Standard Chartered gets new leadership for Africa private equity division

 Ronald Tamale, a founding member of Standard Chartered’s Africa Private Equity division in 2008, will now head up the Bank’s regional investment arm in Africa, with immediate effect.
Standard Chartered Private Equity (SCPE) has invested over US$800 million in supporting expanding African companies, spurring growth with investment capital complimented by managerial, structuring and financial advisory expertise.

The Africa private equity division forms part of the Bank’s global private equity team with offices across the Bank’s emerging market footprint in Asia, Africa and the Middle East.

Since inception eight years ago, SCPE Africa has delivered tangible economic benefits for entrepreneurs and companies across the continent.  Successful initiatives include a secondary listing for a growing African retailer on the Johannesburg Stock Exchange; a US$74 million investment into the region’s growing power sector by backing Zambia’s Copperbelt Energy Corporation, as well as the privatisation of Union Bank of Nigeria in partnership with a consortium of investors.

Commenting, Joe Stevens, group head of Standard Chartered’s global private equity division, based in Singapore, “Africa continues to provide dynamic private equity investment opportunities despite current commodity price and currency volatility.  We are confident in the long term investment potential within the continent, and pleased to have Ronald Tamale at the helm as we build on our success, and continue to support Africa’s entrepreneurial spirit.”

Ronald Tamale will be leading a team of eight private equity specialists within the Bank’s Africa team, and will draw upon sector and other specialists from across the SCPE platform as the Bank drives growth in its existing portfolio, capitalising on the substantial Africa private equity opportunity going forward.  Prior to joining Standard Chartered, Ronald spent 6 years at Goldman Sachs in the US before relocating to Africa from his role as Senior Associate within the US investment giant’s investment banking division.

Ronald will report to Taimoor Labib, head of Africa and Middle East private equity.  Taimoor joined the Bank in March 2010 as the Regional head of Middle East and North Africa (MENA) Private Equity, and has overseen US$660 million of successful investment in the MENA region.  For the last three years, Taimoor gained additional responsibilities across the Bank’s global footprint as Head of Global Private Equity portfolio management, in addition to his MENAP role.  In Taimoor’s new capacity as Head of Private Equity for Africa and the Middle East, he brings 20 years of international and regional investing and advisory experience to the Africa platform, and the commitment and vision to execute the strategy together with Ronald and the team.