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Mcebisi Jonas to join MTN board

Jonas is seen as close to new president Cyril Ramaphosa.

Former deputy finance minister Mcebisi Jonas, who was controversially fired from the position by former President Jacob Zuma, will join MTN Group as a non-executive director on June 1, the Johannesburg-headquartered mobile telecommunications provider said on Monday before markets opened.

Jonas, 58, who has claimed he was offered the job of finance minister by Gupta brother, Ajay Gupta in exchange for a R600 million bribe, is seen as close to new president Cyril Ramaphosa. He spurned the Gupta offer. He was deputy finance minister between 2014 and 2017.

A former chairman and non-executive director of the Public Investment Corp (PIC), Jonas has also served as provincial minister of finance in the Eastern Cape, where also served as economic development, environmental affairs & tourism minister. He is currently one of four independent “presidential investment envoys”, appointed by Ramaphosa to attract investment to South Africa.

At the same time, MTN Group has appointed Swazi Tshabalala as a non-executive director, also from June 1.

Tshabalala, who has an MBA and who was part of the Oxford Fintech Programme, has 20 years of experience in finance, risk management, treasury and general management. Her experience includes work in state-owned enterprises and the private sector, and a diversity of sectors, including transportation and logistics, infrastructure and financial services.

She is currently a non-executive director of Tiger Brands and South African Airways. Until recently, she was a non-executive director of Standard Bank and the CSIR.

This article was originally published on TechCentral here.

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Great! Now pay MTN to run SAA as a subsidiary. MTN is successful at selling airtime. Maybe they can also sell SAA’s “airtime” at a profit to travelers. SOE’s are nothing but an indirect social grant scheme for looting ANC cronies. Privatize all of them!

The President’s sympathizers,friends and close allies getting somewhere in life we see.

I am rather surprised that, with Jonas’s reputation for integrity, he joins the board of the most unethical and compliance-unfriendly company in Africa. Perhaps he can sort out all the irregular and illegal MTN business practices, although it is more likely that he will simply overlook them, like everyone else.

Strange how this top management always justify their massive remuneration to their scarce skills, yet hire politicians.

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