Managing Director / Strategy
Qualifications – B Com, B Com (Hons) and M Com (Economics) – cum laude
Tel: +27 21 481 6200
Johan Rossouw, Group Economist of the Vunani Group, has been a professional Economist since 1988. He has been involved in financial markets since 1996 and has been a rated analyst in both Economic Trends and Fixed Interest Research for many years. Johan has extensive experience, primarily as a Sell-Side Analyst, but has also managed domestic bond, money market, as well as international portfolios as an employee of a domestic asset management company. He held the position of Chief Economist and Strategist at various stockbroker companies such as ABN Amro Securities (Pty) Ltd. He also assumed various managerial positions and is currently the Managing Director of Vunani Securities (Pty) Ltd.
Head of Research/Equity Analyst (Platinum)
Qualifications – B Sc, B Sc (Hons), GDE (Wits)
Tel: +27 11 384 2912
Hurbey's working career started at Union Corporation, followed by The Minerals Bureau General Mining, E W Balderson Inc., ABSA Securities and SG Securities. Hurbey was rated in 1999 and 2000 in the Gold sector, as well as being rated in 2002 in the Platinum sector. He decided to take a break from the corporate world at the end of 2002 in order to pursue his creative interests and establish a ceramic studio, which is currently still in operation. He then joined Kagiso Securities in 2010 as a Mining Analyst, covering platinum. Hurbey joined Vunani Securities in December 2010 with the acquisition of Kagiso Securities and is currently the Head of Research and the Platinum Analyst at Vunani Securities.
Equity Analyst (Small Caps/Food Producers)
Qualifications – ONC (Electrical Engineering), HND (Business & Finance)
Tel: +27 21 481 6200
Anthony started his career as a qualified Electrical Engineer before gaining a Business & Finance HND from Cambridge. Entering the stock market initially in 1991 with Laing & Cruickshank Investment Management (Private clients), he joined Astaire & Partners in London in 1994 as an Equity Salesman, servicing a European institutional client base, trading in some 22 markets – the main one being South Africa. Recruited from London by Standard Equities as an Analyst in 1996, Anthony moved to Johannesburg where he covered Small Caps and the Engineering & Construction sector. In the ensuing years he worked within Investment Management, at Gensec/Sanlam from 1997, before moving back into Equity Sales at Nedcor Securities in 2001. In 2005 he was recruited by Barnard Jacobs Mellet as an Equity Salesman and also re-established himself as a Small Cap Analyst. Anthony joined Vunani Group in 2008, working as a Corporate Broker and more recently at Vunani Securities as a Small Cap Analyst. He has gained Financial Mail ratings in both Equity Sales and Small Cap research over the past ten years and is currently the top-rated Small Caps analyst in South Africa.
Equity Analyst (Diversified Industrials)
Qualifications – B Bus Sci (UCT), MA (Economics) (UCT), MBA (Henley)
Tel: +27 11 384 2916
Before his career in the financial markets, Arnold was involved in corporate planning as well as economic and marketing research in public companies Edgars Stores, AECI and PG Bison. He was Deputy Director of the Clothing Federation of South Africa from 1991 to 1994. From 1995 to 2002 he worked as an Equity Analyst at Fergusson Bros, Investec Securities and Societe-Generale. His areas of specialisation included Small and Medium Capitalisation Stocks (rated 5 in 1999 and 4 in 2001). Arnold joined Kagiso Securities in 2003 where he founded the Equity Analyst Training Programme. He moved across to Vunani Securities in December 2010 with the acquisition of Kagiso Securities. He is currently a Senior Equity Analyst covering Diversified Industrials (rated 5 in 2012) and he heads the Vunani Training Academy. Since 2004, Arnold has been involved in the training and development of more than 20 equity analysts.
