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African Phoenix Investments has appointed Siyabonga Nhlumayo as its CEO, adding another deal maker to its team as it seeks to deploy over R1bn in cash and to execute its new strategy. Nhlumayo will join the former African Bank Investments from private equity house Medu Capital — where he is a partner — on March 1. He will be the second executive alongside financial director John Evans but will find himself in familiar company as Sam Sithole, a former financial director and investment executive at Brait, serves on African Phoenix’s board. Nhlumayo said he was unable to make any public statements as he was serving notice at his current employer. A chartered accountant, he is responsible for strategic development, investment execution and management at Medu and has 16 years’ experience in auditing, transaction advisory services and private equity. Medu launched in 2003 with backing from Brait. The relationship between the two endured past the time Sithole joined Brait in 2008, with the...

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