Dr Rufaro Mucheka.

Financial services company Jersey Finance has announced the appointment of Dr Rufaro Mucheka, a South African wealth management specialist, as the company preps to bolster service to the Africa region.

According to Jersey Finance Dr Mucheka has more than 20 years of wealth management experience across Southern and West Africa, and her most recent role was with Nedbank Wealth Management in South Africa.

Based in Johannesburg, Dr Mucheka’s primary focus will be the South African market, while Faizal Bhana, Director – Middle East, Africa and India at Jersey Finance, will continue to focus on developing the organisation’s strategies in both East and West Africa.

Both, however, will play a vital role in supporting Jersey Finance’s wider activity across the continent.

In January this year, Allan Wood, Global Head of Business Development at Jersey Finance, said based on the company’s research, capital raising and economic opportunities in Africa are substantial – and growing – particularly when it comes to sustainable finance and making impactful investment choices.

“While sustainable finance is growing in global markets, when looking through the lens of investment in Africa, much of this capital is being invested through corporations and private equity investors who are interested in developing technology, healthcare and infrastructure. Currently, the vast majority of transactions we see going into Africa are likely through private equity, but the private equity investors are asking the fund managers more about their impact and sustainable finance and the agenda within their prospectus,” he said.

In her consultative role, Dr Mucheka will work closely with Jersey Finance’s Global Head of Business Development, Allan Wood, who has been instrumental in the growth of Jersey’s Africa market strategy over the past six years, particularly in relation to South Africa.

A statement from the company reads: “A passionate advocate for the potential development opportunities arising across Africa, Dr Mucheka is well known as a contributor to international conferences on investing in Africa, internationalisation strategies and nurturing entrepreneurship. She is a member of the Golden Key International Honour Society, an advisory member of the Women in Tech (SA) movement, an International Campaign Advisor for the Cherie Blair Foundation for Women, a Certified Financial Planner professional (CFP) and holds an MBA and PhD from the University of Cape Town.”

Wood commented: “We view Rufaro’s appointment as an exciting move in our developing relationships across key markets on the African Continent. Jersey’s finance industry has been building commercial ties there for more than two decades, which has enabled us to develop a formidable appreciation of the African economic landscape.

“Rufaro’s special understanding and expertise will play an influential role in advising on how we build on that relationship as it continues to evolve; with Jersey increasingly active in facilitating investment in Africa by international investors, while also having the skills required to support private wealth strategies, cross-border investment and succession planning.”

Commenting on her appointment, Dr Mucheka said: “With Africa being a key strategic market for Jersey, and the Island continuing to support the continent’s impressive growth story, it is important for Jersey to partner with Africans who understand the African nuances to spearhead the growth. With Jersey’s positioning as a leading international finance centre, it has the international financial muscle and reputation to connect investors to opportunities at a global scale. I feel humbled to be part of this storytelling of connecting Jersey to Africa. It is all about making deliberate choices that make an impact. As Mahatma Gandhi said, ‘Be the change you want to see in the world.’”