BORALA MINING (PTY) LTD
( Mining & Suppliers of Engineering Products & Services )
Reg No : 2000/026039/07
OUR
MISSION
“TO BECOME ONE OF THE LEADING BBBEE COMPANY THAT STRIVES
TO ENHANCE ECONOMIC AND BUSINESS ASPIRATIONS OF THE
PREVIOUSLY DISADVANTAGED ENTREPRENEURS IN THE MINING AND
SUPPLY OF ENGINEERING PRODUCTS.”
2000
Corporate Member of NAFCOC
1. BACKGROUND
BORALA MINING (PTY) LTD is a Broad Based Black Economic Empowerment
Mining Group that was founded in 2000 by black technical professionals, Women
Engineers and Lesiba Family Education Foundation in Polokwane, South Africa.
Mining Engineers and Accountants – During underground mine
Inspection and financial valuation process
Borala owns and operates some of its assets through partnerships with
international companies which boosted its track record and portfolio in the mining
sector. The also possess credibility and technical expertise through some of its
subsidiaries and joint venture arrangements as well as its individual directors’
experiences and contacts. The company is managed by entrepreneurs with
business focus and expertise in Mining Engineering; Business Administration,
Structural, Civil & Electrical Engineering consulting as well as the distribution of
Engineering products such as:
Bearings
Seals
V-Belts
Timing Belts
Polly V Pulleys
Conveyer Belts and Accessories
Chains and Sprockets
Borala Mining’s mainstream business activity is to act as a Holding company that
identifies, explore, develop and operate business and investment opportunities.
The company negotiates on behalf on its shareholders and subsidiaries for the
acquisition of prospecting rights and mining rights as well as the procurement
supply of engineering related mining products and also to engage in the repair
and maintenance.
The company is currently having at least five areas of interest namely:
Platinum Group Metals (PGMs) - through Palala Resources in
Smokey Hill Platinum and Limpopo Platinum Holding in
Sekhukhuneland and other low cost assets in Thabazimbi
Chrome assets Thabazimbi
Coal assets in Mpumalanga, Waterberg Limpopo and Musina
Some of the Products
The company distributes Engineering Products like Ball Bearings,Roller Bearings, Seals, V-Belts, Timing Belts, Poly V Belts, Chains and Sprockets, Taper Lock Bushes, V- Pulleys, Poly V
Pulleys, Air and Hydraulic Hoses, Conveyor Belts and Accessories,Crocodile Fasteners, Electric Motors and Gearboxes, Lagging Material and Conveyor Belt Bonding Material
(Tigrostick SC 022).
Dimension Stones and Beneficiation Initiatives in Limpopo & North
west
Gold and Diamond in Giyane, Pietersburg green stone belts
through interest in Palala Resources and Buttonskops Prospecting
& Exploration.
Oil and Gas – in South Sudan and Energy in South Africa
This led to the formation of Borala Platinum; Borala Coal; Borala Fero-chrome;
Borala Gold & Diamond and Borala Dimension Stone & Processing; Borala
Energy & Oil; Bitumen and Supply of Mining /Engineering Equipments &
Machines.
2. AIMS AND OBJECTIVES
Apart from acting as the investment holding for black entrepreneurs wishing to
engage in mining and the supply and distribution of mining or engineering related
goods and services, Borala has the following strategic objectives to fulfill:
Identification and negotiation of viable business opportunities for the
interest of its shareholders and the mining companies (clients).
Form Joint Ventures and Partnership in Mining and Prospecting with
Established Big Companies
Champion the supply and distribution of mining products and services
within the mining houses or projects in the whole South Africa and the
African Continent
Act as an umbrella body in directing and driving the activities of black
entrepreneurs.
Empowerment of enterprising individuals and PDI companies to take
responsibility for their own circumstances through entrepreneurial skills
development.
3. OUR FOCUS / SUBSIDIARIES
In view of its emphasis and focus on broad based empowerment and
professionalism in business, Borala Mining (Pty) Ltd offers services through
its partnerships, joint ventures and divisions and/or subsidiaries in:
MINING SECTOR – Gold; Coal; Platinum; Diamond; Vermiculite;
Dimension stones etc.
OIL AND ENERGY SECTOR – Oil and Gas; Bitumen; Renewable
energy
BUSINESS MANAGEMENT & CONSULTING – Mining Engineering &
Business management etc.
