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 said it 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."