- Transaction structuring advice across the capital structure
- Investor and marketing strategy advice
- Financial modelling and preparation of marketing materials
- Due diligence preparation
- Private placement of equity and/or debt
- Negotiation and closing
Africa Merchant Capital is a privately owned boutique merchant bank, focused on the high growth private markets of Sub-Saharan Africa. The AMC Group has specialist business units providing trade finance and asset finance to small and medium enterprises in the African mid-market and also provides market leading corporate finance advisory services. From the AMC Group balance sheet, we participate in renewable energy and last-mile fibre infrastructure projects in the region.
AMC fills a finance gap in the African private capital markets which is too small and insignificant for global financial institutions and too substantial to be funded by the local finance providers. The team draws from multi-disciplinary professional experience including corporate finance, merchant banking, investment management, consulting, advisory and personal investment in the region.
Our track record includes successful transactions in the FMCG, agri-processing, mobile media, real estate, mining, ITC and healthcare sectors from West to East and Southern Africa.
From our base in London, our business model is partnership driven. We travel to the region and work with chosen local partners to manage transactions and provide on-the-ground relationship verification and due diligence.
We come from Africa and are personally invested in Africa.
Cobus co-founded Africa Merchant Capital in 2012. Prior to founding AMC, he served as Principal for Africa at Templewood Merchant Bank. His professional experience includes corporate finance advisory, merchant banking, business consulting and auditing, as well as personal investing in Africa. Cobus qualified as a Chartered Accountant with PricewaterhouseCoopers in South Africa, spending the last 5 years of his time in the Global Risk Management Services division. Cobus also pursued a successful professional rugby career, representing South Africa and playing professionally in both the Southern and Northern hemisphere. Cobus holds a B.Comm (Hons) degree from the University of Stellenbosch.
Jan co-founded Africa Merchant Capital in 2012. Previously, he served as a Senior Associate at Templewood Merchant Bank in London. In this role Jan worked in the principal investing and advisory sectors of TMT, Energy, Industrials and Real Estate, involved in all aspects of the transaction cycle from origination to distribution. Prior to this, Jan worked 7 years at Wells Fargo and Barclays PLC in London. Before moving to the United Kingdom, Jan qualified as a Chartered Accountant with PricewaterhouseCoopers, South Africa. Jan holds a B.Comm (Hons) degree from the University of Stellenbosch and is a CFA Charterholder.
Waldo is the Managing Director and co-founder of AMC Trade Finance. Waldo was previously Head of Structured Finance and Head of Credit for GLI Finance, as well as a board member of Legion Trade Finance in London, UK. Waldo has spent over a decade in various buy-side private equity and credit analyst roles with a particular focus in structured trade & working capital finance, securitisation, origination and portfolio management across a variety of sectors. Waldo holds a B-Tech (Hons) degree in Financial Information Systems from CPUT, Cape Town.
Milko is the Managing Director of AMC Advisory and AMC Infrastructure. Milko is a seasoned investment professional and has held leading roles in various Africa-focused private equity funds, with AUM in excess of USD 4 billion, over the last 20 years. Prior to joining AMC, Milko was the Managing Director for Structuring at Quantum Global, across 7 funds, and prior to that he was a Senior Banker at the Development Bank of Southern Africa and Principal at the National Empowerment Fund of South Africa. Milko has advised private equity companies and corporate clients on both acquisitions and disposals across the Energy, TMT, Logistics, Healthcare and Hospitality sectors. Milko holds an MBA and a MAP from the University of the Witwatersrand.
André is a seasoned merchant and commercial banker, having headed up structured trade and commodity finance departments at Rand Merchant Bank, Standard Bank, Absa Bank and First National Bank in South Africa. Andre also gained in-depth expertise in logistics, project management and general management whilst employed by South African Breweries (SABMiller) and asset management, bond trading and securitisation whilst employed at Kiwane Asset Management. His extended banking career includes experience in credit management, marketing, deal origination, project finance, corporate finance and property finance. André holds a B.Comm (Hons) degree from Rand Afrikaans University (now University of Johannesburg) and an MBA from the University of the Witwatersrand.
Andrew is the Head of Credit at AMC Trade Finance. He is an African trade and asset finance specialist and was previously Director of Credit and Risk for African focused commodity trade finance investment manager, Scipion Capital. Over the course of the last 30 years, he has held director and partner level positions at Clydesdale Bank, Nedbank (London) and Citibank (London) in the field of Structured Trade Finance, Credit and Commodity Finance. As a born Zimbabwean, Andrew’s grounded knowledge of Sub-Sahara Africa, was a cornerstone in developing both Nedbank and Citibank’s trade finance product offering for the region.
Markus is a Principal in AMC Advisory and is based in Cape Town. He has extensive experience in financial services, having worked in capital and debt markets in Africa for the last 20 years where he has worked mostly in the arenas of commercial and development finance. He was the Head of Corporate Finance for 6 years at a reputable South African agricultural finance institution where he was responsible for implementing unique funding structures to support the agricultural industry. In his capacity as a Private Equity investment professional he has been responsible for various project developments in agriculture, timber and infrastructure projects, including West Africa. Markus holds an M.Comm degree in Business Management from the University of Johannesburg.