Equity Analyst (Information Technology)
Qualifications – B Sc Engineering (Electrical) – cum laude (Wits)
Tel: +27 83 325 7799
Irnest is experienced in equity valuation, financial forecasting and business modelling. He is a CFA charter holder and was rated in the IT sector (Financial Mail Analyst Rankings Surveys) for 7 consecutive years from 2006 to 2012. He has been analysing the Technology sector as a Sell-Side Analyst for 10 years. His first few years as an analyst were served at Societe Generale, researching the Telecoms sector. Prior to that, Irnest spent 6 years working in the IT sector, mainly for Internet Solutions, a Dimension Data subsidiary. He also worked for Andersen Consulting (now Accenture) as a Strategy Consultant. Irnest started his own research and consultancy business in 2003, analysing technology companies and performing various consulting services for selected technology companies. He was previously consulting for Kagiso Securities, but with the acquisition of Kagiso Securities in December 2010 he now consults to Vunani Securities as a Technology Analyst
Noluthando completed her BSc in Geological Sciences in 2010 and her BSc honours degree in 2011 at the University of KwaZulu Natal. During her time at university, Noluthando was a member of the golden key society, the top 1% of students at the university, and selected by Eskom to do vacation work throughout her degree at the Ingula Pumped Water Storage Scheme. In 2012, Noluthando started working at Kalgold Mine a Harmony Gold open pit operation in Mafikeng as a trainee geologist. In 2012, she moved onto Royal Bafokeng Platinum where she worked as a graduate geologist and was soon appointed Section Geologist. In 2015 Noluthando started her career in the financial sector as a junior metals and mining analyst at Arqaam Capital, a broker from Dubai, covering local and international gold and platinum companies. Noluthando joined Vunani Securities in May 2016.
Equity Analyst (Retail)
Qualifications – Bcom (Hons) Economics (University of Pretoria), Advanced Certificate in Emerging Markets and Country Risk Analysis (Fordham University), Bcom Economics (cum laude) (University of Pretoria)
Tel: +27 11 384 2905
I completed both my undergraduate and honours degrees in Economics from the University of Pretoria in 2014 and 2015 respectively. I graduated with cum laude for my undergraduate degree. During my honours year, I was awarded a scholarship to study a short, intensive course in Emerging markets and country risk analysis with Fordham University in New York. During my academic years, I got exposed to companies like Coca-Cola Shanduka Beverages and Shanduka where I served as an intern, with exposure to creditors and debtors accounts. Prior to joining Vunani Securities, I was part of the South African Reserve Bank Cadet programme, where I was a trainee in the Economic Research Department under the Capital flow markets division. Currently, I am working for Vunani Securities as a trainee equity analyst in the retail sector.
Equity Analyst (Mining)
Qualifications – Bcomm Economics and Applied Economics (University Of KwaZulu-Natal), Bcomm Honours (Economics) (University Of KwaZulu-Natal)
Tel: +27 11 384 2938
Before Joining Vunani Securities I worked as a management consultant at Knox Darcy Management Consultant from September 2015 to January 2016 specialising in company performance improvement through workflows redesigning. Prior to that I worked as a trainee economic analyst at Shanduka Resources from 2014 – 2015 covering PGMs, coal and gemstones stocks as well as mining sustainability issues. I also served as a head research tutor at the University Of KwaZulu-Natal Writing Place from 2012- 2013 responsible for supervising research and providing writing coaching. I then joined Vunani Securities on 1 February 2016 as a trainee equity research analyst covering coal mining securities.
Trainee Equity Analyst
Qualifications – B Com (Economics & Finance)
Tel: +27 11 263 9500
Anda obtained her BCom Economics and Finance from University of Cape Town in June 2016. She is due to complete her Bcom Honours in Financial Analysis and Portfolio Management in June 2017. During her undergraduate final year at UCT, she was nominated by Allan Gray as a top performing EDU final year graduate. Before joining Vunani, she worked at Standard Bank as a Young Talent Graduate Co-ordinator from February 2016. Anda then joined Vunani Securities in February 2017 as an Equity Research Trainee.
