DEVELOPMENT BANK OF SOUTHERN AFRICA - Appointment of Chief Financial Officer and change in Operating Model

Appointment of Chief Financial Officer and change in Operating Model

Development Bank of Southern Africa Limited
Registration number: 1600157FN

Appointment of Chief Financial Officer and change in Operating Model


The Development Bank of Southern Africa (“DBSA”) is pleased to announce the
appointment of Boitumelo Mosako as Chief Financial Officer (“CFO”), effective 01
April 2018. Boitumelo is a CA(SA) with over 12 years’ experience in financial
services. Prior to joining DBSA as CFO, she served as the CFO at the South
African Bureau of Standards and before that, as General Manager: Finance at
DBSA. She had prior to those worked at Triumph Venture Capital, Citigroup, and
Ernest & Young, respectively.

In 2016, DBSA formulated and tabled a growth strategy designed to respond to
changing client needs, increasing demands to grow developmental impact,
persistently difficult economic conditions and an increasing competitive
environment. The need to revise the operating model of the Bank was identified
as one of the critical enablers to execute the new strategy.

The new operating model incorporates three front-line divisions – Coverage,
Transacting and Project Preparation.

In addition to the CFO, the executive management structure based on the
new operating model is as below:

* Paul Currie: Chief Investment Officer, previously Chief Risk Officer;
* Mohan Vivekanandan: Group Executive: Client Coverage, previously Group Executive
  for Strategy;
* Mohale Rakgate: Group Executive: Project Preparation, previously General
  Manager: Project Preparation Unit;
* Mpho Kubelo: Chief Risk Officer, previously General Manager: Risk Management;
* Zodwa Mbele: Group Executive: Transacting, previously General Manager: Finance;
* Ernest Dietrich: Group Executive: Treasury and Balance Sheet Management,
  previously Group Executive for South Africa Finance;

With the following positions remaining the same:

* Patrick Dlamini: Chief Executive (term extended for a further five years);
* Mohammed Bhabha: Group Executive: Infrastructure Delivery (acting);
* Michael Hillary: Group Executive: Financing Operations.

The former CFO, Kameshni Naidoo and Rieaz Shaik, then Group Executive:
International Financing resigned during the review of the Bank’s operating model


Date: 16 April 2018

Debt Sponsor : Nedbank CIB, a division of Nedbank Limited.

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