Reginald Muzariri

AFCORP Principal

Reginald Muzariri

Professional Experience

  • Reginald is a Chartered Accountant with over 25 years experience in the fields of corporate restructurings, commercialisations, project finance, corporate finance and investment banking. Previous employers include Ernst & Young, Coopers & Lybrand, New Africa Investments Limited (“NAIL”) and Absa Corporate and Merchant Bank. Reginald recently left Utho Capital to work with Zopica.
  • He has extensive experience in:
    • Advising on Infrastructure Projects such as Public Private Partnerships, including developing and reviewing detailed financial models for the value assessment, as part of the feasibility study. Also reviewed project finance models developed by various banks, as advisors to various bidding consortiums in PPPs.
    • Financial modelling, economic feasibility and project viability studies
    • Structuring, advising and implementing transactions in all aspects of the corporate finance field including mergers and acquisitions, IPOs, valuations, due diligence and investment banking
    • Sourcing and evaluating private equity/venture capital investment opportunities, overseeing the due diligence and monitoring the investments on an ongoing basis, including attending board/management meetings, setting strategic objectives/annual business plans and general management
    • Advising, designing and implementing privatization/commercialization strategies
    • Identifying viable investment and economic opportunities/projects and packaging them in an investor friendly format
    • Review of accounting systems and management information systems

Select Client Experience

  • Reginald has served as Fund Manager for the Utho SME Infrastructure Fund. The Fund was capitalised at approximately R62 million. The Fund made 10 investments and to date has made 3 successful exits with returns in excess of 27% in each case.
  • The Fund currently has 7 active investments which are being nurtured with a view to exits from 2020 onwards
  • ZPC (recently achieved financial close): Advising the Zimbabwe Power Corporation on a capital raising project to upgrade the Kariba Dam and Hwange power stations in Zimbabwe.
  • Arivia: part of the transaction advisory team responsible for review Arivia.kom’s contracts and business case culminating in the successful disposal of the business of Arivia to T-Systems
  • Richemont: part of the due diligence involved in the detailed due diligence review of Multichoice Limited on behalf of Richemont
  • Department of Environmental Affairs – Co-Lead Financial Advisor to DEA, in respect of the feasibility study and possible PPP procurement of a new environmentally friendly building for DEA. Involved in overseeing and reviewing financial models developed by the preferred bidder and the DEA transaction advisory team. Responsible for leading negotiations from a financial perspective and reviewing financial aspects of the PPP agreements, including lender term sheets and agreements.
  • Eastern Cape Department of Health – Lead Financial Advisor to the Eastern Cape Provincial Government, in respect of the feasibility study and procurement of the pharmaceutical distribution to hospitals and clinics. Involved in overseeing and reviewing financial models developed by the preferred bidder and the ECDoH transaction advisory team. Responsible for leading negotiations from a financial perspective and reviewing financial aspects of the PPP agreements, including lender term sheets and agreements.
  • Department of Trade & Industry – Co-Lead Transaction Advisor to the dti in respect of the feasibility study and PPP procurement for a one stop sustainable office accommodation campus. This was the first major office accommodation PPP to be concluded in South Africa. Involved in overseeing and reviewing financial models developed by the preferred bidder and the dti transaction advisory team. Responsible for leading negotiations from a financial perspective and reviewing financial aspects of the PPP agreements, including lender term sheets and agreements.
  • Murray & Roberts – Lead BEE advisor to Murray & Roberts on various PPP office accommodation and prison services tenders including Department of Water Affairs, Department of Education, as well the bid for the COEGA IPP
  • Advising Sasani on the disposal of their entire business. Overseeing the team that advised the Sasani board on the disposal of the entire business.
  • Advising SAWIT on the structuring of a BEE consortium to acquire a 25% stake in KWV Ltd
  • Advising IDC on the disposal of their stake in Algorax to a BEE consortium
  • Advising Transnet on the disposal of their stake in Fleetcall to a BEE consortium
  • Advising Management and Staff on the MBO acquisition of a 100% stake in Transmed Pharmacies from Transnet
  • Advising Smartec on the disposal of a 25% stake to a BEE consortium
  • Due diligence investigation of Congolese Wireless Networks for Vodacom International