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Tsholofelo Molefe
Telkom Group Leader CFO Tsholofelo Molefe has resigned with immediate effect to take over as CFO at rival MTN Group, where she will take over the former role of CEO Ralph Mupita.
Molefe will take office as soon as possible in 2021, but no later than October 1, MTN said in a statement. Presumably, the long delay is a result of the business restrictions Telkom has in place and that it will now be on a “garden permit” until it is released.
Prior to Telkom, Molefe was CFO at Eskom and CFO of First National Bank’s Personal Banking division.
She will join the MTN Group board and replace Sugentharan Perumal, who has been serving as CFO since September 1. Perumal assumed that role after the appointment of the former Mupita as the new president and CEO of MTN, replacing Rob Shuter.
MTN has made several other appointments, including the appointment of Yolanda Cuba, the group’s digital and fintech director, as vice president of its South and East Africa cluster. Serigne Dioum, an executive of the mobile financial services group, will join the executive committee as the group’s digital and fintech director.
Kholekile Ndamase, group executive for mergers and acquisitions, will take on the new exco role of general manager of mergers and acquisitions and business development for the group.
Telkom interim CFO
Openserve CFO Dirk Reyneke will take over as interim group CFO at Telkom. Reyneke was CFO of Telkom Mobile and Gyro, Telkom’s property and tower business. He also led the BCX and Telkom Enterprise integration process.
“Reyneke, who has been working with Molefe for the past two years, will continue our
strategic objectives, which include building financial resilience through sustainable cost management, preservation of cash, disciplined allocation of capital and mitigation of financial risks, ”said Telkom.
The group said it will appoint a permanent CFO “at the end of a comprehensive process.” He wished Molefe the best in his future endeavors. – (c) 2020 NewsCentral Media