Trainee Equity Analyst
Qualifications – B Com
Tel: +27 11 263 9500
Shirley obtained both her Undergraduate (2014) and postgraduate (2015) degrees in commerce from the University of the Witwatersrand. During her studies, she was awarded a postgraduate merit scholarship by the University of the Witwatersrand as well as a postgraduate scholarship by the Rothschild SA Foundation. Shirley was also jointly awarded for having the best research paper presentation at the annual Wits Business Science Postgraduate Conference. She then joined Accenture South Africa as a Management Consulting Analyst within their Financial Services division in 2016. Shirley then joined Vunani in February of 2017.
Head of Equity Trading
Tel: +27 11 263 9546
Jonathan started his stockbroking career in 1987 as a Portfolio Manager at Max Pollak and Freemantle. From 1991-1994 Jonathan was a Director and Divisional Head of the Equity Division at Boner and Freemantle. He Joined Investec Bank in 1994 and was part of a team that was responsible for setting up and running the Securities business for Investec Bank. Jonathan was a Director of Investec Securities and looked after Institutional, Corporate and High Nett worth clients. In 2003 he joined Consilium Securities and worked at Consilium until joining Vunani Securities in June 2015, where he is currently the Head of Equity Trading.
Senior Equity Trader
Tel: +27 11 784 3077
Anthony joined Vector Securities in 1999 in their Bonds Administration Division. Thereafter he moved on to the Trading Desk as a Junior Dealer. In 2006 Anthony was appointed as Senior Equity Dealer at Vunani Securities. He also completed a sales course through Dale Carnegie and leadership training through Wits University.
Senior Equity Trader
Tel: +27 11 784 3077
Oupa Madonsela started his working life as a Mathematics teacher in 1997 at Gauteng Youth College in Pretoria. He joined Liberty Life in 1999 as a financial advisor until February 2004. In March 2004, Oupa joined PSG Online Securities as an Equities Trader and later as a CFD dealer. In 2006 he joined Consilium Capital (Pty) Ltd as an Institutional Equity Trader. In 2007, he became a member of the South African Institute of Stockbrokers. In 2009, he was appointed an Executive Director at Consilium Securities. He was appointed Stockbroker-in-Control and Equity Derivatives Compliance Officer at Consilium in 2012. He helped establish Maru Asset Managers in 2013 where was Executive Director responsible for operations. He joined Vunani Securities in June 2015. He completed the Programme in Investment Analysis and Portfolio Management with UNISA in 2003, and the Diploma in Investment Analysis and Portfolio Management with the University of Johannesburg in 2008. He holds an undergraduate degree in Education and a B Ed (Hons) degree from Wits University. He also completed a B Com (Hons): Business Management with UNISA in 2014.
Senior Equity Trader
Tel: +27 11 784 3077
Meshack has been has 15 years' experience of trading. He is a highly skilled trader with extensive knowledge of financial markets. He is a focused, analytical and quick thinking financial professional with strong communication skills and ability to comprehend, translate and act upon market fundamentals and breaking news. Before joining Vunani Securites, he was a senior trader at Sinayo Securities (Constant Capital) for almost three years. He has also worked as a trader at Tlotlisa Securities (Pty) Ltd from 2006 until 2008, Legae Securities from 2004 to 2006 and Sanlam Capital Markets from 2001 to 2003.Meshack has holds a BSc in Statistics from the University of Cape Town.
Senior Derivative & Equity Trader
Tel: +27 11 784 3077
Kamal obtained a BCom Investment Management Degree from the University of Johannesburg in 2006. In 2007 he started working at Afrifocus Securities as an Equity and Derivatives trader on the private client's desk. He then moved to the Institutional desk later in 2007 where he stayed till end of May 2016. His focus was on Equity Sales and Derivatives trading for Institutions and hedge funds. In 2014 he completed his Advanced Post Graduate Diploma in Asset types & Investment Planning and Principles of Portfolio Management at the University of Free State. He joined Vunani Securities as an Equity Sales and Senior Derivatives trader on 1st June 2016.
