Interim SNO chairman resigns

Johannesburg, 19 Feb 2004

Dr Enos Banda, CEO of Eskom Enterprises - which owns Esi-Tel, a 15% shareholder in the country`s second national operator (SNO) - has resigned.

He is handing over the reins to Dominic Sewela, who will take over as acting CEO and may also replace Banda on the interim board of the SNO.

"I have been offered a wonderful opportunity within the financial sector, and have chosen to take that up, which is why I have tendered my resignation," says Banda.

"However, as part of my agreement, I am not currently at liberty to say which company I will be joining."

Banda, who had been elected interim chairman of the SNO board and was also the entity`s official spokesman, says the combined shareholders of the SNO will elect a new chairman at its next board meeting.

The SNO shareholders comprise the state-owned enterprises Esi-Tel and Transtel (each holding 15%); 13% shareholders CommuniTel and Two Consortium; and black empowerment company Nexus Connexion (19%), with a further 25% shareholding presently warehoused.

While the SNO shareholders are not prepared to comment until such time as a new spokesman has been elected, it is understood that a board meeting will take place tonight.

At the board meeting, shareholders will elect a new interim chairman and official spokesman.

"Sewela will be the Esi-Tel representative at the meeting, but it will be up to the board to decide who will take over as chairman. He may or may not be elected to the position," says Banda.

ITWeb was unable to reach Sewela for comment.