South African investment company African Phoenix announced the appointment of Siyabonga Nhlumayo as its new Chief Executive Officer (CEO), with effect from 1 March 2018.
African Phoenix is an investment holding company with shares listed and tradeable on the JSE, and income generated through dividends received from its 100% owned subsidiary, Stangen life insurance company.
Nhlumayo graduated from the University of Cape Town with a Post Graduate Diploma in Accounting in 2001, where after he commenced his articles at PricewaterhouseCoopers and qualified as a Chartered Accountant.
He then spent two and half years at PricewaterhouseCoopers Transaction Services where he advised on a wide range of transactions.
He joins African Phoenix from Medu Capital, a black-owned Private Equity firm where he was a Partner and responsible for strategic development, investment execution and management.
Nhlumayo sits on various Medu Capital portfolio company boards and sub-committees and is a board member and treasurer of the South African Venture Capital & Private Equity Association (SAVCA).
The Board welcomes Nhlumayo and looks forward to his contribution to the Company.