INDUSTRIAL SECTOR – Mining Equipments & machineries supplies
& products
Smokey Hill / Phokathaba Platinum Project established & commissioned 2010. Borala through Palala Resources
5. SOME MINERALS PURSUED
Gold Diamond
Licenses acquired – SA and Sudan
Granite Copper
Platinum Uranium
6. ESTABLISHMENT AND CORPORATE STRUCTURE
The company was established as a response to Government’s Mining Charter
requirements and the desire to involve the local business and entrepreneurs in
actual mining and the procurement of goods and services. The ownership and
management structure of Borala Mining Group is as follows:
Borala Mining (Pty) Ltd is a 100% Black Owned Company:-
1. Women Empowerment Group- Razorbill Prop. 10%
2. Borala Group Holdings (Pty) Ltd: 70%
3. Lesiba F Trust: Edu-care Support 10%
4. Borala BBBEE Trust – Empowerment & support 10%
Razorbill
Properties
Women group
EDU-CARE
SUPPORT
FOUNDATION
BORALA
BBBEE /
WORKERS
TRUST:
BBT SA
Promoters/Tech
nical drivers
BORALA
MINING
Group(Pty)Ltd.
6. MANAGEMENT- BORALA MINING (PTY) LTD
Borala Subsidiaries/Divisions
100% 26% 70% 25% 20% 54% 60% 28%
-Smokey Hill Platinum - Elephant Granite (Pty) Ltd
-Limpopo Platinum
CHAIRLADY
Non Executive
Ms MC Mosena Pr.Eng
MBA & M.Eng.(Mining)
WITS;
ASSOC. DIR. TECHNICAL
P Stacey Pr Eng (Mining)
&
Ms MD Phuluwa
Director: Social & Labour
Plans
CHIEF EXECUTIVE OFFICER &
DIRECTOR
Mr SG Mosena Pr.
CE DC Eng; B.Com (Admn);
H.Dip.DP; MCRP;
MSc.Econ(UK); MBA
ASSOC. DIR. FINANCE
K Duneja CA (SA) CFA
(USA);B.COM HON. ACC
&
Ms NN Mosena
B.Arch; BSc.Eng (Hons).Civ
& Struc; MEng (UK)
PALALA RESOURCES
-Gold
-Platinum
-Pyrite
-Titanium
LEKOA
INDUSTRIA
L SUPPLIES
-Mining
Equipments;
Tools; Products
-Inputs Supply
Park
COLO
GRANITE
-Black
granite Quarry
-Processing
Factory
Borala
Empowerment
Consortium
-Gold
-Coal
-Chrome
-Uranium Manganese
BUTTON
SKOP CC
-Gold
-Silver
-Uranium
-Copper
-Nikkel
MELTING
POT
-Coal
NTSHOBELA
VERMICULITE
-Mine Quarry
-Processing
Factory
ONE
VISION
QUARRY
-Red
granite
PALALA
GLOBAL
-Gold
-Diamond
-Oil
-Gas
-Iron
7. OUR PREFERRED MINING AND INDUSTRIAL ENGINEERING
SUPPLIERS OF EQUIPMENTS
8. CORPORATE IDENTITY
The activities of BORALA MINING (Pty) Ltd are transacted in the following
corporate offices:
Head office: BORALA OFFICE PARK
92 Biccard Street
POLOKOANE
LIMPOPO PROVINCE
Fax/Tel 015 298 8855 /086 515 3254 /082 455 1016
Postal Address: Postnet Suite 196
Private Bag X9307
POLOKWANE , 0699
E-mail: [email protected] or [email protected]
Website: www.boralamining.co.za
• Zhous Enterprise International – A Chinese Owned company based in Jetpark for distribution on Bearings, Seals, V-belts, Chains and Sprockets.
• All- Rubber Company – An Australian company for the supply of Conveyor Belts and accessories.
• Hangzhou Chinabase Machinery Co. – A Chinese base company for Electric Motor supplies.
• Shanthi Gears – A German/Indian Company for the supply of Gearboxes.
