File picture: Matthews Baloyi/Independent Media

Johannesburg - The City of Johannesburg announced the imminent departure of Reginald Boqo as its group chief financial officer on Wednesday, saying that he was leaving to explore new ventures outside the Metro before his contract comes to an end in December. 

Rumours of Boqo's imminent resignation started doing the rounds last month after the City suspended its ombudsman and its executive director of group corporate and shared services.

"Boqo has diligently served the City of Johannesburg since 2013 and leaves behind a competent team," the City said in a statement.

"The recruitment process is currently underway and a new group chief financial officer will be announced in due course. Mr Ishwar Ramdas is currently acting as the group chief financial officer."

A chartered accountant and a graduate of the Wits University Business School's programme for municipal finance executives, Boqo joined the municipality in December 2013, after stints at Gobodo Incorporated Chartered Accountants, the Infrastructure Finance Corporation and the Central Energy Fund. 

He was nominated for the 2017 CFO Awards, but did not win. 

The City thanked Boqo for his contribution and wished him well in all his future endeavours.