Idwala Capital was founded in 2017 on the back of the need for a credible fixed income solution within South Africa, utilising the infrastructure of an established and experienced management team.
The hedge fund was launched on 1 July 2017 under the juristic license of Oakhaven Capital and acquired its Category IIA FSP license in December 2017.
In April 2018, Idwala Capital broadened its shareholding structure to incorporate an additional shareholder and BEE Employee Trust for the purposes of future employee attraction and retention.
The shareholding structure is as follows; Nandi Rodolo holds 41% of the equity in the business, new shareholder and Chairman Kennedy G. Bungane holds 5% and the Employee Trust hold 5% of the black majority. The remaining 49% equity is held collectively by Byron Green, Bruce Thistlewhite and other Oakhaven Capital directors.
The business is still controlled by founding partners.
Kennedy is the chairman and shareholder of Idwala Capital, and CEO of Phembani.
Kennedy joined Phembani in August 2014 and led the team in concluding the merger between Phembani and Shanduka. He has since been at the forefront of harmonising the two entities, formulation and execution of the strategy to build a BEE-controlled pan-African Industrial holdings giant.
Before joining Phembani, Kennedy served as Chief Executive of Barclays Africa Limited in 2012 with responsibility for 13 banks in the rest of Africa. Kennedy led the sale of Barclays Africa Limited to ABSA Group Limited in a transaction that led to the formation of Barclays Africa Group Limited in September 2013, and then led the formulation of the “One Barclays in Africa strategy”
Prior to joining Barclays, Kennedy was employed at Standard Bank of South Africa (“SBSA”) since 1992. Wherein he rose through the ranks to serve as a member of the Standard Bank Group Executive Committee and the Chief Executive of Corporate & Investment Banking from 2009 to May 2012. During his tenure, Kennedy helped grow SBSA CIB and it was at that time,SBSA CIB became the largest Corporate and Investment Bank by assets and profitability in Africa.
Nandi Rodolo (nee Sithole)
Nandi Rodolo started her career as a graduate trainee at Eskom Holding Treasury division. Then held several management and senior management roles in the Finance division at Standard Bank and later became an Executive in the Treasury and Global Market environment, heading up the Institution funding and Institutional Money Market and Foreign Exchange team until 2013.
She then joined ABIL as the head of Investor relations where her role involved stakeholder engagement. After a brief stint in business she then worked for MTN Group services as the head of treasury for MTN holdings and International Mauritius.
Byron has been active in the South African asset management industry for over 20 years, initially in an advisory and consultancy capacity, and later in the fund of fund arena. For the last 10 years, Byron has been actively involved in the hedge fund industry, as a product designer and allocator.
In addition to this, he has extensive experience in the structural, operational and risk management aspects of the industry.
Bruce Thistlewhite is one of Idwala Capital’s team of three investment professionals, and represents the interest of Oakhaven Capital in the business. He joined Johannesburg-based Oakhaven Capital in August 2015, teaming up with former Standard Bank colleagues Johan Roos and Jeremy Berman on the investment side.
Thistlewhite started at Standard Bank in 1999, helping with the euro conversion before joining the money market desk in May 2001, where he became director and head of money market trading and funding by the time he left in 2010.
He managed the liquidity, funding and interest rate risk for the rand and foreign currency portfolios for the bank together with asset and liability management. He managed a staff of 25 people, also sitting on the bank’s asset and liability management committee.
Conflict of Interest Policy
Sound corporate governance at all levels is a prerequisite for all financial services companies. In line with these principles, the document outlines Idwala Capital’s policy with regards to Conflicts of Interest. Click here to download.
© Idwala Capital (Pty) Ltd is an Authorised Financial Services Provider: License Number 48813
Reg. No. 2017/101129/07
DIRECTORS: Nandi Rodolo, Byron Green, Bruce Thistlewhite