Michael Makate

I am a seasoned financial markets executive with over 13 years of experience in
stockbroking, trading, investment management, and financial governance. As the
Chief Executive Officer of Vunani Securities, a Licensed Financial Services Provider
(FSP) with a Category 2 Licence, I lead the firm’s strategic direction, ensuring the
highest standards of governance, regulatory compliance, and market innovation.
In my current role, I work closely with the board and senior leadership to craft and
execute Vunani Securities’ business strategy, oversee risk management processes,
and drive key initiatives, including the establishment of the Vunani Private Clients
division. I am responsible for ensuring strict adherence to the JSE’s rules and
regulations, and for optimizing operations to support the effective execution of equity and derivative
transactions for our clients.

My professional experience spans several leading financial institutions, where I have developed deep
expertise across the trading, operations, and compliance value chain. I previously served as an Equity Trader
at ABSA Stockbrokers & Portfolio Managers, where I managed and supervised the trading desk, executed
trades across local and offshore markets, and provided strategic trading insights to both private and
institutional clients. My earlier roles at ABSA Capital, Newstrading, and KPMG provided a solid foundation in
derivative settlements, futures clearing, risk management, auditing, and financial reporting — equipping me
with a holistic understanding of the financial markets ecosystem.

I hold an MBA and a Postgraduate Diploma in Business Administration from the University of South Africa
Graduate School of Business Leadership (UNISA SBL), and I am a Registered Stockbroker and Council
Member of the South African Institute of Stockbrokers (SAIS). In addition, I hold the International Certificate in
Wealth & Investment Management from the Chartered Institute for Securities & Investment (CISI, UK),
supported by advanced qualifications in Financial Markets and Accounting.

I am motivated by a strong desire to contribute to the advancement, integrity, and transformation of South
Africa’s financial markets. I believe that the South African Institute of Financial Markets (SAIFM) plays a
critical role in promoting ethical standards, professional development, and regulatory excellence within the
industry.