Alan Knott-Craig

Alan Knott-Craig’s investment vehicle, World of Avatar, which recently bought MXit, has appointed former Mvelaphanda CEO Yolanda Cuba to its board as its chair.

Cuba sits on a number of boards already, including those of SA Breweries Ltd, Reunert and Absa. She is an executive director at SAB.

Knott-Craig says that as the World of Avatar board is essentially the board of MXit, the move means Cuba is technically also chair of the popular mobile social network company. He says she is an independent chairman and is not being remunerated by World of Avatar in any way but has undertaken the project because she finds the business “interesting and exciting”.

Cuba isn’t the only appointee to World of Avatar’s board, but Knott-Craig says he is not able to talk about these appointments and that an official statement will follow in due course.

He says Cuba has been appointed because she is a “good friend” and because he “trusts her”. She is “totally independent” and World of Avatar needs a “good level of corporate governance”, he adds. — Craig Wilson, TechCentral