Transaction fosters strategic transformation and consolidation in the South African black-owned asset manager universe.
13 April 2021: Taquanta Investment Holdings has acquired 100% of NIM’s issued share capital from Ngwedi Capital Holdings (NCH). Under the terms of the transaction, NIM will be merged into Taquanta Asset Managers (TAM), bringing together two formidable investment teams which will ultimately give rise to an even more transformed, scalable, dynamic, and sustainable business.
The highly regarded Ngwedi investment team of Moneimang Pudumo-Roos (Monei), Raphael Nkomo, Farzana Bayat and Teresa Lu, will, for the time being, continue to manage the affairs of NIM, whole heartedly supported by Taquanta’s various operational divisions. These investment professionals will likewise continue to diligently manage the NIM client assets throughout the merger process.
Roles and responsibilities
Monei will be appointed to the board of TAM fulfilling the role of Executive Director focusing on business development. Monei brings a wealth of knowledge across all asset classes and provides a fresh face to promote a more appropriately transformed TAM business. Both Farzana and Teresa will not only continue to manage Ngwedi’s existing client assets but will take on further responsibility in the combined investment team.
Furthermore, Raphael will assume the role of TAM’s Chief Investment Officer. Ray Wallace (TAM’s current CIO) will remain very involved in the overall investment process, with a significant emphasis on cash and related assets, the largest pool of assets currently under management at TAM. Ray will lead the strategic direction of the team responsible for cash and related investment products. In line with TAM’s much emphasised “changing of the guard” strategy, Ray is thrilled to be handing over the CIO role to an accomplished investment professional such as Raphael who shares a similar investment philosophy, thereby ensuring the necessary continuity for all stakeholders.
Justin Kretzschmar, CEO of Taquanta says the integration represents the long-standing “changing of the guard” succession plan. “We have always worked towards a sustainably transformed business, focusing largely on growing our own talent. This transaction not only allows us to fast-track our overall succession strategy, but also creates a pool of highly talented investment professionals, resulting in a far more sustainable, transformed business going forward,” he says.
Similarly, Monei comments that the merged entity represents one of the most transformed and experienced investment team in the country. “At Ngwedi we are extremely proud to have concluded this transaction as this puts us in a position to not only compete on an equal footing with any of the large investment houses, but to do so in way that fosters genuine transformation in a country like South Africa with complex history,” she says.
For more information or to set up an interview with either Justin or Monei, please contact Taryn Menne (acting on behalf of Taquanta): tarynmc [at] nedgroupinvestments [dot] co [dot] za or +27 82 880 3570