Dirk is a Principal of AMC Asset Finance and based in South Africa. Dirk was previously Head of Credit for Infrastructure Finance Corporation (INCA) and headed up the Commercial Asset Finance business unit for Merchant West. Dirk has spent more than 15 years structuring off-balance sheet asset finance transactions and built up various asset rental books with key suppliers. Dirk is a dealmaker and has also been involved in various private equity transactions in South Africa and Sub-Saharan Africa. Dirk holds a B.Comm degree from University of Cape Town (UCT) and is a registered Chartered Accountant with SAICA.
Hannes is a deal originator for AMC Trade Finance based in Cape Town. Over a period of 35 years Hannes was a dealmaker at Absa Bank, First National Bank, as well as Transnet in South Africa, where he developed new structured trade finance solutions and products, including evergreen and back-to-back collateralised finance, ECA finance and SAFEX and derivative trading. Hannes holds a B.Comm degree from the University of Stellenbosch, B.Comm (Hons) from Unisa, M.Comm (Entrepreneurship) from Rand Afrikaans University (now University of Johannesburg) and several bank and financial diplomas, including Advanced Commercial lending from the International Finance School of London. In 2014 the Institute of Bankers of South Africa awarded Hannes a honouree title of a Professional Banker.
Paul is the Commercial Manager of AMC Trade Finance and a seasoned professional with more than 30 years banking experience. His career of 40 years has focused towards trade finance and working capital solutions. Working primarily with UK and European businesses, trading across the world and funding purchase of Finished Goods, Apparel, Electronics & Machinery. He previously worked in major UK banks, including Lloyds and Fortis Bank, along with a number of further independent working capital solution providers.
Savvina serves as the right hand to each of the Directors in the AMC Group. She is an integral part of the team, both within the London and South African office, with responsibilities within our HR, Compliance and Accounting departments. Savvina has spent the last decade in a variety of roles including IT Service Desk Manager, Compliance Officer, Marine Safety and Quality Officer and various other roles within the currency trading and shipping industries within the UK and Cyprus. Savvina holds a degree in Graphic and Advertising Design from Frederick University in Cyprus.
Gavin is the Head of Operations at AMC Trade Finance. With over 30 years’ experience in International Trade, he spent the majority of his career working for the largest banking institutions in Southern Africa, heading up their Trade Finance Operations division. Gavin brings a skillset that includes both vanilla and structured trade finance. Gavin also spent extensive periods working in Mozambique and Tanzania for large banks, including Barclays Africa and Absa, implementing processes to minimise their risk in international trade and payments. Furthermore, his experience has allowed him the opportunity to work for large multinational logistics companies as part of a specialised team to set up a division to offer trade finance capabilities to service existing and new clients. Gavin has a diploma in Treasury Management and Trade Finance.
Janine is the Head of Middle Office for AMC Trade Finance and has 30 years of banking experience, including Absa and Rand Merchant Bank in South Africa, as well as Sumitomo Mitsui Banking Corporation Europe Ltd and Societe Generale in London. Janine has worked in Trade Finance, Structured Trade Finance and Commodity Trade Finance teams, managing import and export finance instruments and managing risk for hard and soft commodity traders.
Mouniah is the Middle Office Manager of AMC Trade Finance. Her career evolved from treasury and credit control roles, including Treasury Manager at Procorre in Geneva and London, giving her the opportunity to pilot ERP integration projects, manage group-level bank accounts and liquidity exposures, and also specialising in debt age analysis. Her career started as an execution trader in precious metals in Switzerland, following her Masters Degree at the Graduate Institute of International Studies in Geneva, Switzerland.
Clint is a Credit Analyst at AMC Trade Finance. Prior to joining AMC, Clint held various management roles with John Holland Group and Kerman Contracting, where he facilitated the execution of EPC and O&M projects in the Mining and Oil & Gas sectors in Australia. Clint holds an MBA from EADA Business School, Spain, an Advanced Diploma in Civil and Structural Engineering from EIT, Australia and has completed level 1 of the CFA program.
Callie is a Credit Analyst at AMC Trade Finance. Prior to joining AMC, Callie worked at Goldman Sachs and was part of the FICC controls team. In his time at Goldman Sachs he had exposure to the EMEA High Yield and Distressed markets. Callie completed his articles at RVN Chartered Accounts Inc in South Africa and is qualified to register as a Chartered Accountant with SAICA. Callie also pursued a successful professional rugby career, representing and captaining professional rugby teams in South Africa. Callie holds a B.Comm (Hons) degree from the University of Stellenbosch.
Peter has over 7 years of corporate finance experience, with a focus on Infrastructure, Financial Services, Agriculture and Consumer projects. Previously, Peter worked at EY for more than 8 years, the bulk of which were spent as a manager in Transaction Advisory. During this time, he gained experience in conducting financial due diligence assignments and valuations. He holds a B.BusSc (Hons) degree in Finance from the University of Cape Town and is a registered Chartered Accountant with SAICA.
