Japanese banking giant Nomura is set to open an office in South Africa, known as Nomura South Africa, on 4 April 2016.

The new branch, based in Cape Town, will boost the bank’s ability to provide local and international clients with investment banking services in the country and enable expansion across sub-Saharan Africa.

Additionally, the firm has hired Jan Newman and Ben Lowther from Newman Lowther & Associates to lead its newly-established branch office.

Newman has been named as head of Nomura South Africa and head of investment banking, South Africa, while Lowther will become co-head of investment banking in South Africa.

Nomura South Africa aims to offer a range of investment banking and risk solution services to further support its current and new clients in the region.

Nomura head of EMEA Jonathan Lewis said: "The establishment of Nomura South Africa, led by Jan and Ben, will expand our global footprint and in-country capabilities in investment banking; and enable us to provide our clients with direct access to and insights on growth opportunities in sub-Saharan Africa."

Newman said: "We look forward to bringing an enhanced and broadened range of investment banking services to our clients in South Africa, the wider region and internationally."