SA investment company African Phoenix appoints new CEO

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CAPE TOWN, February 2 – South African investment company African Phoenix announced the appointment of Siyabonga Nhlumayo as its new Chief Executive Officer, with effect from March 1.

African Phoenix is an investment holding company with shares listed and tradable on the JSE, and income generated through dividends received from its 100% owned subsidiary, Stangen life insurance company.

According to a statement on Friday, Nhlumayo 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 then spent two and half years at PricewaterhouseCoopers Transaction Services where he advised on a wide range of transactions.

“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. 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),” said African Phoenix in statement.

“The Board welcomes Siya and looks forward to his contribution to the Company.”

– African News Agency (ANA)