Financial services group Alexander Forbes (AF) has announced the appointment of Refiloe Nkadimeng as non-executive director of the company.
The appointment of Nkadimeng, who is the chief financial officer (CFO) of Patrice Motsepe’s investment vehicle African Rainbow Capital (ARC), comes soon after ARC replaced Mercer Africa as the largest shareholder in AF after it increased its holding in the company from 13.7% to 28.6% of the issued ordinary shares.
ARC is a subsidiary of Motsepe’s company, Ubuntu Botho Investments, a company of which Nkadimeng is also the CFO of.
AF in a statement said Nkadimeng’s appointment was with effect from today.
“Refiloe, a CA(SA), has over 16 years professional experience and 10 years board experience spread, across diverse industries, including financial and property management services, mining services and supplies, tourism, automotive and engineering, where she has, inter alia, served as chairperson of finance committees and member of audit and risk committees,” said the company.
