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JJ Njeke

Johan Burger

JJ Njeke (56)

Non-executive, independent

BCom, BCompt (Hons), CA(SA), HDip Tax

Appointed to board: 2010

JJ Njeke, a chartered accountant, spent six years as audit partner at PricewaterhouseCoopers prior to his appointment as managing director of Kagiso Trust Investments on 1 June 1994. He remained in this position, serving on various boards in the Kagiso group, until his resignation on 30 June 2010.

He is presently the executive chairman of Silver Unicorn Trading 33 (Pty) Ltd.

He serves on the boards of Adcorp Holdings Ltd, Resilient Property Income Fund Ltd, MTN Group Ltd, Sasol Ltd and the Council of the University of Johannesburg.

Johan Burger (56)

Deputy chairman
Non-executive, independent

BCom (Hons), CA(SA)

Appointed to board: 2010

Johan Burger graduated from the University of Johannesburg in 1983 and qualified as a chartered accountant after serving articles with PricewaterhouseCoopers. He joined Rand Merchant Bank in 1986 and was appointed as a financial director in 1995.

In January 2009, he was appointed as group chief operating officer. He assumed the role of deputy chief executive officer in October 2013 and chief executive officer designate in March 2015.

He currently serves on the boards of FirstRand Ltd, FirstRand Bank Ltd and the Council of the University of Johannesburg.

Nicolaas Kruger

Ngao Motsei

Preston Speckmann

Mary Vilakazi

Nicolaas Kruger (47)

Group chief executive officer

BCom, FFA, FASSA, AMP (Oxford)

Appointed to board: 2010

Nicolaas Kruger started his career at Momentum as an actuarial assistant in July 1991. He was appointed as chief actuary of Momentum in 1997 and held this statutory role for 10 years up to the beginning of 2007. He was divisional chief executive officer of the employee benefits and health business in 2005 and 2006. He became chief financial officer of Momentum Group in 2007 and was appointed chief executive officer of Momentum Group in January 2009. In December 2010, he was appointed group chief executive officer of MMI Holdings following the merger between Metropolitan and Momentum.

His other directorships include Association for Savings and Investment South Africa (ASISA), MMI Group Ltd and various other subsidiary companies within the MMI Holdings group.

Ngao Motsei (50)

Group executive: strategic human resources and transformation

BSocSc (Hons) (UCT), MRP (Cornell University), IOSD (Gestalt Institute of Cleveland), BSHR (INSEAD)

Appointed to board: 2012
Resigned: 30 June 2015

Ngao Motsei held various senior positions before joining MMI Holdings. She joined MMI Holdings from the South African Reserve Bank where she was Head of Change Management. She serves on the board of MMI Holdings Ltd and various other subsidiary companies within the MMI Holdings group.

Preston Speckmann (58)

Group finance director

BCompt (Hons), CA(SA)

Appointed to board: 2010
Retired: 30 June 2015

Preston Speckmann held a senior position at Old Mutual before joining Metropolitan. He was previously an audit partner at PricewaterhouseCoopers and held directorships in the Pepkor Group and Seagram SA.

He serves on the board of the MMI Group Ltd and various other subsidiary companies within the MMI Holdings group.

Mary Vilakazi (37)

Group finance director

BCom (Hons), HDip Auditing, CA(SA)

Appointed to board: 1 July 2015

Mary is a former partner at PricewaterhouseCoopers where she specialised in the audit of financial services companies. In 2008, she exited the auditing profession and joined an entrepreneurial business where she became chief financial officer of the Mineral Services Group. Subsequently, Mary spent a number of years providing consulting services to various private companies in the areas of finance and tax as well as serving as a non-executive director on the MMI Holdings Limited, Kagiso Media Limited and Holdsport Limited (Sportsmans and Outdoor Warehouse) Boards.

Mary resigned from her role as non-executive director of these Boards in 2013 to take up the position as chief executive officer of the Balance Sheet Management unit at MMI Holdings Limited. She was appointed group finance director of MMI Holdings Limited on 1 July 2015. She continues to serve as a non-executive director at DBSA (Development Bank of South Africa).

