Xolani Mbambo will take on the role of CFO and executive director at Kumba Iron Ore from 1 January 2026.
He will take over from current CFO Bothwell Mazarura, who will be stepping down from his role to pursue other interests, after close on eight years of service since his appointment in September 2017.
Bothwell will continue to serve as CFO and executive director during his six-month notice period until 31 December 2025 to ensure a smooth transition.
“It has been a privilege to serve as CFO of Kumba. The journey has been filled with immense pride in what we have achieved together. The Kumba family is truly special, and I will always cherish the relationships and memories built here. While I will leave Kumba later this year, my commitment to delivering our clear objectives for the remainder of this year is as firm as ever,” he says.
Xolani is a seasoned executive, with over 20 years of experience in mining, logistics and finance, having held senior leadership roles at Grindrod and previously at Anglo American, where he gained extensive experience across finance, project execution, business performance analysis and commodity marketing.
He is a qualified chartered accountant and has an advanced management programme from Harvard under his belt.
Currently the CEO of Grindrod, Xolani will also serve on Kumba Iron Ore’s social, ethics and transformation committee and the strategy and investment committee in his new role.
