Former Eskom chair Jabu Mabuza to head Net1 board

Businessman and former chairperson of Eskom, Jabu Mabuza, has been appointed chairman designate of payment solutions provider Net1.

Mabuza is one of three independent non-executive directors who have been appointed to Net1's board, the group said in shareholder notice issued on Thursday evening.  The others are Ali Mazanderani, who has a history in fintech firms, and Antony Ball, who co-founded private investment firm Value Capital Partners, and founded private equity firm Brait.

Mabuza and Mazanderani will join the board from Friday 15 May, with Ball joining on 21 May. Mabuza will replace Christopher Seabrooke, who will retire next month.

Mabuza previously served as acting Eskom CEO, before André de Ruyter was appointed late last year. He resigned from the Eskom board, this after the power utility hit an all time low and implemented unprecedented stage 6 load shedding in December last year.

But prior to his stint at Eskom, he also chaired Telkom, and was the CEO of Tsogo Sun. Mabuza is currently the chairperson of Sun International.

Compiled by Lameez Omarjee