Remgro-controlled telecommunications group Community Investment Ventures Holdings (CIVH), the parent of Dark Fibre Africa and Vumatel, has appointed Raymond Ndlovu as CEO.
The appointment comes two days after news emerged that CIVH is hiring outgoing Vodacom Group chief technology officer Andries Delport as its new CTO. It has also appointed Kobus Viljoen as chief financial officer and Neo Moshimane as chief corporate officer.
“CIVH has appointed Ndlovu to drive and lead the company’s ambitious growth plans,” it said in a statement on Thursday. “He will be accountable to the company’s board of directors, which is chaired by Remgro strategic investments executive and former Vodacom CEO Pieter Uys.”
Ndlovu has been investment executive and management board member at Remgro since 2013. “He has garnered extensive corporate and entrepreneurial experience in various fields in the financial services industry, including investment banking, asset management and stockbroking, since 1998.”
He has held senior management positions with several organisations, including Metropolitan Life and Standard Chartered Merchant Bank. He co-founded and was CEO of an institutional stockbroking firm, Noah, for 10 years until July 2011, CIVH said in the statement.
“His primary objective is to create a diversified wholesale, open-access ICT infrastructure business to enhance the existing asset base,” it said.
‘A significant business’
“We initially started by investing in DFA and last year we acquired Vumatel. When combined, these companies have become a significant business. Thus, it’s prudent to create capacity at the centre of the holding company — CIVH — to facilitate all the required strategic and operational targets.
“In order for that to happen CIVH needed someone to lead an executive team. The company needed people with a combination of business experience and leadership capabilities to head the business.” — © 2019 NewsCentral Media