KENNEDY Bungane, former head of Barclays Africa Group’s operations outside South Africa, will become CEO of Pembani Group, which last month combined its assets with Cyril Ramaphosa’s Shanduka Group.Mr Bungane, 40, will join the black-owned investment house specialising in mining, energy and resources on August 1, Pembani said on Tuesday. Before joining Barclays’ unit, he was head of South African corporate and investment banking at Standard Bank Group."The group is entering an exciting period of growth and Kennedy’s extensive commercial and regional experience will be invaluable as we invest in new opportunities," Phuthuma Nhleko, chairman of Pembani and former CEO of MTN Group, said in the statement.Mr Ramaphosa divested from Shanduka last month and his family interests were put into blind trusts as he was sworn in as deputy president.The combined value of the merged Shanduka and Pembani assets will be more than R13.5bn, according to a May 26 statement from Shanduka.Pembani’s inves...
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