Leon Crouse

Fatima Jakoet

Niel Krige

Jabu Moleketi

Leon Crouse (62)

Non-executive, non-independent

BCom (Acc), certificate in the theory of accounting, CA(SA)

Appointed to board: 2012

Leon Crouse has a rich working history spanning 40 years. He has experience in South Africa and Europe in varying financial roles of prominent global brands. He was a founding member of Vodacom, serving for 15 years as director and chief financial officer. Leon joined Remgro in April 2008 as director and chief financial officer.

Leon is a director on the following boards: Dark Fibre Africa (Pty) Ltd, FirstRand Ltd, FirstRand Bank Ltd, Total South Africa (Pty) Ltd, Remgro Ltd, Rand Merchant Bank Holdings Ltd and Rand Merchant Insurance Holdings Ltd (alternate).

Fatima Jakoet (54)

Non-executive, independent


Appointed to board: 2010

Fatima Jakoet currently conducts her own business consulting practice. She has extensive corporate experience and has served on many listed boards since 1994.

She previously served on the Metropolitan board (May 1996 to November 2001). She is currently a director of certain subsidiaries in the MTN Group, Clicks Group Ltd, Tongaat Hulett Ltd, Afrisam Group (Pty) Ltd and Rand Refinery (Pty) Ltd.

Niel Krige (66)

Non-executive, independent

MCom, FIA (London), AMP (Harvard)

Appointed to board: 2011

Prof Niel Krige has 30 years’ experience in the life insurance and asset management industries. He was managing director of Momentum Life from 1988 to 1994, deputy chairman of the Momentum Group from 1995 to 2003 and chairman of the Life Offices Association from 2001 to 2002.

His current positions include: professor, University of Stellenbosch; director, Momentum Investments; chairman, Board of Trustees Denel Retirement Fund; chairman, Investment Committee, University of Stellenbosch Retirement Fund.

Jabu Moleketi (58)

Non-executive, independent

AMP (Harvard), MSc in financial economics (University of London), post-graduate diploma in economic principles (University of London)

Appointed to board: 2010

Jabu Moleketi was the deputy minister of finance (2004 to 2008) and a founding member of BlueIQ, which included the Gautrain project. In 2004, he was appointed chairman of the Public Investment Corporation and served for four years. He was the alternate governor of the IMF, representing South Africa from 2004 to 2008, as well as the former chairman of the finance and procurement board committee of the 2010 FIFA World Cup local organising committee.

He is currently a non-executive chairman of Harith Fund Managers (Pty) Ltd, Brait SE Ltd and the Development Bank of Southern Africa (DBSA). He is also a director of several JSE-listed companies.

Syd Muller

Vuyisa Nkonyeni

Khehla Shubane

Sizwe Nxasana

Syd Muller (66)

Non-executive, independent

BCom (Hons), CA(SA), MBA, AMP (Harvard)

Appointed to board: 2010

Syd Muller was formerly the chairman of Woolworths Holdings and a director of other companies in the Wooltru group. He is chairman of Holdsport Ltd, and the sub-Saharan African review board of Air Liquide SA and serves as a non-executive director on the board of Choppies Enterprises Ltd. He is active on the boards of a number of private companies.

Vuyisa Nkonyeni (45)

Non-executive, non-independent

BSc (Hons), CA(SA)

Appointed to board: 2011

Vuyisa Nkonyeni has more than 15 years’ experience in investment banking and private equity. He is a chartered accountant, having served his training contract with PricewaterhouseCoopers. Upon leaving PricewaterhouseCoopers, he joined Deutsche Bank in 1997, where he gained investment banking experience primarily in corporate and project finance advisory work over a four-year period. Previously, he has also served as the financial director of Worldwide African Investment Holdings (Pty) Ltd and as director at Actis LLP in their black economic empowerment funding unit. He was appointed as chief executive officer of Kagiso Tiso Holdings in January 2012.

He also serves on the boards of Emira Property Fund and Idwala Industrial Holdings (Pty) Ltd.

Khehla Shubane (59)

Non-executive, independent

BA (Hons), MBA

Appointed to board: 2010

Khehla Shubane is currently an independent policy analyst and consultant. He was employed at the BusinessMap Foundation, a monitoring and research organisation focusing on black economic empowerment. He has also worked for the Nelson Mandela Foundation as chief executive officer. He was a member of the Soweto Civic Association, a body that represented the local community in opposition to the then official local government institutions.

