MTN has poached Kholekile Ndamase from Rand Merchant Bank (RMB), where he led the equity based financing business, as its new deputy head of M&A as Africa’s biggest mobile phone operator plans to push harder in taking advantage of opportunities presented by a rapidly changing telecoms sector. By Gugu Lourie

Ndamase will work with Steve van Coller, who has been appointed as a VP for strategy and M&A.

While at RMB, Ndamase led the provision of financing solutions for diversified and non-diversified investment holding companies, including Black Economic Empowerment (BEE) transactions such as Aspen, Bidvest, FirstRand, MTN and Steinhoff.

In addition to occupying other management roles during his 12-year tenure at the bank, he has served on the Investment Banking Division Management Board, Investment Banking Division Strategy Forum, and was chairperson of the Investment Banking Division Strategy Forum. Before joining the First Rand Group in 2004, he worked at Accenture.

With a portfolio of R40 billion in assets, the equity financing unit contributed significantly to RMB investment banking division’s profits.

“Kholekile brings extensive experience to the role, particularly in transaction origination, structuring and execution. His knowledge and skills are essential to the attainment of MTN’s broader growth strategy, as we continue to focus our efforts on developing our participation in adjacent sectors,” says Phuthuma Nhleko, executive chairman at MTN.

He graduated from the University of Witwatersrand with a Bachelor of Science Honours Degree cum laude.

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