9. BOOKKEEPERS / AUDITORS / BANKERS
The transactions of Borala Mining Group(Pty) Ltd are handled by:
Auditors / Accountant: Name : SAB&T Polokwane
Bankers details
Bank : ABSA BANK
Branch : Polokoane
Type of A/C : Cheque Account
10. SOME DIRECTORS /MANAGERS QUALIFICATIONS
CE & Chairlady
SG Mosena Pr TRP.(MSAPI) CE DC Eng; MCRP; MSc Econ (UK); MBA;
H.Dip. DP: Bachelor Degree.; Owner & CEO of
Dux Consulting Engineers; Director of BMI
Holding;
Director of companies, Deputy President and
National Secretary General of NAFCOC and
National President of SAMEC (NAFCOC
Mining Sector); Vice President of Black
Business Council & ANC Treasurer in Limpopo
Cell 082 455 1016
Ms MC Mosena Pr Eng BA Bus. Econ; STD; PG Dip. Marketing; MBA;
Graduate Diploma Mining Engineering;WITS:
M.Eng (Mining);WITS; Director of companies.
Director of Borala Mining & MVM Africa
Consulting Engineers; Manager & Owner of
Mamakadi Quality Cleaning Services; NAFTO
member.
083 645 5589
Ms MD Phuluwa Businesswoman; Owner of Phuluwa Spaar &
Supermarket, Phuluwa Bottle Store and Bar
Lounge, Member of companies and BMI
Holding Associate Director. Community Leader
– SANCO ; NAF.RET
Ms NN Musena B.Arch and/ BSc.Eng(Hons) Civil & Structural
Engineering; and MEng Civil & Structural
Engineering – UK; Directors of companies –
Borala mining; Civildev (Pty) Ltd, LIMPSA
Business Women, COM.IT; SAWIMA &
member of ANCYL & NAFCOC Youth.
CHIEF EXECUTIVE OFFICE & DIRECTOR: STRATEGY PLANING
SEKWAMO GILBERT MOSENA
1. PERSONAL
Born on the 12th April 1962 – Polokwane – Limpopo province in RSA
2. EDUCATIONAL / SKILLS ACQUIRED AND/OR PURSUED
Bachelor Degree and CE D. C Eng – Urban Planning and Egineering Consulting
H.Dip. Development Planning - Witwatersrand University (WITS)
MSc. City and Regional Planning - course work only: University of Cape Town
MSc. Economics - (Regional Development Planning) - University of Wales in UK
MBA - ( Dissertation / Specialised in Financing of SMEs) - University of Limpopo
LLB – (Corporate Law) – Registered in 1993 and 2004 : currently pursuing - UNISA
3. CURRENT BUSINESS POSITIONS & DIRECTORSHIP
Owner and Executive Chairperson: Dux Consulting Engineers & Planners
Director & CEO: Borala Mining & Industrial Holding (Pty) Ltd ( BMI Holding )
Chairperson and director: Palala Global Ltd – Sudan, Zambia & Mozambique
Board member: Limpopo Operating Licensing Board
Member : Melting Pot CC; NAFCOC–SAMEC; Buttonskop Prospecting; Ntshobela Vermiculite
Director : Com.IT Technologies (Pty) Ltd
Director : Colo granite (Pty) Ltd
Director: Palala Resources (Pty) Ltd
Director: Borala Mining (Pty) Ltd
Director: Phokathaba Platinum (Pty) Ltd
Director: Limpopo Platinum Holding (Pty) Ltd
Director: One Vision Investments 275 (Pty) Ltd
Member of NEDLAC – Economic subcommittee
4. AWARDS RECEIVED
1988: Awarded ANC Scholarship to study MSc. Economics in UK
1993: Awarded ANC Certificate in Local Government and Governance
1997: Awarded Housing Person of the Year – Limpopo Province
2002: Awarded MBA Top Student Award by the combined University of Limpopo
CHIEF OPERATIONS OFFICER & ASSOCIATE DIRECTOR / CONSULTANT TECHNICAL
SERVICES
Mr P Stacey: Pr Eng (Mining) WITS
Qualifications
B.Comm - University of The Witwatersrand
B.Sc Eng(Mining) - University of The Witwatersrand
Graduate Dipl Eng (Civil Eng) – University of the Witatersrand
Specific post-graduate fields of study: Project & Contract Management,
Environmental Engineering, Mineral Economics
Skills, Range of Activities
Consulting engineering and contracting to the mining, construction and process
engineering industries including:
Geological Appraisal, Resource Identification
Statistical Analysis, Quantification
Infra-structural and Construction Planning & Design
Business Modeling and Financial Presentation
Project Planning & Implementation,
Contract Control, Performance Appraisal
Environmental Engineering
Industrial and Chemical Process Evaluation and Design
Some pertinent information about principal member Peter Ivan Stacey
Birth Place Ireland
Citizenship RSA
Previous JCI - Mineral Exploration Admin – Southern Africa
Employment Civil Construction, Industrial Admin – South Africa
History Fraser & Chalmers Equipment : Administration of a several
Proprietary process engineering and project subsidiaries
Rand Mines : Mining Engineer Douglas Colliery, ERPM
Durban Roodepoort Deep
Fraser Alexander: Technical Director Mining Services.
