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VUN
VUN
VUN - Vunani Limited - Vunani sets up Zimbabwe advisory business and
wins its first mandate
VUNANI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/020641/06)
JSE code: VUN
ISIN: ZAE000110359
("Vunani" or "the company")
VUNANI SETS UP ZIMBABWE ADVISORY BUSINESS AND WINS ITS FIRST MANDATE
Vunani today announced that it has established a new business in
Zimbabwe called Vunani Capital Zimbabwe, in partnership with Andrew
Mari. Vunani Capital Zimbabwe shall provide corporate advisory and
investment services to its clients in Zimbabwe and South Africa.
Vunani Capital Zimbabwe is owned 49% by Vunani. The balance of the
shareholding shall be owned by Andrew Mari and warehoused for employees
and other local Zimbabwe investors.
Andrew Mari is a Zimbabwean citizen and until recently has been running
his own advisory and investment business in Zimbabwe. Previously, he
ran a corporate and project finance boutique in South Africa. He is a
seasoned investment banker, having moved to South Africa in the early
1990s to join UAL Merchant Bank. Andrew has been appointed the Chief
Executive Officer of Vunani Capital Zimbabwe and will be based in
Harare, Zimbabwe.
Vunani is also pleased to announce that Vunani Capital Zimbabwe has
been engaged to provide financial advisory services to the National
Indigenisation Economic Empowerment Board ("NIEEB"). The NIEEB has been
established by the Government of Zimbabwe to facilitate and implement
empowerment transactions in that country.
Ethan Dube, Vunani CEO commented "We are very pleased to welcome Andrew
to the Vunani Group and our partnership with him to build an advisory
and investment capability in Zimbabwe. The indigenisation and
empowerment process in Zimbabwe presents an opportunity to Vunani to
advise our clients in South Africa and elsewhere on commercially
acceptable solutions to indigenisation requirements in that country.
We are well versed with empowerment deal structuring and capital
raising in South Africa and would like to utilise this experience in
playing a meaningful role in Zimbabwe."
For further information, please call:
Enquiries:
Vunani Limited: Ethan Dube 011 263 9500
Vunani Limited: Butana Khoza 011 263 9500
Vunani Capital Zimbabwe: Andrew Mari 083 251 5251 +263 779 043 026
College Hill: 011 4473030
Morne Reinders: 082 815 1844
Sandton
9 September 2011
Independent Designated Adviser
Grindrod Bank Limited
Joint Designated Adviser
Vunani Corporate Finance
Date: 09/09/2011 12:20:02 Produced by the JSE SENS Department.
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