IN THE PILOT'S SEAT: New chairperson of the SAA board, JB Magwaza.Picture: enos mhlongo
DURBAN - This past week the Minister of Finance Malusi Gigaba announced the appointment of a new South African Airways (SAA) Chairman, Johannes Bhekumuzi Magwaza. 

Along with the Magwaza appointment were more appointments of non-executive members as well as a new Deputy Chairperson and the non-executive director. 

However, not much has been reported on the man tasked with taking over SAA, following the axing of controversial former chairperson, Dudu Myeni. Magwaza has often been described as a veteran corporate executive, who's served on numerous national and international company boards since the 1990s. His deputy, Nolitha Fakude, is a former Sasol’s executive director and Anglo-American non-executive director.

Here's what we know about the new SAA Chairperson

Magwaza is the founder of Nkunzi Investment Holdings Limited - a private equity firm specializing in mature, leveraged management buy-outs, and leveraged management buy-ins

He still serves as the Executive Chairman of Nkunzi Investment Holdings Limited.

He holds degrees from the University of Zululand, Warwick University in the United Kingdom and the University of South Africa. 

He started out as the Personnel Director of Hulett Refineries and thereafter worked various positions within Tongaat Hulett, the last of which was the Independent Non-Executive Chairman. 

Since then he has worked various executive positions for companies like Pamodzi Investment Holdings, Imbewu Capital Partners and RCL Foods Ltd. 

Magwaza's appointment will take effect on the 3rd of November 2017 when the Finance Minister will have a special meeting with the newly appointed board. 


-BUSINESS REPORT ONLINE