Jotham Makarudze, CFA

Experience

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  GCR Ratings

  Jan 2007 - Jan 2009

  Credit Analyst

  Managed a portfolio of >30 corporate entities in Africa (Kenya, Uganda, Tanzania, South Africa, Zimbabwe, Ivory Coast, Nigeria and Ghana). Assessed and quantified risk in the areas of credit, liquidity, market & operational risk. A key project was working closely with World Bank on a credit assessment of water utilities in East Africa.

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  Krutham

  Jan 2010 - Jan 2014

  Senior Investment Analyst

  Performed detailed research, financial analysis and valuation of both listed and unlisted companies in the Telecommunications, Retail, Construction, Industrials and Banking sector. Supervised and trained a team of junior analysts. Key duties included compiling sell-side research, applying valuation and risk modelling techniques, disseminating research and compiling client presentations.Special Notes:● Managed a portfolio of African shares listed in Nigeria, Kenya, Zambia, BRVM and Zimbabwe.Appeared on investment focused TV programs on CNBC Africa, discussing equities investments, market insights, valuations and risk profiles. Show less

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  Development Bank of Southern Africa (DBSA)

  Feb 2014 - Sept 2023

  Head a team of credit risk analysts in delivering a risk management function founded on best practices and effectively executing the credit strategy. Also serve as credit risk thought leader and advisor to executive management.Key Projects (2014 – present):● Khanyisa Coal Baseload Project (R14 billion)● Thobela Telecomms Broadband Project (R860 million)● Kathu Solar Park (Concentrated Solar Power – CSP) Project (R5.6 billion)● Cell C Recapitalisation and Restructure (R7.5 billion)● Restructuring on the Abengoa Projects – Kaxu Solar One (R5.9 billion), Khi Solar One (R2.7 billion) and Xina Solar One (R6 billion)Special Notes:● Reduced Turnaround Time by >50%.Faced an environment of outdated credit risk methodologies and processes – hampering turnaround. Initiated research, wrote a report and made recommendations. Presented to senior management. Subsequent approval of improvements reduced turnaround from 5 to 2 days.● More Effective Risk Monitoring.Developed an automated Excel covenant monitoring system and advised on setting parameters for SAP. Direct benefits included effective risk exposure monitoring. Excel system was adopted as backup.● Innovation, Astute Leadership.Injected innovation in developing solutions and improving processes. Provided astute technical leadership to the Exco in Credit Risk. Show less Led credit assessment and deal structuring for South Africa and international transactions, for projects in the Energy (largely renewable), Transport, Information & Communications Technology (ICT) sectors. Key functions included credit applications, risk appraisal, providing in-depth analysis of financial, economic metrics, monitoring credit risk of the existing portfolio and managing high risk clients.Special Notes:● Large Infrastructure Credit Deals.Key deals included large-scale infrastructure transactions such as bus rapid transit systems, port infrastructure; and others such as student housing, and broadband fibre projects. See details under above position – many of which were initiated between 2014-2016 with some finalised in 2017. Show less

  • Credit Review Analyst

    Jan 2016 - Sept 2023

  • Credit Analyst

    Feb 2014 - Jan 2016
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  Ashburton Investments

  Sept 2023 - now

  Head of Credit Research