Vunani is an independent black-owned and managed diversified financial services group that is unique within the South African operating context. The owner-managed culture is complemented with an entrepreneurial passion. Vunani has successfully built a strong financial services platform with a diverse financial-service product offering.
The development of Vunani Limited, has taken place in three distinct phases: inception, platform building and expansion.
Vunani Limited began as a wholly owned subsidiary of African Harvest Limited in 1997. By 2001 the company had established offices in Johannesburg and Cape Town with four divisions focused on private equity, hedge fund management, structured finance and corporate finance.
In early 2002 the senior executives of Vunani Limited began a buyout process covering all of African Harvest's operating businesses including African Harvest Fund Managers. This buyout was supported by the Metallon Group, who retained ownership of African Harvest Fund Managers when the buyout was completed in 2004.
In July 2005 ABSA acquired a 20% interest in the company through a share subscription. Vunani Limited listed on the JSE Ltd's AltX Exchange in late November 2007, raising R175 million. The capital raised through these transactions provided the company with the means to expand its operations and build a diversified financial services platform.
Through the acquisition of a number of additional operating businesses from as early as 2008 including asset management, treasury and corporate finance specialists, Vunani complemented the existing serive offering, resulting in a diversified financial services platform.
The focus of the Group is now to expand its customer base using the three business units that make up this platform (asset management, investment banking and property).