Lynne Brown, South African Minister of Public Enterprises acting in her capacity as Shareholder Representative, is pleased to announce the appointments of new Executive Directors at Denel, SAFCOL and Alexkor.
The appointments were effected in accordance with the State-Owned Companies (SOCs) Memoranda of Incorporation, and followed the Department’s executive appointment guidelines requiring the Minister to present recommendations to Cabinet for concurrence.
Cabinet approved the appointments at its meeting on 18 October 2017.
The executives are appointed as ex officio members of the companies’ respective Boards of Directors, on five year contracts subject to annual performance reviews.
Stable leadership is critical to the implementation of short to medium-term plans to improve SOC sustainability and their impact on the economy.
The Minister has congratulated the new appointees and wished them well in their task to maximise the contribution SOCs make to South Africa’s development.
At Denel, Zwelakhe Ntshepe is confirmed as the new Group Chief Executive Officer (GCEO) and Odwa Mhlwana is confirmed as the new Group Chief Financial Officer.
Denel plays a significant role in industrial growth through its development of key defence technologies, manufacturing and maintenance activities, well-defined infrastructure and strong human capital.
Ntshepe holds an MBA Degree. He joined Denel in 21 years ago and prior to acting as GCEO served as the Denel Group Executive responsible for Business Development and Corporate Affairs.
While Ntshepe acted as GCEO, Denel’s order book grew to over ZAR35 billion. Company revenue has grown from a low base of around ZAR3.5 billion in 2012 to over ZAR8 billion in the previous financial year, with the export component climbing to over 60%.
Mhlwana is a qualified Chartered Accountant (SA).
Prior to this appointment, Mhlwana served as Group Financial Director of the Denel subsidiary, Land Systems South Africa (LSSA), now known as Denel Vehicle Systems (DVS).
Tsepo Monaheng is confirmed as the new CEO of the state-owned forestry company, SAFCOL.
SAFCOL plays a catalytic role in the realisation of the State’s afforestation, rural development and economic transformation goals.
Monaheng has about 15 years experience at management level in the SOC environment, and more than 22 years commercial expertise in the public sector. He is an electronic engineer by training, with a BSc Degree (Physics, Mathematics), BSc in Electronic Engineering and an MBA.
He has previously served as a telecommunication engineer at Transtel, a former division of Transnet, at the Airports Company of South Africa as a senior engineer, and at Denel Dynamics as a Programme Manager. He moves to SAFCOL from his position as CEO of Denel Dynamics.
Lemogang Pitsoe is confirmed as the new CEO and Adila Chowan as the new CFO of Alexkor.
Alexkor’s core business is mining, specifically exploiting a large land-based diamond resource and extensive diamondiferous marine deposits. Alexkor, as a commercialised state asset, has significant strategic importance for the Namaqualand region. The appointment of new executives is vital to driving sustainable performance at Alexkor.
Pitsoe holds a Masters in Business Leadership (MBL) and a B-Tech Degree in Mining Engineering.
Over his career he has had extensive exposure to a variety of mining projects. From 2011 to February 2017 he was the General Manager of Mining at Hernic Ferrochrome.
Adila Chowan is a qualified Chartered Accountant (SA). She has gained diverse professional experience as a senior/executive financial manager across both the private and public sectors. Since February 2016 Chowan has been the Deputy Director-General: SCM at the Department of Public Works.