Junior Equity Trader
Qualifications - BSc Environmental Studies (WSU)
Tel: +27 11 784 3077
Zizo completed her BSc Environmental Studies at the Walter Sisulu University 2013, with some exposure to Micro Economics and Applied Statistics. She then became a sales assistant in Cuba Tobacconist 2014 where she got sales experience. Zizo then joined Vunani Securities in April 2015 as a trainee equity trader.
Tel: +27 11 263 9517
Lunga Bhengu graduated at the University of Johannesburg with a BCom degree in Corporate Entrepreneurship in 2011. He then started a day trading company which focused on currencies, commodities and international index futures. In 2013 he joined Consilium Capital SA as an Investment Analyst and Equity Trader focusing on local and international equities. He joined Vunani Securities in April 2016.
Apart from macroeconomic research and technical analyses, Vunani Securities focuses its bottom-up research efforts predominantly on the mid- small capitalisation segment of the domestic market. Our team of research analysts render coverage of about 90 stocks. The sectors currently included in our research universe are:
Research coverage spanning more than 90 companies. (Click diagram to enlarge)
Vunani Private Clients offers high net-worth clients stockbroking and fund management as well as access to various derivative trading and hedging instruments. The wide range of products on offer includes geared derivatives (like CFDs and Single Stock Futures) to money market accounts. In addition, it has a range of absolute, balanced and directional funds. It's also active in both the local and international sphere with a range of offshore trading and investment products.
With a formidable research team and tailored advice, clients get in-depth market research and stock market recommendations. In addition clients have access to a variety of investment seminars, courses and one-on-one training sessions.
Vunani Private Clients has a team of driven individuals. Our traders, analysts, portfolio managers and wealth experts are expected to bring and develop their own niche skills over and above their designated roles. It is this requirement "to go above and beyond" that's seen a unique coalition of expertise seldom seen under one roof.
For more information visit www.vunaniprivateclients.co.za
The fixed interest and money market trading operations of previous acquisitions by Vunani Capital (Pty) Ltd., i.e. Vector Equities (Pty) Ltd. and Vector Securities & Derivatives (Pty) Ltd. in 2006 and Kagiso Securities (Pty) Ltd. in 2010 have been integrated into Vunani Capital Markets (Pty) Ltd., trading fixed interest and money market instruments on behalf of institutional and corporate clients.
The Bonds Team has a wealth of fixed interest experience (of over 54 years) with a substantial institutional client base.
These entities compliment the Vunani Securities equity trading capabilities.
Head - Fixed Income Sales & Trading
Qualifications - MComm
Tel: +27 11 326 5198
Sarel started his career at Transnet as a bond analyst in the primary market supporting bond issuances. He moved to Merchant Banking where he did extensive economic research on the domestic economy. He later joined the bond desk in treasury where he traded derivatives, more specifically bond options, where he picked up valuable experience on the sell side.
Sarel then joined a well-known Stockbroker at the JSE in 1991 on the bond side and after an extensive period with them the company was taken over by an international bank (ABN AMRO). He established with some of his former colleagues the then first independent BEE stockbroker (Kagiso Securities) with the main shareholder being Kagiso Trust Investments.
Sarel was then approached (in 2003) by TIC (Thebe Investment Corporation) together with three former colleagues to join Thebe Securities and was responsible for the fixed income business for just over nine years before joining Vunani Capital markets. He has over 28 years' experience in the fixed income market.
