Wavemaster is a small ski manufacturer in Scottburgh, south of Durban. You don't say which Wavemaster ski you are looking at, but I can only comment on the Wahoo SLSA spec ski.
Being a spec ski, the Wahoo is strong and also subject to the minimum weight requirement of 18kg. It is slightly more unstable than an entry level ski like the Horizon, but is still suitable to learn on : our club has 5 of them which we use for our surfski school.
Build quality is pretty good with the only problem being the rudder: the post is not very well embedded in the blade and we have had to replace all our rudders with better Custom Kayaks units. Bear in mind that our club skis take a fair bit of abuse, though!
Speed is pretty much as expected for a spec ski, which is at best equal to an entry level ski like the Horizon, so if speed is important, rather look elsewhere.
Bottom line is that its a spec ski, so great for playing in waves and pretty indestructible, and as spec skis go its not bad at all!