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Telkom appoints new CFO as Mteto Nyati leaves board

Admire Moyo
By Admire Moyo, ITWeb's news editor.
Johannesburg, 30 Sept 2023
Mteto Nyati.
Mteto Nyati.

Telkom has appointed Nonkululeko Dlamini as group chief financial officer (CFO) and executive director, with effect from 1 December.

In a statement to shareholders yesterday, the firm says the appointment was made in compliance with Telkom’s nomination policy.

Dlamini is a qualified chartered accountant (South Africa) and currently group CFO at Transnet.

She was previously CFO at the Industrial Development Corporation of South Africa and acting CFO at Eskom, and has held various other management positions within Eskom.

Telkom notes Dlamini has experience serving as a non-executive director on the boards of Kumba Iron Ore and Small Enterprise Finance Agency.

It adds the appointment will result in Dirk Reyneke, incumbent group CFO, stepping down from the board, with effect from 30 November, and assuming the role of chief capital projects officer, a role that will also oversee the next phase of group-wide ROIC model implementation.

In addition, Reyneke will work closely with Dlamini to ensure her seamless transition to the group CFO role.

Furthermore, the board notified shareholders of the resignation of Mteto Nyati as a non-executive director with effect from 29 September.

According to Telkom, Nyati’s resignation follows recent developments, which have resulted in capacity constraints on his side.

“The board looks forward to welcoming Dlamini as group CFO and to the board, and looks forward to her contribution to the company. The board thanks Messrs Reyneke and Nyati for their invaluable contributions to the company during their tenure and wishes them well for the future,” says Telkom.