Four new non-executive directors appointed for 4AX

Mfundiso Johnson Ntabankulu (also known as JJ) Njeke, Thabo Vincent Mokgatlha, Prof Deon Rossouw and Theo Vorster have been appointed as independent, non-executive directors to the 4AX board, effective immediately. The appointees will play an active role in offering perspective and guidance on market and business related aspects, and review and assist in formalising the growing scope of the exchange’s market strategy.

Fay Mukaddam (pictured), 4AX CEO, said:

"We are thrilled about these appointments as each appointee brings with them different depth of expertise that collectively will add immense value to our business growth as 4AX continues to become the logical choice as an alternative listing and trading option in the local market."

As a CA, JJ Njeke served as a Partner at PwC before joining Kagiso Trust Investments in June 1994 as MD. He remained in this position, serving on various boards within the Kagiso group, until his resignation on 30 June 2010. In addition to being the executive chairman of Silver Unicorn, JJ Njeke also serves on a number of boards as a non-executive director.

Thabo Vincent Mokgatlha is the CEO of Nutritional Holdings Ltd and has extensive experience in financial markets, having served a number of positions throughout his career of 18 years, and having held several executive and non-executive roles on a number of boards of local companies.

Prof Deon Rossouw, CEO of The Ethics Institute and Extraordinary Professor in Philosophy at the University of Stellenbosch, is an internationally recognised expert in Business Ethics and the Ethics of Corporate Governance. He was the Founding President of the Business Ethics Network of Africa (BEN-Africa) and served as President of the International Society of Business, Economics and Ethics (ISBEE). He currently serves on the main committee of the Fourth King Report on Corporate Governance for South Africa and has been recognised as a chartered director by the Institute of Directors of South Africa.

After completing his studies and spending two years trading on the floor of the old JSE, Theo Vorster, CEO of Galileo Capital, spent time in the financial markets in London and Zurich. On his return he joined Deloitte Management Consulting, focussing on the treasury and funding structure for the Lesotho Highlands Water Project. Theo became the CEO of PSG Online Securities in the late 1990s and, during 2005, was a joint-founder of Galileo Capital, where he currently serves as the CEO and is still a major shareholder. Vorster also serves as a non-executive director on a number of boards.

In addition to these appointments, the exchange is preparing for its first six listings and has also received an application from Avior (through A-trade) to operate as the exchange's first broker.

Mukaddam added:

"It is certainly an exciting time to enter South Africa's capital markets and I am delighted to have each of these appointees join our board - and to be at the helm of such a young and well-regulated market player with great potential and strong shareholders. And I'm looking forward to our board driving 4AX as a vehicle for economic transformation in South Africa - and what promises to be an exciting year for us."