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CITY OF JOHANNESBURG METROPOLITAN MUNICIPALITY
INSTRUMENT CODE: COJ02, COJ04, COJ05, COJ06, COJ07
ISIN: ZAG000022153, ZAG000030941, ZAG000054339, ZAG000054354,
ZAG000085044
DATED: 13 January 2014
ANNOUNCEMENT OF NEWLY APPOINTED GROUP CHIEF FINANCIAL OFFICER
In compliance with the Johannesburg Stock Exchange requirement
that all organisations with listed securities issue a
statement in the event of changes in senior management, please
be advised that Mr Njokweni Reginald Boqo has been appointed
as the Group Chief Financial Officer with effect from 5
December 2013.
Mr Boqo has the following qualifications:
-B Comm Degree at the North West University;
-B Compt Honours Degree at UNISA;
-Diploma in Financial Markets at AFM;
-Postgraduate Diploma in Specialised Auditing RAU/ UCT;
-Chartered Accountant (SAICA) – 2002;
-Mastering Finance Certificate at GIBS – 2007;
-Chartered Management Accountant (CIMA, UK) – 2010; and
-FAIS First Level: Key Individuals – 2012.
Background of Appointee
Mr Boqo started his career by enrolling for Articles with a
registered Chartered Accountants Firm before joining the
Financial Services Industry. During his time in the Audit
Industry, he performed External Audits in various Industries
including Local Government and Treasury Audits of State Owned
Entities and Private Sector Entities.
Mr Boqo also provided Advisory Services whilst employed by the
Audit Firm and qualified as a Chartered Accountant “CA (SA)”
in 2002 and continued to also qualify as a Chartered
Management Accountant “CIMA (UK)” in 2010.
Mr Boqo has performed various roles over the years including
his appointment as a Group Financial Director of the
Infrastructure Finance Corporation Limited (“INCA”) in 2005.
INCA is a Financial Services Group providing funding to the
Public Sector and primarily in the Local Government Sector
(since 1996). During his tenure as the Group Financial
Director, Mr Boqo has overseen an extended period of achieving
unqualified audit reports.
In 2011, Mr Boqo and his Executive Colleagues established INCA
Portfolio Managers (Pty) Ltd, to provide Portfolio Management
and Advisory Services to the Local Government Sector. Mr Boqo
is currently an Executive Director and Shareholder of INCA
Portfolio Managers. During this time he has been part of and
led Projects including performing Viability and Financial
Assessments for various Municipalities. Through this venture,
he has developed a sound understanding of relevant legislation
in the Local Government Sector including the Municipal Finance
Management Act, Municipal Structures Act and Municipal Systems
Act.
Mr Boqo comes across as a seasoned finance professional that
has shown great leadership and dedication in all the positions
he has occupied. He serves on the Board and Board Committees
of some State Owned Entities where his understanding of the
Public Finance Management Act has been greatly enhanced and
utilised.
Amongst Mr Boqo’s other Directorships, he serves as a Board
Member and Chairman of the Board Audit and Risk Committee of
the Central Energy Fund (“CEF (Soc.) Ltd”).
Summary of Roles Occupied
-Completed Articles at Gobodo Incorporated Chartered
Accountants in 1998;
-Joined the Infrastructure Finance Corporation Limited (INCA)
in 2000 as Assistant Financial Manager;
-Appointed as the Financial Manager of INCA in 2002;
-Appointed as the Financial Director in 2004 (resigned to
start IPM for growth);
-Appointed as the Executive Director of INCA Portfolio
Managers (Pty) Ltd (“IPM”); and
-Since May 2011 the current position of Executive Director and
Shareholder of INCA Portfolio Managers (Pty) Ltd.
Debt Sponsor – The Standard Bank of South Africa Limited,
acting through its Corporate and Investment Banking division
Contact: Zoya Sisulu: +27 11 721 6032
Date: 13/01/2014 04:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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