Bloomberg News

RenCap Loses Head of African Research After Ike Leaves

July 15, 2014

Nothando Ndebele, head of African research for Renaissance Capital, has quit three weeks after Yvonne Ike, chief executive officer for the brokerage’s West African operations, left to join Bank of America Corp. (BAC:US)

“I’m leaving tomorrow,” Ndebele said in a phone interview today from Johannesburg. A statement may be released next week detailing her future plans, she said.

Ndebele joined RenCap in Johannesburg in May 2011 after serving as a senior investment officer at Africap Microfinance Investment Co. She previously worked for Goldman Sachs Group Inc. (GS:US), Deutsche Bank AG and Investec Asset Management, and also co-founded Afena Capital.

RenCap, the brokerage owned by Russian billionaire Mikhail Prokhorov, started operations in Africa in 2006 and has opened offices in Johannesburg, Nairobi and Lagos in a bid to tap economic growth across the continent. Ike spent almost three years with RenCap before leaving last month to join Bank of America in London.

To contact the reporter on this story: Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net

To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net Dylan Griffiths, Steve Bailey


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