Contracting and consulting for Anglo America Corp. Genmin and Rand Mines Groups
Present Stacey & Associates:. Consulting Engineers, geological exploration and project
management, Feasibility studies on medium to large mining operations in Southern
Africa/Madagascar, with special emphasis on resource and financial Modeling.
MINING
Chrome
Gold
Coal
Manganese
Lead & Zinc
Copper
Diamonds
Stacey & Associates has an excellent track record in exploration,
as well as development and operation of both underground and opencast
Mineral resources. These include:
CHROME: an in depth knowledge of the chrome resources and mineral rights on the
Bushveld Igneous Complex in South Africa as well as the experience of project managing
a successful chrome venture from borehole data modeling to final ferrochrome
production.
COAL: Production and process expertise gained in the Witbank and Northern Natal
Coalfields; Exploration and appraisal of coal measures in the Nongoma area of Eastern
Natal, including exploration, design, planning and environmental impact analysis for the
Somkele Anthracite mine (currently operated by the Petra Mining group); Exploration
evaluation and planning on opencast prospects in Zimbabwe’s Hwange coalfield. Mine
design, planning and bankable feasibility exercises on Southern African and Madagascar
projects for major clients.
MANGANESE: Extensive exploration in Southern Africa. Exploration, planning, design
and implemntation of Otjosondu Manganese mine in Namibia, including complete project
management and extensive design input into the beneficiation plant.
DIAMONDS: Involved from exploration through to production and marketing on as
many as a dozen projects in southern Africa.
INDUSTRIAL MINERALS:
Exploration and resource evaluation of silicate and alumino-silicate minerals in Southerm
Africa and eastern Europe, including high grade glass sands, nepheline syenite, feldspar
and andalusite..
MISCELLANEOUS OTHER MINERAL EXPLORATION: Tantalite,in Mozambique,
Northern Cape, Namibia. Beryl in Mozambique, Madagascar, Namibia. RSA, Gold in
Limpopo and Mpumalanga RSA., Chome, Copper & Manganese in Guinea. Vanadium in
Pilanesberg, RSA, etc etc.
CONSTRUCTION TECHNOLOGY
Stacey & Associates four years ago embarked on a research and development programme
to address the challenges of construction, particularly related to mining in Africa. Initially
work was done on modifying and developing processes to use refractory waste materials
to manufacture lightweight panels and the application of lightweight cold rolled steel
sections for roof and deck. Ultimately with significant changes in raw material costs the
focus has moved to concrete composites and the group has completed the successful
design of cost effective solutions and is in the prototype testwork phase of this project..
Contact Details
Address: 47 Claim Street, Boksburg 1459
Tel 011 917 3744
Fax 011 917 3048
Cell 082 578 1057
e-mail [email protected]
Some Further Background Information
Peter Stacey offers an extensive range of skills and experience in a diversity of construction, mining and
mineral projects. A widespread network allows access to state of the art technology in all aspects of
construction, processing and production technology..
Some Specific and Relevant Projects
Project: CMI (Consolidated Metallurgical Industries (Rustenburg)
(subsequently taken over by X-strata)
Description: Mining and beneficiation of chrome
Role of S & A: Primary appraisal of geological information including borehole data,
develop operational model and feasibility study for original
owner and entrepreneur,Purity Minerals (Pty) Dr R.F Ballen.
