By Andrei Skvarsky.
Russian-owned investment bank Renaissance Capital has made two senior appointments for its South African operation, hiring Funeka Beja-Maseko from Japan’s largest bank MUFG as retail trade analyst and Andrew Nkumbula from South African bank Absa as head of investment banking.
Beja-Maseko will monitor the activities of South African retail companies and report to Johann Pretorius, head of research for Africa, according to a statement from RenCap, which does business in emerging and frontier markets across the globe with Africa being a key part of its geography.
Nkumbula, who has received the position of vice-president of RenCap, will oversee business both within and outside South Africa. He will report to Risana Zitha, head of investment banking for Africa.
Both Beja-Maseko and Nkumbula will be based at RenCap’s office in Johannesburg.
Beja-Maseko was head of research for Africa at MUFG, a role that involved looking for investment opportunities in sub-Saharan Africa and developing macroeconomic country ratings.
Before joining MUFG, she was retail sector analyst at Citigroup.
Besides her regular work, Beja-Maseko has worked pro bono as a mentor.
Nkumbula’s specialism at Absa, where he rose to the position of vice-president, was corporate finance and investment banking. Before joining the South African lender, he held a seven-month-long London-based job with Barclays, whose African operations merged with Absa in 2013.
“Renaissance Capital’s research team,” said Pretorius, “covers more than 120 stocks in Africa, of which more than a half are from South Africa.”
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