The board of the South African National Roads Agency Limited (Sanral) has announced the appointment of Reginald Lavhelesani Demana as the entity’s new CEO.
Demana’s appointment is subject to standard clearance and verification procedures.
Sanral has been without a permanent CEO since November last year.
Demana is currently a divisional executive at the State-owned Industrial Development Corporation (IDC), where he is responsible for a portfolio that covers the mining, metals, infrastructure and energy sectors.
He is a trained engineer and has more than 20 years’ experience, including in the investment banking sector.
Demana’s expertise includes mergers and acquisitions, the structuring of empowerment deals, capital raising and general strategic corporate finance.
He is also a former CEO of JSE-listed coal mining and trading company Wescoal, which was recently renamed Salungano.
Demana began his professional working career as a mining engineering trainee at Anglo American Platinum, and then as a mine health and safety inspector with the Department of Mineral Resources and Energy.
He holds a BSc in Mining Engineering from the University of the Witwatersrand and an MSc in Mining Engineering (with distinction) from Exeter University in the UK.
The Sanral board believes Demana will contribute towards the stabilisation of the road agency’s finances, particularly the toll portfolio, and that he will continue implementing the company’s mandate to plan, build and maintain the national road network “with the excellence associated with Sanral”, given his “impressive educational qualifications, experience in senior strategic positions and the leading roles he has played in corporate finance in general”.
Current acting CEO Lehlohonolo Memeza will continue in this role until Demana assumes responsibility.
“As soon as formal communication is received from the Minister of Transport, the board will finalise all processes relating to the appointment,” notes board chairperson Themba Mhambi.