Assisted in financial presentation and negotiation of funding
(Credit Suisse +- R100-m ) Project subsequently acquired by
Johannesburg Consolidated Investments Limited (JCI) for R182-m (1989)
Project: Otjosondo Manganese Namibia
Description: Exploration, Mining and beneficiation of manganese ore
Role of S & A Assessment of geological and exploration data, identify investor
Present feasibility, carry out additional exploration and develop process and
mining plan, marketing strategy to ensure successful
project.. Planned and implemented opencast mine,
designed and constructed 50 000tpm benficiation plant
(contractors Titaco/EL Bateman, Klockner Humboldt Deutz)
Project: Bermix Ferrochrome - Krugersdorp
Description: Recovery of ferrochrome from slag
Role of S & A: Identified, quantifiefd and and evaluated resource.
Carried out feasibility and negotiated acquisition
Designed and implemented 40 000tpm mining and beneficiation
Client: Recmix Inc (Canada & USA) and Begslagens AB (Sweden).
Project: Kimpe Copper - DRC
Description: Joint development of chemical HydroMet process for
copper/cobalt/nickel extraction
Role of S & A: Identified, quantified and evaluated resource.
Carried out bulk sampling, leaching and pilot production to prove
metallurgical viability
Client : KGHM Polska (largest European copper producer)
BRIEF OUTLINE OF SEVERAL OTHER S & A PROJECTS:
Assessment on behalf of Metalleghe SA and Selca SA (Italian ferro alloy producers) of viability
of restructuring Albanian chrome mining industry.
Assessment and Feasibility study for N. Cape underground Manganese Mine for Purity Minerals
Management and formalization of Selca/Metalleghe’s bid to process Columbus/
Middelburg Steel and Alloy slag reserve (Contract value +- R200-m).
Evaluation, expoloration and plant design and construction of diamond operations for a variety of
local and foreign investors.
Due Diligence carried out on mining and process of Fairview Gold Mine (Gencor)
For Noble Peak Resources Inc (Canada)
Exploration, assessment and negotiation for development of Zambian phosphate mine and fertilizer
plant. Client RSA/Zambian consortium/ Nitrogen Chemicals of Zambia.
Mine Plan, environmental management programme and mining rights application for
Pilanesberg Vanadium (Purity Minerals)
Mine Plan, environmental management programme and mining rights application for
Pilanesberg Vanadium (Purity Minerals)
Mine Plan, bankable feasibility for Piet Retief Colliery (now Kiepersol Colliery). Detailed
capita/cost budgeting, complete procurement management and contractor selection for mining
contract, beneficiationb plant and primary infrastructure
Current Activities Independent contractor/entrepreneur indentifying mining,
and Modus Operandi construction and metallurgical opportunities. Developing
Business models, securing investment and turning projects to
account.
GROUP CHAIRLADY & NON EXEC BUSINESS DEVT.
Ms MC Mosena Pr Eng (Mining)
5. PERSONAL
Born on the 9th July 1967 – Sekhukhuneland – Limpopo province in RSA.
6. EDUCATIONAL QUALIFICATIONS OBTAINED/ SKILLS ACQUIRED
STD – Secondary Teachers’ Diploma – Mokopane College of Education -1986 -1988
BA Bus. Econ Degree - University of Venda -1992-1994
PG Dip. In Marketing - University of South Africa – 1998-1999
MBA - ( The Role of Marketing in Women’s Initiated Ventures: The Case of Polokwane-Limpopo
Province) University of Limpopo – 2001-2003
GDE - Graduate Diploma in Engineering (Mining Engineering)– University of Witwatersrand
(WITS) – 2008 -2009
M.Eng (Mining) WITS - Masters in Mining Engineering - Completed coursework and
dissertation entitled “ The Economic Impacts of Minerals Beneficiation: The Case of Granite
Processing Plant. “ 2010
7. CURRENT COMMUNITY INVOLVEMENT/ MEMBERSHIP
Member of NAFCOC Limpopo – Mining and Energy Sector : Women Empowerment Unit
Member of ANC & ANCWL – Small Enterprises Development Desk
Member of SAWIMA (South African Women in Mining)
Former member of SADTU (worker’s union)
Co-ordinator of Small Scale Mining Operators in Limpopo province
Former member of SANCO (community) – Skills Development & Training
Director of companies
8. AWARDS RECEIVED
2007: Awarded Government Bursary to Study Mining Engineering Qualification
9. EMPLOYMENT RECORD / HISTORY
