Public Enterprises Minister, Lynne Brown on Thursday, confirmed senior appointment at three state-owned companies (SOCs).

A day after Finance Minister, Malusi Gigaba in his medium-term budget policy statement speech to Parliament warned that state-owned enterprises posed the biggest risk to South Africa’s economy, Brown announced appointments of executive directors at Denel, Safcol and Alexkor.

In a statement, Brown’s office said the appointments were approved by Cabinet on October 18.

“The executives are appointed as ex officio members of the companies’ respective Boards of Directors, on five year contracts subject to annual performance reviews,” the statement said.

“Stable leadership is critical to the implementation of short to medium-term plans to improve SOC sustainability and their impact on the economy.”

Zwelakhe Ntshepe, who has been acting as group chief executive, was permanently appointed to the position while Odwa Mhlwana was confirmed as the new group chief financial officer. 

Denel is South Africa’s state-owned arms manufacturer.

“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 a Masters in Business Administration degree while Mhlwana is a chartered accountant.

The South African Forestry Company (Safcol) has a new chief executive in Tsepo Monaheng .

Monaheng has a Bachelor of Science (BSc) degree in Physics and Mathematics, a BSc in electronic engineering and a Master in Business Administration.

“Safcol plays a catalytic role in the realisation of the State’s afforestation, rural development and economic transformation goals.”
Lemogang Pitsoe was confirmed as the new chief executive of Alexkor. Adila Chowan is the state-owned diamond miner’s new chief financial officer.

Pitsoe hold a Master’s in Business Leadership (MBL) and a B-Tech Degree in Mining Engineering. 

Chowan is a qualified chartered accountant.

“Alexkor’s core business is mining, specifically exploiting a large land-based diamond resource and extensive diamondiferous marine deposits,” said Brown.

“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.”

– African News Agency