Nkenke Kekana plans to create a new investment company specialising in the ICT sector, using his experience gained as group executive for regulatory affairs and public policy at Telkom, and prior to that as chairman of Parliament`s communications portfolio committee.
According to a report on the Balancing Act Africa Web site, Kekana is set to team up with a number of other black players to set up this company, which will also play an active role in the companies in which it invests.
Telkom media relations specialist Xolisa Vapi confirmed earlier this month that Kekana would leave the company at the end of June to "pursue other career opportunities".
Kekana will also advise Business Connexion - of which he was a founding partner, along with Benjamin and Isaac Mophatlane - and in a third move will also work with an existing investment house, Mowana Investments, which holds shares in Business Connexion.
According to Benjamin Mophatlane, Mowana also holds shares in news-analysis service Monitoring SA and is not purely focused on technology.
Kekana says the main aim of the new company will be to capitalise on opportunities created by the convergence of technologies, and that one of its early ventures may be into the Democratic Republic of Congo, where there is a desperate need for basic telecoms services.
The group will also take equity in South African companies that need black investors to meet the targets being set by the empowerment charter, as "there are many opportunities with regard to equity because of the charter and the group will be looking at all of those".
He also stated that negotiations had been taking place with some financial institutions and the funds were in place to support these initiatives.
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