Senior Bonds Dealer
Tel: +27 326 5198
Dan joined the Vunani Capital Markets team on 01 April 2013 as a Senior Bonds Dealer. He started his career in the financial markets at a bank, as a junior Capital Market dealer in 1986 and was promoted to Dealer at the end of 1987. After having completed all the SAIFM RPE exams, he traded bonds and bond derivatives. To further his knowledge and gain stockbroking experience, Dan joined the Gilts/ Bonds trading floor at the JSE during 1992, and was at the JSE until such time as the Gilts/ Bonds trading floor demutualised. PSG Investment Bank in Cape Town lured him back to investment banking as Senior Dealer and thereafter he went back into stockbroking.
Dan is accredited to trade Bonds, Equities, as well as Financial, Currency, Bond and Agricultural Futures and passed the SAIFM/ FSB Regulatory RE5 (Representative) exam during November 2011.
Money Market Trader
Qualifications - BCom, MBA
Tel: +27 11 11 263 9547
George started his financial market career in 1994-1997 at TCTA were he was involved with issuance of new bonds (WS02/WS03) and setting up of market-making arrangements. Thereafter he moved into banking in 1997 and first worked at FBC Fidelity Investment bank until 2000, then later for ABN Amro Bank (2000-2003) and Standard Chartered Bank(2003-2008) in money market, ALM Portfolio, funding and risk management. He moved into consulting roles and have revitalized and started up business initiatives especially in money market, ALM, DMTN origination and fixed income space and also spent some time in other African markets (Botswana, Kenya, Zambia) and the Middle East (Dubai).
He is a SAFEX qualified trader, alternative Compliance officer with a Security Institute of London Capital Market qualification and also has an ACI Operational qualification. His formal qualification is a BComm, MBA. George is currently fulfilling the role of a Money Market Trader at Vunani.
Vunani Securities Proprietary Limited is a registered financial services provider and full service stockbroker member of the JSE. The company has impeccable BEE credentials and actively contributes to skills development via the Vunani Securities Training Academy. Vunani Securities strives to become the foremost South African stockbroker, focusing on domestic stocks and boasts a particularly broad covering in the Mid-Cap segment of the market. Its research analysts and consultants offer clients top-down analysis, supplemented by company specific bottom-up research on about 90 listed companies. The product offerings of analysts to institutional clients include daily, weekly and monthly reports and frequent road show presentations. The front-end service to clients is handled from both its Sandton and Cape Town offices by a dedicated team of dealers and sales traders who between them have more than 60 years of trading experience. It also offers trading in stocks listed on other African bourses via trading agreements with selected stockbrokers in selected African countries.
Vunani offers a full service stockbroking service to both institutional and retail clients by trading in equities, bonds and money market instruments. Vunani Securities (Pty) Ltd. predominantly focuses on the institutional equity market, Vunani Capital Markets (Pty) Ltd. on the institutional fixed interest and money markets and Vunani Private Clients (Pty) Ltd. on the private client business.
Vunani Securities (Pty) Ltd. is a registered stockbroker member the JSE and offers both research as well as equities and derivatives trading to its clients. The company boasts a number of research analysts offering company analysis and research on listed stocks as well as on general economic and market trends. Over the past couple of years Vunani Securities (Pty) Ltd. has expanded its research and trading capabilities substantially. The integration of relevant capabilities from the acquisition of Vector Equities (Pty) Ltd. and Vector Securities & Derivatives (Pty) Ltd. in 2006 and Kagiso Securities (Pty) Ltd. in 2010 further bolstered the sector coverage and general service offering of the team.
The fixed interest and money market trading operations of previous acquisitions by Vunani Capital (Pty) Ltd. have been integrated into Vunani Capital Markets (Pty) Ltd., trading money market and fixed interest instruments on behalf of institutional and corporate clients. These entities compliment the Vunani Securities equity trading capabilities.
Vunani Private Clients (Pty) Ltd. was established in 2010 by merging existing capabilities in the private client space with added capabilities as a result of acquisitions. That enabled the stockbroking division to further expand its offering to high net-worth private clients by not only offering stockbroking and wealth management services, but also exposure to derivatives such as Single Stock Futures and CFDs, as well as offshore markets .