Nedbank CFO leaves to join Vodacom

Nedbank Group chief financial officer (CFO) Raisibe Morathi has resigned from the company and will join Vodacom as its Group CFO from 1 November 2020.

Morathi’s resignation will take effect from 30 September, and she will also be appointed to the Vodacom Group Board.

“As one of the most experienced and one of very few African black female CFOs of a listed company in South Africa, Raisibe’s appointment underscores Vodacom’s commitment to driving diversity across the workplace,” Vodacom said.

Morathi served as CFO of Nedbank Group since 2009, where she led a team of over 900 people involved in finance and operations. She was also the patron of Nedbank’s Women’s Forum.

Morathi is a chartered accountant and has also completed an Advanced Management Programme (AMP) with INSEAD in France.

Her other qualifications include a Higher Diploma in Taxation (Wits University) and she is a few months away from completing her Masters in Philosophy (Corporate Strategy) at GIBS, Vodacom said.

“I am delighted to welcome Raisibe to the Vodacom Group, where she will drive and continue to modernise our finance operations as we position ourselves as a leading pan-African technology company,” Vodacom CEO Shameel Joosub said.

“Raisibe has a proven track record in dealing competently with complex leadership challenges and driving strategic transformational change.”

“Given Vodacom Group’s leadership position as a mobile money provider in Africa and our accelerated growth ambitions beyond traditional telco services, Raisibe’s extensive financial services experience makes her an excellent addition to the Vodacom Group Board and Executive Committee (Exco),” Joosub said.

Sitho Mdlalose moves to Vodacom South Africa

Morathi succeeds ex-Vodacom CFO Till Streichert following his departure in June 2020 and the interim appointment of Sitho Mdlalose as Group CFO.

“I’m excited to be joining the Vodacom Group Board and Exco at a time when it has simplified its structure to drive increased focus across all of its international territories,” Morathi said.

“I look forward to leading a high-performing Finance team, driving the function’s strategic digital transformation and contributing to the future success of the Group.”

Joosub thanked interim CFO for his contribution to the company during the difficult circumstances of the pandemic, stating that he would now serve as CFO of Vodacom South Africa (VSA).

“In his new role as CFO of Vodacom South Africa (VSA), Sitho will have dual reporting lines into Raisibe and Balesh Sharma, designate CEO of VSA,” Shameel said.

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Nedbank CFO leaves to join Vodacom