idwala Industrial Holdings (Pty) Ltd; Idwala Holdings (Pty) Limited; Home Loan Guarantee Company; and the Financial Markets Trust.

He has been the Chairman of the Board of Litha Healthcare Group Limited since 2012, Nkululeko Sowazi and its Non-Executive Director since 2010. Kagiso Tiso Holdings Nkululeko currently holds various positions Non-Executive Co-Chairman on a number of boards.

Nthabiseng is the Founder and Principal of MMCP Financial Services, focusing on SME Fund Management, Corporate Finance Advisory and Financial accounting.

She was previously Financial Director of Moche Mokone Capital Partners, and Landomed. Prior to that she was Head of the Private Equity Fund and Head of Amabubesi Health Services.

Nthabiseng started her career in 1996 when she joined Transtel, a division of Transnet. Nthabiseng Dinah Mokone MMCP Founder and Principal

ABSIP GAMECHANGERS – 2013 125 ENTREPRENEURS

Peter is the Founder and Group Chief Executive Officer of Amabubesi. He is also the Chairman of Vodacom; former Chief Executive Officer of Alexander Forbes; and Deputy Chief Executive Officer of Old Mutual.

He currently sits on various boards.

Peter Moyo Amabubesi Founder and Group Chief Executive Officer

Thabiso is the Founder, Non-Executive Director and Chief Executive Officer of the Don Suite of Hotels – the only black owned and managed hotel group listed on the JSE Securities Exchange, with hotels in Cape Town, Johannesburg, Sandton and Pretoria.

He is an experienced hotelier who assumed control in late 1999.

He is a Director of Amabubesi.

Thabiso Tlelai Don Suite Hotels Chief Executive Officer

126 ABSIP GAMECHANGERS – 2013