Former Eskom chair Jabu Mabuza appointed Net1’s chairman designate

Former Eskom chair Jabu Mabuza has been appointed chairman designate for Net1, the company whose subsidiary, Cash Paymaster Services, previously managed the payment of social grants in South Africa.

In a statement announcing the appointment of three independent directors to its board, Net1  said Mabuza, along with Ali Mazanderani, will join the board on 15 May, while the third independent non-executive director, Anthony Ball, will join it on 21 May.

The company said Mabuza would succeed Christopher S Brooke, who would retire in June.

“Mr Mabuza has previously chaired Eskom – Africa’s largest utility, Telkom – one of South Africa’s leading telecommunications companies, and the African operations of Anheuser Busch InBev. Mr Mabuza has also served as the convenor of the CEO Initiative with South Africa’s Minister of Finance. Mr Mabuza was a recipient of a Lifetime Achievement Award from Ernst & Young in their World Entrepreneur Awards,” the company’s statement reads.

Brooke welcomed Mabuza, Mazanderani and Ball, adding that the company looks forward to benefitting from Mabuza’s guidance.

“Jabu has a wealth of experience as a prominent business leader across the private and public sectors in Africa, including a strong track record with corporate turnarounds and we look forward to benefiting from his guidance,” Brooke said.

Mabuza resigned from Eskom in January.

In a statement following his resignation, the presidency said Mabuza had apologised for Eskom’s inability to meet the commitment it made to the president, the deputy president and the relevant ministers at a meeting on 11 December to avoid load shedding until mid-January.

Mabuza has also acted as Eskom CEO before André de Ruyter took up the position late last year.

(Compiled by Makhosandile Zulu)

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