Manager – Mining Cluster: Limpopo Department of Economic Development & Tourism -2006 to
date. Sometimes acted as Senior Manager for Sector Industries
Senior Lecturer – Capricorn Technical FET College – 1996 -2005
Part-time Lecturer – Tshwane University of Technology- 2004-2005
Part-time Lecturer – Damelin College -2000
Lecturer: Kwena Moloto College of Education – 1995 -1996
Teacher – Kgahlanemorulana Secondary School: 1989-1991
NB. Summary of Duties & Responsibilities at the moment:
- Management of Small Scale Mining activities in the province in line with Enterprises development
- Monitoring the implementation of Mining charter and Legislations –SMEs and Communities
- Co-ordinating SME’s in mining and women empowerment in particular
- Provide guidance on BBBEE, Skills training, procurement and beneficiation as well as marketing
- Facilitating and assisting the host mining communities and their expectations
- Monitoring mining companies’ compliance : social responsibilities and environmental issues
:
CHIEF FINANCE OFFICER/CONSULTANT: BORALA (ASSOCIATES)
Kushal Duneja, CA (SA), CFA (USA)
Personal Details Full Name Kushal Duneja
Date of Birth 26/01/1972
Phone Numbers Home +27 11 234 5624
Mobile +27 72 919 5400
Location Johannesburg, South Africa (Gauteng) »
Education Chartered Financial Analyst (2006) Chartered Financial Analyst Institute, USA **Completed all levels in minimum time – scored 3/3
Chartered Accountant, South Africa (1999) South African Institute of Chartered Accountants Professional Qualification at SAICA in Gauteng, South Africa **Qualified at the first attempt Advanced Auditing, University of Johannesburg (1999) CTA / Honors Bachelors of Accounting Science (1998) Degree at UNISA in Johannesburg, South Africa (Gauteng)
Honors Bachelor of Commerce, University of Delhi (1993) ** Highest Marks at the University in Audit and Taxation O’ Levels, University of London (1988) **Distinction in Chemistry, Higher Merits in all other subjects » Languages Read, Write, Speak English 3 Kushal Duneja has over 16 years experience across the financial services industry at top tier organizations like PricewaterhouseCoopers, Citibank and Alliance Capital (now Alliance Bernstein). Furthermore, he has the unique advantage of working in roles across front, middle and back office - he has worked as an Auditor and IT risk manager at PwC and Ernst and Young, where he was responsible for audits of Banks (Standard Bank), Stockbrokers (UBS, Investec), Custody and Settlement Agents (SocGen, ABSA). He has worked as an Equity Investment Analyst at Alliance Capital (buy side) and Citigroup Investment Research (sell side) and as financial controller and Operations manager at Citibank. At age 39, Kushal has built tremendous skills and a solid foundation from the experience. He has worked across several geographies including Europe, Africa, Middle East and India. He is an expert at various valuation models including DCF, NAV, DDM, and NPV. He has researched mining, retail and industrial stocks listed on the JSE, conducted due diligences, prepared legal documents and mandates. As a financial controller he has been responsible for project appraisals NPV, IRR and ROI criteria, and been responsible for preparing budgets, cost allocation models, shadow accounting techniques etc. Within IT and IT risk he has designed processes, developed solutions for financial systems, implemented IT modules etc. He has worked as an individual as an equity analyst and has also led a team of over 15 individuals across 32 countries as CEEMEA head of financial control and IT riskThis well rounded exposure and experience sets him well for various roles. Kushal is a qualified Chartered Accountant (SA) and a CFA Charterholder. He holds a Bachelor of Commerce (Honours), Bachelor of Accounting Science (Honours) and a Certificate in Advanced Auditing. 2
» Employment Details Growth Factors May 2009 – Present Set up own firm to provide niche Corporate Finance and Consulting to clients. Have completed mandates to set up Fund Management Business, Fund raising for aquaculture business, mining, and metals businesses; Currently working with Ecobank (a large Pan African bank) on several projects across the Bank.