Marna has joined the Africa Merchant Capital team to support the advancement of the financial systems and sophistication of reporting in the business. Previously, she has worked in various finance related positions for Nando’s UK. For the majority of her nine years at Nando’s she served as Head of the Business Analysis team. In this role she architected various internal processes, budgeting and reporting, whilst managing the team of qualified accountants who partner with the operations team to understand and improve financial performance. Marna qualified as a chartered accountant with PricewaterhouseCoopers, South Africa and holds a B.Comm (Hons) degree from the University of Stellenbosch.
AMC Advisory is the specialist corporate finance advisory business in the AMC Group with a dedicated focus on the high growth private markets of Sub-Saharan Africa.
The team draws from multi-disciplinary professional experience including corporate finance, merchant banking, private equity, logistics, healthcare, consulting, advisory and personal investing gained from global banks to SME’s.
Our corporate finance team advises on private middle market transactions with access to a range of different investor types from private equity funds, endowments and pension funds to Development Finance Institutions and family offices.
Africa Merchant Capital Advisory approaches its services by taking the time to gain a deep understanding of our clients’ objectives. Typically, capital raising is achieved through either a discreet mandate approach or a broad market sweep to targeted funders and investors who participate in syndications, co-investment or club deals.
We prefer to work with clients whom we can qualify through our network and have a proven track record. We take time to get to know our clients and our aim is always to be long-term advisors who can support them through the life cycle of the business.
Our typical clients will have:
AMC Trade Finance (AMCTF) provides flexible, secured, structured trade finance solutions.
Our model is transaction, rather than balance sheet driven, and our aim is to dramatically increase the availability of trade finance to inward and outward trade to selected African countries, with a particular focus on Sub-Saharan Africa.
The capital adequacy requirements of Basel III is making it increasingly difficult for banks to serve the multi-billion dollar African trade finance market. AMCTF’s bank-friendly trade finance solution empowers banks to service their customers whilst working with us in parallel.
Our methodology requires no changes to standard trade finance bank processes and procedures. We take great care of applying International Chamber of Commerce (ICC) best practice tools and techniques to the benefit of both buyers and sellers when structuring our trade finance solution.
Our major value-add is that we substantially enhance our clients’ working capital profile, enabling them to scale, whilst in full collaboration with existing banking relationships and without impeding on the bank’s collateral.
AMCTF provides flexible transactional trade finance for reputable sellers, traders or buyers with regular transaction flow. We assess each opportunity carefully and structure our facilities to match the transaction timeline, profitability and perceived risk profile.
AMC Asset Finance is the specialist Asset Finance division of the Africa Merchant Capital group of companies.
Our asset finance and leasing solutions complement our existing trade finance, renewable energy and corporate finance advisory businesses, thus broadening our bespoke merchant banking solution to the high-growth private markets of Sub-Saharan Africa.
The operational asset finance solutions provide our clients with the flexibility to manage working capital in a fast-paced business environment. We focus on the local enforceability of the contracts and the sustainability and viability of the business being financed.
Easy-to-understand rental finance for your client. Our off-balance sheet solutions will provide your client with the flexibility to manage working capital in a fast-paced environment.
At AMCAF we understand that time is money in today’s fluid business world. Delays in approvals and the release of funding can be expensive for all parties.
In a world where the only constant is change, AMCAF offers you the opportunity to upgrade or change equipment as needed. Upgraded equipment has the ability to increase revenue and profitability. Further, the optimal life span for assets is no longer determined by depreciation methods.
We understand the benefits of choice and do not limit ourselves to only a few brands or products. The flexibility this affords you will support your business growth and success.
At AMCAF we handle all the contractual requirements, leaving your sales force free to do what they do best – close deals.
Our clients see us as their procurement partner – we buy the assets they need and they rent them from us. We do not impede on the clients’ existing relationships with other lenders.
The rental charge is treated as an operating expense. Since our finance solution does not increase the gearing of the business, current banking facilities are left unaffected.
In most cases, wear and tear allowances in Africa are spread over longer periods than the actual useful life of the asset. Our rental solution allows clients to match the tax deduction with the actual life cycle of the asset.
The period from application to pay-out is typically only four weeks.
Our facilities range from $1m – $15m.
We require no deposit.
We allow our clients to determine the funding period, up to a maximum of 60 months.
Clients have a choice of two leasing structures:
Africa Merchant Capital Infrastructure (“AMC Infra”) draws on the multidisciplinary experience and skills of the AMC Group to invest in assets that match a long term hold strategy. We typically invest in late stage development infrastructure assets primarily in the telecoms, logistics and energy space, by partnering with like-minded investors and entrepreneurs.
By adapting our merchant bank philosophy, we help bring projects in development to fruition and we are continuously interested to hear from project owners who need additional funding to bring their high return, large-scale projects to financial close.