Boutique investment bank DAI Magister has announced the appointment of seasoned investment banker Risana Zitha, who will lead DAI Magister’s Africa branch as Managing Director. Risana brings with him over 20 years of experience, having worked on 20 mergers & acquisitions (M&A) totalling more than $43 billion, plus 16 equity capital markets transactions (ECM) totalling $10 billion.
Risana is one of the most notable investment bankers in Africa and joins DAI Magister’s Africa branch following several years at Renaissance Capital, an emerging and frontier markets investment bank. Here, he was Head of Africa Investment Banking and Chairman of Rencap South Africa between 2019 and 2022.
Previously, Risana spent 18 years with Morgan Stanley in New York, London and Johannesburg. His roles within Morgan Stanley included Managing Director and Head of Investment Banking, Sub-Saharan (ex SA) and Managing Director and Head of Investment Banking South Africa coverage.
During his career, Risana has executed mergers and acquisitions and capital market transactions in multiple sectors, such as TMT, consumer, energy & utilities and natural resources. Select notable transactions include advising on an AP Moller Capital led consortium on the acquisition of 49% of KEG Holdings Limited, Leapfrog’s sale of 30% of Goodlife Pharmacy to CFAO Healthcare, Helios Tower PLC’s £250 million London Stock Exchange initial public offering, the $2.3 billion sale by Telkom of 15% of Vodacom to Vodafone and the unbundling of Vodacom and NTT’s £2.1bn acquisition of Dimension Data Holdings Plc.
Combining decades of corporate and investment advisory experience, Risana will work collaboratively with Victor Basta, Co-head at DAI Magister, who will continue to be active in developing the firms Africa branch.
Co-Head at DAI Magister, Victor Basta, said: “Risana is one of the most prominent investment bankers operating in Africa right now. Having him not only join the DAI Magister team but head up our Africa branch is going to have a significant impact on our presence in the market. Risana brings an unrivalled depth of expertise handling transactions for both large corporates and growth companies across the continent and a drive to help African founders and key stakeholders succeed.
“Alongside our talented team, Risana is set to unleash the potential of African companies and strengthen our presence in the market. It’s going to be an incredible journey ahead.”
Risana Zitha added: “It’s a great privilege to be joining the DAI Magister team, and I’m delighted to be working alongside Victor. Africa is a key market with ample opportunity for significant growth, so I’m looking forward to using my extensive knowledge in M&A and capital raising, alongside my in-depth market know-how to deliver success for our clients with winning solutions.
“DAI Magister has a track record of bringing about significant transactions that shape and evolve the markets, and I’m excited to be a part of the future growth strategy.”
Supported and backed by DAI, one of the largest global development firms in the world, DAI Magister is a boutique investment bank offering full advisory services for transactions within the climate, fintech, tech-enabled commerce and communications sectors.