Investment holding company Pembani on Tuesday announced that it had appointed outgoing Barclays Africa CEO Kennedy Bungane as CEO of the group with effect from August 1.

Prior to joining Barclays, Bungane had worked within the Standard Bank group, had been the National President of the Association of Black Securities & Investment Professionals and had been one of ten negotiators in the formulation of the Financial Services Charter in 2003.

“I am very pleased to welcome Kennedy to Pembani. The group is entering an exciting period of growth and Kennedy’s extensive commercial and regional experience will be invaluable as we invest in new opportunities,” Pembani chairperson Phuthuma Nhleko said.

Bungane stated that he was looking forward to helping drive the next phase of Pembani’s growth in select sectors across Africa.

Pembani held numerous investments in resources and industrial companies such as Engen, BHP Billiton Energy Coal South Africa, Exxaro and AfriSam.