Telkom chief investment officer Deon Fredericks
Photo by: Dylan Slater
JSE-listed Telkom has appointed Tsholofelo Molefe as CFO and executive director, effective July 1, 2018, succeeding Deon Fredericks, who has been appointed chief investment officer to enhance the group’s investment strategy.
Qualified chartered accountant Molefe joined Telkom on July 1, 2016, as deputy CFO, and has been actively involved in the strategic decisions of the group, Telkom said in an update to shareholders.
In April 2017, she was appointed chief risk and compliance officer for the group executive committee to strengthen internal controls across the group.
She was formerly a CFO at State-owned Eskom and held various senior positions in Eskom, Absa and Liberty, besides others.
Fredericks will step down as CFO and director with effect from June 30, 2018, to take on his new responsibility, a move Telkom group CEO Sipho Maseko said enabled greater focus on Telkom’s investment strategy.
“Our most recent set of yearly financial results shows that our new revenue streams are beginning to offset Telkom’s traditional revenue streams. This confirms that we made the right investment decisions at the right time,” he said.
“The role of chief investment officer enables greater focus on Telkom’s investments to ensure the group’s participation in future revenue pools as it enters the growth phase of its strategy,” Maseko concluded.