ECDC welcomes new Board of Directors

ECDC welcomes new Board of Directors

The Eastern Cape Development Corporation (ECDC) welcomes the new members of its Board of Directors, appointed from 22 February 2021 to serve a three year term.

The new Board is led by Mr Vuyani Jarana as the Chairperson assisted by Mr Simpiwe Somdyala who is returning as Deputy Chairperson.

Other returning members from the previous Board are Ms Nolitha Pietersen and Ms Thobile Buthelezi who represents the Shareholder on the Board from its Provincial Treasury wing.

The constitution of the new Board also sees the return of Ms Boniswa Koneti who served a short period on the Interim Board which was appointed to oversee the corporation until such time that the new Board was put in place.

Joining the Board Chairperson, as new members of the Board are; Ms Siyabuka Siko, Ms Pumeza Bono and Ms Tracy Cumming.

Vuyani Jarana, now the Chairperson of the Board of Directors of the ECDC, brings a wealth of expertise in global business development as a high performing C-Level Executive within global organisations.

He has vast knowledge and experience in leadership roles at Vodacom and at the South Africa Airways, along with a number of chairperson and director roles he has held and continues to hold in the private and public sector.

As a business transformation expert, Jarana is coming into the ECDC when globalisation is transforming and the ECDC looks to strategically position itself globally, and within the African continent in light of the African Continent Free Trade Area operationalization.

With a Bachelor of Commerce and a Master of Business Administration, he is currently serving on various Boards, among others; as a Chairperson of Vodacom Business Nigeria, Chairperson of Nelson Mandela Museum, Chairperson of Finance and Investment Committee of Eastern Cape Rural Development Agency.

Simpiwe Somdyala served on the outgoing interim Board as Chairperson with an unwavering interest in advancing the strategic goals of the ECDC. He worked for the Transkei Development Corporation which was later amalgamated into the ECDC and became a Regional Manager in Mthatha, to later return to the ECDC to serve as a Board Member since December 2018, as a Deputy Chairperson.

Somdyala holds a variety of qualifications including Honours in Bachelor of Commerce, Master of Business Administration and completed the Executive Development Programme with Wits University.

Nolitha Pietersen, one of the returning Board Members, who served as the ECDC Chairperson of Audit Risk & Compliance Committee since January 2020 until October 2020.

A qualified Chartered Accountant with a Master of Business Administration. Pietersen has great experience in auditing and financial management and also serves as a Board member and audit committee member at various organisations; the Department of Health, South African Post Office, Mayibuye Transport Corporation and State Information and Technology Agency.

Thobile Buthelezi has 18 years of experience in the banking and retail sector, with 11 years in senior management in the public sector. Buthelezi is a shareholder representative on the new Board and upholds a high consideration of corporate governance, is well versed in funding and investment and has a great understanding of the mission of the ECDC and that of the provincial government.

Siyabuka Siko is a Chartered Accountant currently working as a Financial Manager at Komatsu Mining Corporation. Her previous corporate experience includes treasury management and hedge funding in Barloword Equipment.

She joins the ECDC Board of Directors with listed company audit experience ranging from financial services, pharmaceutical, automotive, retail, mining and construction. She also serves in the Komatsu Mining Corporation Provident Fund Board.

Siko brings value-centred corporate governance into the ECDC Board.

Boniswa Koneti currently the Senior Manager for Local and Regional Economic Development Fund at DEDEAT, with over 18 years of work experience with Non-Profit Organisations and Small, Micro and Medium Enterprise development and fund management.

Koneti holds a Master of Business Administration and a Bachelor of Commerce and is equipped with an intricate knowledge of the ECDC, having previously been a Senior Accounts Manager in the corporation.

Phumeza Bono is an admitted attorney and conveyancer with a Master’s Degree in Labour Law, currently a Director of the law firm, Phumeza Boni Inc. She is the Chairperson of the Nelson Mandela Bay Municipality Board for Financial Misconduct and demonstrates a strong ethics background. Bono brings to the Board a vast knowledge and experience in Labour Law.

Tracy Cumming is a Chartered Accountant with great exposure in the auditing landscape of the provincial government. She has made significant contributions to audit committees of different government and municipal structures in the province.

Furthermore, Cumming served as the Chief Financial Officer for the Eastern Cape Department of Education and now is an independent consultant. She served in the audit committees of many entities including the Eastern Cape Liquor Board, the Eastern Cape Gambling Board, Mayibuye Transport Corporation, and many others.

Welcoming the new Board of Directors, Chief Executive Officer Ndzondelelo Dlulane says, “The new Board of Directors brings an impressive and diverse range of expertise with a shared ethical value with stakeholders, shareholder and the ECDC employees”.

The appointment of the eight members is in line with the provisions of Section 7(2) of the ECDC Act 2 of 1997, and will be able to fulfil the ECDC’s Board of Directors’ statutory mandate after an introductory meeting by the Shareholder, Economic Development, Environmental Affairs and Tourism’s Hon. MEC Mr Mlungisi Mvoko.

To support the new Board of Directors, Dlulane says “the ECDC has talented teams in place, ready to seize the enormous opportunities for the Eastern Cape in the local to international markets.

“As the province recovers from the COVID-19 pandemic negative economic impact, the ECDC continues to look for investment opportunities and leading innovations that will bring aggressive economic growth for Eastern Cape”.

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