THE Minister of Public Enterprises Lynne Brown, acting in her capacity as shareholder representative, has confirmed Tsepo Monaheng 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 approximately 15 years’ experience at management level in the state owned company 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.
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.
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.
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