Sitho Mdlalose appointed FD of now standalone Vodacom South Africa
Vodacom South Africa will be operating as a standalone company after a Vodacom Group restructure.
Sitho Mdlalose has been appointed as the new Vodacom South Africa financial director with effect from 1 July 2020.
The Vodacom Group has simplified its structure following the recent expansion of its African portfolio and accelerated growth ambitions on the continent, including financial and digital services. As a result, Vodacom South Africa will now operate as a standalone company.
According to a statement, for the Vodacom Group to play a central role of overseeing all operations across its African footprint, it had to create a standalone South African operating company.
Sitho is a qualified chartered accountant and joined Vodafone UK in 2007 holding various senior roles in finance and internal audit.
The statement said, in his current role, Sitho has had a strong role in the leadership of Vodacom South Africa through his input in areas wider than finance, icluding commercial and operational areas.
Previously, he was the CFO of Vodacom’s International Business.
Vodacom Group CEO Shameel Joosub said:
“The stellar financial performance of our international portfolio combined with the added responsibility of managing Vodafone Ghana and accelerating the growth of financial and digital services means that we needed to put the right structure in place to deliver on our ambition of becoming a leading Pan African technology company. This includes the decoupling of Vodacom South Africa as a standalone business.”
Balesh Sharma will be leading Vodacom South Africa as its managing director and Beverly Ngwenya has been appointed to the new Vodacom South Africa exco as technology director.
“Under Balesh’s leadership, I am confident that the increased focus will leverage the numerous opportunities that exist in South Africa from both our traditional Telco business and our technology-focused growth acceleration units. The new structure will also place heightened emphasis on our international portfolio and new growth areas to ensure that we continue to diversify our revenue streams,” Shameel said.