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 | Kennedy Bungane to head Black Empowerment Financing at SCMB |  |  |
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24 November 2003
Kennedy Bungane (29), who was involved in the negotiation and drafting of the Financial Sector Charter, has been appointed as head of Black Empowerment at SCMB.
Bungane (also known as KGB), who is President of the Association of Black Securities and Investment Professionals (ABSIP) will also be joining SCMB's Executive Committee. He reports to SCMB Managing Director Ben Kruger.
Says Kruger: "Kennedy, as head of Black Empowerment within SCMB, will play a critical role in terms of SCMB meeting various business objectives and reinforcing a co-ordinated approach to black empowerment financing across all business units."
"While SCMB has been successful in financing empowerment deals in the past, the advent of the Financial Sector and Mining Charters present specific challenges in terms of our ability to co-ordinate, manage and execute empowerment transactions. I am happy to be part of a collective within SCMB and the Standard Bank Group whose focus will be making BEE financing simpler, better, faster," says Bungane.
Bungane has a BCom degree in Investment Finance and Corporate Finance from the University of Natal, a certificate in Foreign Exchange Markets and an MBA in Advanced Corporate Finance from the University of Pretoria (GIBS Campus).
After a successful career in Forex: Treasury in SCMB, Bungane was recruited to help establish a Corporate Forex Desk at Real Africa DuroLink Investment Bank. He later returned to SCMB, were he launched and headed up the Forex Sales: New Business Development Unit. He later became a Director in the Corporate Banking Division (SCMB CBD) in charge of the Public Sector Unit, Food and Agri-ceutical Sector Unit and the Pretoria SCMB CBD.
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