South Africa’s Telkom on Wednesday announced the appointment of Tsholofelo Molefe as the group chief financial officer.
Her appointment is effective 1 July 2018.
Molefe takes over from Deon Fredericks who moves to the role of chief investment officer for Telkom SA.
Sipho Maseko, Telkom Group CEO, said the move enables greater focus on Telkom’s investment strategy.
“Our most recent set of annual financial results shows that our new revenue streams are beginning to offset Telkom’s traditional revenue streams. This confirms that we made the right investment decisions at the right time.”
The role of chief investment officer enables greater focus on Telkom’s investments to ensure the group’s participation in future revenue pools as it enters the growth phase of its strategy.
“Deon’s experience, intimate knowledge of the business and our resource allocation philosophy, makes him an ideal candidate to drive our investment strategy following his positive contribution to the turnaround phase of the business,“ Maseko said..
Molefe is a qualified chartered accountant.
She joined Telkom on 1 July 2016 as a deputy chief financial officer.
She was appointed to group exco as chief risk and compliance officer on 1 April 2017 to strengthen internal controls across the group as the operating model evolved. Controls have now been aligned with the new operating model and the group has progressed to a level of confidence to reincorporate this function into the chief financial officer role.