African Alliance Sept 2008 – May 2009 Portfolio Manager, Small Cap Fund African Equities (across 12 countries) Prepare the fund prospectus and embark on a road show to raise funds. Research, Analyze and invest in African Stocks with market cap less than $100m; Manage the funds and benchmark performance against a suitable index or based on an absolute basis. Citigroup Dec 2002 – Aug 2008 Citigroup Investment Research Senior Analyst, Equity research (South Africa) Duties & Responsibilities Research Diversified Industrial Stocks listed on the JSE. Responsible for coverage of the industrials sector, regular update to traders and clients Perform investment valuation using various methods including DCF, P/E relative, ROIC/WACC to determine the fundamental value of stocks. Provide a recommendation on stocks to clients. *I briefly left Citi, between Jan08 and May08 during a management change to join IDC and returned to Citi in June08. At IDC I worked in the corporate and structured finance department as a senior account manager. Perform due diligence, financial modeling and negotiations for various project and corporate finance deals. Perform BEE deals. Head of Finance and Controls, CTI, CEEMEA (Bahrain) Duties & Responsibilities Financial Control for Central Eastern Europe, Middle East, and Africa region covering 32 countries 600 staff and $ 200 MM of expenses. Budgeting, Performance Measurement, Attrition, Cost Saving initiatives, Systems Implementation and process improvement Oversee the IT controls and financial control for Operations in the CEEMEA region for CTI, Citigroup. Key Achievements:
region by CTI;
based model;
ral Europe to execute the strategy of performing IT functions
in low cost locations;
infrastructure; Ernst and Young Audit Manager Lead Auditor for all Stockbrokers and Custody Clients September 2001 – November 2002 Duties & Responsibilities Managed audit and Special Regulatory Engagements; Review stock exchange listing and other requirements; Audit Manager for all Stock broking clients; Plan audits and address major risks; manage budgets and billing; Steer team members; counsel and mentor staff; Build and Maintain client relationships; Reporting to the Financial Services Board and The JSE Securities Exchange. Main clients were UBS, Société Générale Securities (SocGen), Investec Securities, and ABSA (now Barclays). During this time major changes were introduced in the South African Securities market with the conversion to dematerialized share certificates, introduction of a new custody and settlement participants and the end of weekly settlements with rolling daily settlements. This resulted in several significant challenges that had a significant impact on the audit and reporting requirements. Key Achievements
ng, challenging environment. CDC Capital Partners Investment Analyst Private Equity May 2001 – August 2001 Duties & Responsibilities Investment analysis of private equity deals in particular MBO’s and Venture Capital projects; Advanced financial modeling using excel; To perform detailed financial statement analysis work, and act as a team member in private equity deals. Research and identify opportunities in the pharmaceutical sector. CDC Capital Partners (ex Commonwealth Development Corporation) was formed under the private public partnership program of the UK government. Its venture in South Africa made losses that led to a restructuring and eventual divestiture to another private equity firm. Key Achievement:
in a $25MM MBO deal of a pharmaceutical company that was approved by the investment committee. 5
Alliance Capital (now Alliance Bernstein) Equity Research Analyst, Investment Analyst JSE May 2000 – April 01 Duties and Responsibilities Investment Analysis of listed Equities using detailed Fundamental Analysis; Financial modeling using DCF, NAV, PE valuation models; Recommend investment in equities on the JSE, by performing thorough bottoms up research of the company, in accordance with Alliance Capital Standards. Present to Chief Investment officers across the company and to the board of Trustees; Communicate regularly with management and brokers analysts locally and internationally to assess the likely performance and investment attractiveness of the company.
Key Achievements:
Financial services sectors) gaining a sound knowledge of several industries.
ood results!
PricewaterhouseCoopers Management Consultant and IT Risk Auditor (South Africa) November 1998 – April 2000 Duties and Responsibilities Performed system requirements and review analysis for clients that involved reviewing financial systems, and recommending a suitable IT solution to the clients. This required getting a thorough understanding of the business and user requirements, and the areas where the current system failed to meet requirements. As part of the IT Risk Auditor role reviewed both general and application controls to obtain reasonable assurance to the financial audit that the information produced by the IT systems. Main clients were in Financial Services Group. Key Achievements:
additional engagements; Created add on sales by leveraging the audit relationship to generate revenues
in time to enable the Y2K assessments
Irshad Nakhooda & Associates CA (SA) Audit Manager (South Africa) April 1994 – October 1998 Registered Public Accountant and Auditor Completed training contract (articles) Continued as Audit Manager after completion of the training contract. Was responsible for all Income Tax and VAT related issues. Worked in Auditing, Accounting, Taxation Government Returns, Legal & Company Secretarial work 6
Key Achievements
origination » Extra Curricula Achievements
riting Competition across 5 countries in District 921 – 1988
University of Delhi
hi
» Skills Extensive Financial Modeling, Valuations,
Advanced Excel (5 to 10 years experience)