He is currently a director of RMB Holdings Ltd, RMI Holdings Ltd, The Johannesburg Metropolitan Bus Company (Pty) Ltd and Nurcha (NPC).

Sizwe Nxasana (57)*

Non-executive, independent

BCom, BCompt (Hons), CA(SA)

Appointed to board: 2010
* Resignation effective 30 September 2015

Sizwe Nxasana started his career at Unilever. In 1989, he established Sizwe & Co, the first black-owned audit practice in KwaZulu-Natal. In 1996, he became a founding partner of Nkonki Sizwe Ntsaluba, the first black-owned national firm of accountants, and was national managing partner until 1998 when he joined Telkom SA as chief executive officer.

In January 2006, he took over as chief executive officer of FirstRand Bank, the wholly-owned subsidiary of FirstRand Ltd, responsible for the entire banking operations of the group, including First National Bank, Rand Merchant Bank and WesBank. In January 2010, he was appointed chief executive officer of the FirstRand Group

Frans Truter

Ben van der Ross

Johan van Reenen

Louis von Zeuner

Frans Truter (59)

Non-executive, independent

BCom (Hons), CA(SA), AMP (Oxford)

Appointed to board: 2010

Frans Truter was an associate director at Deloitte and worked at the South African Reserve Bank. He joined Momentum in 1988 as chief financial officer and over the years he has been involved with the transactions to acquire Lifegro, Southern Life, Sage and Sovereign Health. He also served as executive director of strategic investments at Momentum. He resigned as a Momentum Group executive in 2007. He is currently involved in certain private equity investments and serves as a non-executive director on the boards of a number of companies.

Ben van der Ross (68)

Non-executive, independent

Dip Law (UCT)

Appointed to board: 2010

Ben van der Ross was admitted to the Cape Side Bar as an attorney and conveyancer, and had a private practice for 16 years. He was an executive director with the Urban Foundation for five years up to 1990 and thereafter of the Independent Development Trust, where he was deputy chief executive officer from 1995 to 1998. He acted as chief executive officer of the South African Rail Commuter Corporation from 2001 to 2003 and as chief executive officer of Business South Africa from 2003 to 2004. He served on the board of The Southern Life Association from 1986 until the formation of the FirstRand Group in 1998.

He is currently a director of FirstRand Ltd, Strategic Real Estate Management (Pty) Ltd, Distell Group Ltd, Lewis Group Ltd, Naspers Ltd and Pick n Pay Stores Ltd.

Johan van Reenen (60)

Non-executive, independent

BSc (Hons), MBA

Appointed to board: 2010

Johan van Reenen is currently an executive director of Imalivest. He has a wealth of expertise and experience in investment banking and asset management, both locally and internationally.

Louis von Zeuner (54)

Non-executive, independent


Appointed to board: 2014

Louis von Zeuner completed 32 years’ service at Absa and served as deputy group chief executive officer from 2009 until 31 December 2012. He has extensive business experience, including experience in audit, risk and capital matters, particularly in the financial sector.

He currently serves on the boards of Telkom, Edcon, Eqstra, Afgri, Paycorp as well as SA Rugby and Cricket SA. He has been appointed chairman designate of the Good Bank at African Bank.

Maliga Chetty
Company secretary

Maliga Chetty (45)

Company secretary


Appointed: 2013

Maliga Chetty is the MMI group company secretary. She has been an admitted attorney and conveyancer for over 12 years. She has extensive legal and company secretarial experience in the health and financial services sectors. Prior to joining Momentum, she was employed by the South African Medical Association and Ernst & Young. She has been an employee of the MMI Group as a company secretary since 2010, and filled the role of group company secretary from September 2013.

All directors appointed on the MMI Holdings Board, at the time of the merger, were taken to be appointed on the Board with effect from 1 December 2010, being the effective date of the merger. It should be noted that MMI Holdings Ltd (previously Metropolitan Holdings Ltd) was incorporated on 21 December 2000.

Directors’ ages as at 30 June 2015.