Irnest Kaplan, CFA
Verified Expert in Management Consulting
Management Consulting Expert
Johannesburg, South Africa
Toptal member since January 19, 2023
Irnest is experienced in equity valuation, financial forecasting, and business modeling, with over 20 years as a top-rated equity analyst covering the technology sector. In South Africa, he was rated in the top five for 17 consecutive years to 2022 and number one in 2022. Irnest has consulted for many companies as an advisor in investor relations and M&A activities. He follows global tech with a passion. He is a CFA charter holder with a degree in electrical engineering.
Career Highlights
Education Highlights
Case Studies
New Business Model
Investor Advisory Engagement
Expertise
- Benchmarking
- Business Modeling
- Consulting
- Equity Research
- Equity Valuation
- Financial Modeling
- Forecasting
- Investor Relations
Work Experience
Managing Director
Kaplan Equity Analysts
- Founded Kaplan Equity Analysts as an independent equity research and advisory consultancy. Specializing in the technology and telecommunications sectors.
- Covered the local listed technology sector as an independent sell-side equity analyst. Rated in the top five in my sector for 17 consecutive years from 2006-2022. Ranked number one in 2022.
- Marketed my research and ideas to local fund managers in South Africa. Got paid for my efforts either via brokerage commissions at partner brokers or direct payment from the asset manager.
- Consulted to several listed tech companies on their investor relations activities through long-term multi-year engagements. Helped them to get the right message across to investors and to build a stronger investor interface.
- Completed 55 advisory projects over 17 years, primarily for large multinationals and listed clients. Projects include valuations to support M&A, acquisition support, business modeling, benchmarking, and helping with capital allocation decisions.
- Quoted many times in major South African business publications (Business Day, Financial Mail) and interviewed on various financial television and radio shows (CNBC Africa, Business Day TV).
Equity Analyst: Telecommunications
Societe Generale
- Managed sell-side equity research on the South African telecommunications sector.
- Initiated coverage on the major telecommunications-listed entities. Understood the companies, met management, built financial models, performed valuation, and wrote sell-side reports.
- Marketed my research in person to buy-side investment houses. Primarily local; however, I also went on several roadshows to European investors.
- Hosted, chaired, and spoke at several events, including a telecommunications debate with key South African telecommunications industry stakeholders.
eCommerce Strategist
Unihold
- Oversaw the build up of an eCommerce division within the Unihold group.
- Researched the market to source a suitable company for synergistic acquisition. This included sourcing, negotiations, and due diligence.
- Conceptualized and drove the creation of a new product range of business-focused web applications.
- Gained a deeper understanding of writing a good business plan for the eCommerce division.
- Spearheaded eCommerce sales, consulting, and account management. Managed several large clients for the division.
Account Executive (and later) Product Manager
The Internet Solution (now Dimension Data)
- Oversaw the sale of web development work and projects in the early days of the internet in South Africa.
- Consulted with customers on various internet-related projects. This included integrations and security.
- Managed several key clients, including one of the largest banks in South Africa (Investec) and one of our large mobile operators (MTN).
- Conceptualized and drove the creation of a new product range of business-focused web-modules. (In my later role as product manager).
- Developed product specifications and pricing and developed sales collateral for the new web modules.
Strategy Consultant
Andersen Consulting (now Accenture)
- Guided the turnaround of a bank.
- Assisted the business process re-engineering.
- Assisted with activity-based costing.
Education
CFA Charter in Chartered Financial Analyst
CFA Institute - Charlottesville, Virginia, United States
Bachelor of Science Degree in Electrical Engineering (with Distinction)
University of the Witwatersrand (WITS) - Johannesburg, South Africa
Skills
Finance
Equity Valuation, Equity Research, Financial Modeling, Forecasting, Equity Research Analysis, Accounting, Mergers & Acquisitions (M&A), Free Cash Flow (FCF), Valuation, DCF Valuation, Market Research
Output Software
Microsoft Excel, Microsoft Word, Microsoft PowerPoint
Geographic Expertise
Africa, South Africa, Nigeria
Other
Creative Problem Solving, Financial Analysis, Sell-side, Investor Relations, Business Modeling, Benchmarking, YCharts, Koyfin, Mathematics, Consulting, Sales, Account Management, Growth, Advisory, Capital Allocation, Electrical Engineering, Turnaround, Product Management, Practice Management, Team Building, Models, Sensitivity Analysis, Financials, Market Sizing, Trend Analysis, Data, Edge Computing, Artificial Intelligence (AI), Cloud Computing, Investor Relations Consultant, Investor Presentations, Investor Reporting, Storytelling, Modeling, Mobile, Company Analysis, Company Strategy, Competitive Analysis, Management, Investing, IT Services, Distribution, Strategy, M&A Strategy
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