SABMiller: Manuel is non-executive director

SABMILLER has appointed former finance minister Trevor Manuel as its independent non-executive director with effect from March 1. John Manser, the chairman, said yesterday Manuel brought a wealth of experience to the board. “His track record as one of the world’s longest-serving finance ministers is exemplary and his experience of advising multilateral organisations on emerging-market development and sustainability will be a great asset to the board,” he said. Manuel has more than 20 years experience in government in different capacities. He was first appointed to cabinet as minister of trade and industry in May 1994, a portfolio he held for two years. In April 1996, he became finance minister, steering the South African economy for 13 years. Manuel left government last year with his last cabinet roles being the minister in the presidency. Manuel is senior advisor and deputy chairman of Rothschild South Africa where he has served on the board since October. He is joint chairman of the Green Climate Fund, non-executive director of the Global Green Growth Institute, climate change finance advisor to the UN and chairman of the International Monetary Fund’s development committee. Shares rose 1.36 percent to close at R593.44 yesterday. – Siphamandla Goge