V G 2 013 MECHANGERS BLACK BOOK R19.99 MARKET DEMAND STRATEGY PRETTY AWESOME 2205 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 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 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.