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Nkosana Moyo resigns from Impala Platinum board

by Ndou Paul
07 Jul 2017 at 19:42hrs | Views
Former Industry and International Trade minister Nkosana Moyo has resigned from South Africa's Impala Platinum, the world's second largest platinum producer and Zimplats' parent company, as an independent non-executive director, the mining firm announced on Friday.

"In accordance with paragraph 3.59(b) of the JSE Limited Listings Requirements, Implats announces the resignation of Dr Nkosana Moyo as an independent non-executive director of the board of directors of Implats," said Implats in a notice to shareholders.

Dr Moyo has stepped down from the Board with immediate effect in order to pursue his political interests.

He was appointed to the Board in March 2015 and has served on the capital allocation and investment committee as well as the health, safety, environment and risk committee. The Board expresses its appreciation to Dr Moyo for his contribution during his tenure.

Moyo was appointed minister by President Robert Mugabe in 2000 as one of his rare, non-party Cabinet appointees, but quit the following year citing growing lawlessness and attacks on farms and businesses by ZANU-PF party activists.

He is the founder and executive chairman of the Mandela Institute for Development Studies.

He has served on the boards of a number of companies in the cement, sugar, finance, tourism, mining, airline and food sectors.

Previously he served as the vice president and chief operating officer of the African Development Bank in Tunisia, while he has also held the positions of Managing Partner for Actis (a global private equity firm) in Africa, as well as a senior advisor and associate for the International Finance Corporation.

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Source - Byo24News