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Sasol appoints new black CFO

Victor will continue as acting CFO – a position he’s held for a year – until Nqwababa assumes his position. “Going forward, Paul will continue to fulfil a crucial executive role within the Finance function, and will serve as Bongani’s right-hand within the department,” states Sasol CEO David Constable.Nqwababa has been the finance director of Anglo American Platinum since 2009. He is also a former finance director of Eskom and CFO of Shell Southern Africa as well as the chairman of the audit committee of the South African Revenue Service.Nqwababa has been an independent non-executive director and a member of Sasol’s audit committee since 2013. In a Sens announcement on Monday, Sasol said Nqwababa stepped down from its board and the audit committee with effect from September 26.“Bongani is certainly no stranger to Sasol. We are delighted that he has agreed to make the shift from being one of our non- executive board members to fulfilling a key role on the management team of the company,” Sasol said.The Sasol board has also appointed Nomgando Matyumza, an independent non-executive director of Sasol, as a member of the audit committee with effect from 26 September to fill the vacancy resulting from Nqwababa’s resignation.“We’re happy to welcome Gando onto Sasol’s audit committee. Her extensive experience, especially in publicly listed companies, will add great value to our audit committee and bolster diversity in the gender, skill and expertise balance of our board,” it said.

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