For immediate release

Incorporated in the Republic of South Africa

Registration number 1997/020641/06

JSE code: VUN ISIN: ZAE000163382

("Vunani" or "the company" or "the group")

RC No. :223042

VUNANI AND NIGERIAN BASED INVESTMENT BANKING GROUP BGL PLC ESTABLISH A PAN-AFRICAN ALLIANCE

Nigeria, 9 April 2014 - Vunani and BGL Plc, a Nigerian financial services group, are pleased to announce that they have signed a cooperation agreement whereby they will seek to jointly originate and execute cross border transactions throughout Africa, with West African and Southern African markets being key target markets. In terms of the agreement, the companies will also seek to co-invest in business ventures across Africa.

Managing Director of Vunani Limited, Butana Khoza, commented, "It is fitting that Vunani is signing this cooperation agreement in the week that Nigeria is deemed to have become the largest economy on the African continent. The process to find a strong strategic partner in Nigeria started more than a year ago and we are extremely excited to have found a good strategic partner in BGL Plc.

"Vunani has aspirations to be a strong pan-African financial services group and that would be very difficult to achieve without access to Africa's largest economy. It is also apt that BGL has similar aspirations and our cooperation will not be limited to South African and Nigerian transactions."

BGL Plc, founded in 1993 as Banc Garanti Limited, is an established financial services group headquartered in Lagos, Nigeria. Through its various locations across Nigeria, the group provides a range of investment banking, securities trading and asset management services to clients that include Government, Corporations, Financial Institutions and Ultra High Net Worth Individuals across West Africa.
Chibundu Edozie, BGL Group Deputy Managing Director commented: "The emergence of Africa as a powerful investment destination and the continued opening up and development of the continent's financia l markets, has encouraged us to internationalise our operations with plans for a footprint in key growing African Markets and also in developed Western Markets. In line with this strategy, this agreement with Vunani will help strengthen our origination and distribution capabilities in Southern Africa."
Butana Khoza concluded: "This strategic alliance with BGL allows us to access opportunities across the spectrum of our respective business segments; the immediate opportunities being in asset management, corporate finance, and stockbroking. We envisage this partnership unlocking significant opportunities for our respective clients and business opportunities for our respective groups."

ENDS

For immediate release

Enquiries:

Vunani +2711 263 9500

Butana Khoza, MD

Instinctif +2711 447 3030

Louise van der Merwe +2771 605 4294
Nicholas Williams +2782 600 2192

BGL Plc

Chibundu Edozie +234 8033040423
Loraine Awoonor-Renner +234 7034125832
Tobiloluwa Alamutu +234 8087185725

Note to Editors: About Vunani

Vunani Limited is a black owned and managed financial services company that operates through the following
segments:

Asset Management

Investment Banking and Advisory

Investment Holdings

Securities Broking

Properties Investments and Developments

Asset Management includes institutional and private wealth management businesses, hedge fund of funds, private equity fund of funds and collective scheme management as well as shareholding in various other asset management businesses.
Vunani's Investment Banking and Advisory segment covers a broad range of services including advisory services, JSE sponsor and designated advisor services.
Investment Holdings includes investments in both listed and unlisted companies.
Securities Broking includes a research product offering as well as agency based equities, derivatives and capital market trading businesses.
www.vunanilimited.co.za

About BGL Plc

BGL Plc is an indigenous financial services group headquartered in Lagos, Nigeria.
Founded in 1993 and formerly known as Banc Garanti Limited, BGL Plc commenced business as a Bank holding company with the aim of acquiring distressed or underperforming institutions in the Banking Sector. The group has since expanded its Investment Banking business to become one of Nigeria's most successful Financial Institutions and a very influential member of the Nigerian Stock Exchange.
With several locations throughout Nigeria, BGL is uniquely positioned to provide unrivalled full-fledged investment banking services. The Group provides a range of advisory services and products to clients that include Government, Corporations, Financial Institutions and Ultra High Net Worth Individuals.
www.bglgroupng.com

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