BUSINESS NEWS

African Phoenix appoints an Accountant to CE position

New responsibilities. Siyabonga Nhlumayo the new CE at African Phoenix.

He has been appointed new chief executive officer after departing his seat at black owned private equity firm Medu Capital.

Siya graduated from the University of Cape Town with a Post Graduate Diploma in Accounting in 2001, where after he commenced his articles at PricewaterhouseCoopers and qualified as a Chartered Accountant.

He spent two and half years at PricewaterhouseCoopers Transaction Services where he advised on a wide range of transactions.

The media release stated:” African Phoenix, has announced the appointment of Mr Siyabonga Nhlumayo (“Siya”) the Chief Executive Officer of the Group, with effect from 1 March 2018.”

He sits on various Medu Capital portfolio company boards and sub-committees and is a board member and treasurer of the South African Venture Capital & Private Equity Association (SAVCA).

Siya joins African Phoenix from Medu Capital, a black-owned Private Equity firm where he was a Partner and responsible for strategic development, investment execution and management.

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