Troubled Tech Firm EOH Appoints Fatima Newman ad Chief Risk Officer

Suspicious transactions of R1.2 billion have been identified and are being investigated by ENSafrica, said EOH.

JSE-listed technology group EOH announced on Friday it has appointed Fatima Newman as Chief Risk Officer.

Newman joined the EOH management team and executive committee on 1 April 2019 and played a meaningful role in the forensic investigation lead by ENSAfrica and the interim report shared with the market on 16 July 2019.

ENSafrica report has revealed evidence of a number of governance failings and wrongdoing at EOH.

The report by the law firm unearthed wrongdoings including unsubstantiated payments, tender irregularities and other unethical business practices.

The wrongdoings are primarily limited to the public sector business centralised in EOH Mthombo and to a limited number of EOH employees.

Suspicious transactions of R1.2 billion have been identified and are being investigated by ENSafrica, said EOH.

Prior to joining EOH, she was employed as the Executive for Business Risk Management and Compliance at MTN Group responsible for the strategic lead in the development and implementation of the business risk management and compliance, ethics and forensic investigation agendas, a role she held for two years.

Before that, she held roles at Absa CIB as Head of Compliance and at Macquarie First South as Head of Legal Compliance.

Newman brings 25 years of experience as a strategic leader of risk, compliance, regulatory and governance oversight in banking and financial services, stockbroking, asset management and corporate finance.

“I am very pleased that Fatima is joining the board as her skillset and uncompromising commitment to good governance will complement to the recent appointments of Andrew Mthembu, Michael Bosman and Anushka Bogdanov as independent non-executive directors,” said Chairman, Dr Xolani Mkhwanazi.

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