| Thu 5 Dec 2024, 14:51 | | Appointment of a Chief Executive Officer and Executive Director of the Industrial Development Corporation - IN02 |
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Appointment of a Chief Executive Officer and Executive Director of the Industrial Development Corporation - IN02
Industrial Development Corporation of South Africa Limited
Incorporated in the Republic of South Africa) ("IDC")
Registration No. 1940/014201/06)
Issuer code: IN02
APPOINTMENT OF A CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR OF THE INDUSTRIAL DEVELOPMENT CORPORATION
In accordance with section 6.42 of the JSE Limited Debt & Specialist Securities Listings Requirements of
the , the Board of Directors of the IDC ("the Board") is pleased to announce that the Cabinet, at its meeting
of 04 December 2024, approved the recommendation of the IDC Board to appoint Ms Mmakgoshi Lekhethe
as the Chief Executive Officer and executive director of the IDC. Her appointment was made in accordance
with the IDC Recruitment & Selection policy.
Ms Lekhethe holds a BCom (Economics) degree from the University of Durban Westville, a BCom Hons
(Economics) from the University of the Witwatersrand and a MSc (International Economics) from the
University of London, SOAS, UK.
Her experience spans over 20 years, with a demonstrated history of Executive Leadership roles in
international financial institutions, multilateral development banks and, global economic bodies (G20, WEF,
BRICS). And, domestically and regionally, spearheaded economic and financial sector integration. She is
currently an executive manager at National Treasury, where she has served in various senior roles for over
20 years including her current role as Deputy Director-General: Asset and Liability Management.
The Board takes this opportunity to welcome Ms Lekhethe to the IDC and looks forward to her leadership
and contribution to the Corporation. An announcement of Ms Lekhethe's commencement date at the IDC
will be made once she has finalised engagements with her current employer, National Treasury.
The Board extends its appreciation to Mr. David Jarvis, who has served as Interim CEO and executive
director of the Corporation since 1 October 2023. Mr Jarvis will continue to serve as Interim CEO until Ms
Lekhethe's commencement. His dedication, expertise, and leadership have been invaluable during this
transitional period.
Johannesburg
05 December 2024
Debt Sponsor
Absa Corporate and Investment Banking (Debt Sponsor)
Date: 05-12-2024 02:51:00
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