Lesibana Fosu appointed as PRASA's first permanent CFO since 2014

The new CFO brings with her critical skills to support the stabilisation of the finance department.

The Passenger Rail Agency of South Africa (PRASA), which has been without a permanent chief financial officer since 2014, announced the appointment of Japhtalina Lesibana Fosu to the role on Monday 2 September. 

The group released a statement that said: 

"Fosu has over 19 years of extensive experience in the public sector, private sector, non-governmental institution and international financial institutions.” 

Lesibana is a qualified chartered accountant with an MBA from IMD Business School in Switzerland. She received a Clean Audit Award from the Auditor General for her work at the Limpopo Road Accident Fund for clean unqualified opinions for two consecutive years between 2012 and 2014. 

PRASA has been in the process of recruiting group executives in the hopes of stabilising the agency, which has come under fire for reports of irregularities. The CFO role in particular is expected to deliver the financial guidance that is needed. 

The statement further read: 

“Prasa has been without a CFO since 2014. This has resulted in an unstable finance department that has not delivered clean audits since 2014… Fosu brings various critical skills to the business including strategy development and implementation, business transformation and change management, governance and project development."