Nedbank Capital has appointed Sekete Mokgehle as the head of its global structured trade and commodity finance. In his new role, he will take responsibility for both the Johannesburg and London-based teams.
Sekete takes over from Rudolph van Schalkwyke, who has moved to head the risk and African operations of the newly formed investment banking entity.
The new appointment follows a new arrangement where the specialised finance and investment banking units have been organised into a single banking unit, with one profit and loss account.
Sekete was previously with the bank’s infrastructure project finance team, and has over 14 years investment banking experience, with nine years spent in the project finance market.
“Nedbank’s global structured trade and commodity finance is a trade and a commodity-based financing business, focusing on commodity producers and importers, trading companies and manufacturers doing business in the developing markets,” comments Sekete.
Summarising the business lines within his division, Sekete adds: “The business focuses on typical trade and commodity financing solutions by providing liquidity management and risk mitigation for the production, purchase and sale of raw, semi-refined, semi-processed materials or the exporting and importing of equipment and other tradable finished products and services. The funding solutions include a variety of pre-export finance, collateral management, receivables financing, and others. Forfaiting is able to assist exporting customers as well as secondary market financial institutions by providing fixed-rate without recourse discount of post-shipment letter of credit receivables, promissory notes and bills of exchange. The team also provides risk mitigation for sight or short-term deferred payment letters of credit for worldwide country risks.”