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Prasa appoints first permanent chief financial officer since 2014

Sep 02 2019 16:09
Lameez Omarjee, Fin24

The Passenger Rail Agency of South Africa has appointed Japhtalina Lesibana Fosu as the new permanent Chief Financial Officer.

Fosu's appointment is effective of Monday, September 2, 2019. This is the first permanent CFO appointment for the public enterprise since 2014.

"Prasa has been without a CFO since 2014. This has resulted in an unstable finance department that has not delivered clean audits since 2014," a statement from the group read.

The entity has been in a process to recruit group executives to stabilise the entity, which has been dogged by irregularities.

"Fosu has over 19 years of extensive experience in the public sector, private sector, non-governmental institution and international financial institutions," the statement read.

Fosu is a qualified Chartered Accountant with a Masters in Business Administration from IMD Business School, Switzerland.

Her achievements include a Clean Audit Award from the Auditor General South Africa, on behalf of the Limpopo Road Accident Fund, for clean unqualified opinions for two consecutive financial years in 2012/2013 and 2013/2014.

"Fosu brings various critical skills to the business including strategy development and implementation, business transformation and change management, governance and project development," Prasa said.

The board has suspended several executives through its process to clean up the entity.

prasa  |  state owned enterprises  |  rail  |  executives
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