Sasol new financial officer to start in March

Bongani Nqwababa has been appointed chief financial officer and executive director of Sasol, the company said on Monday.

The appointment takes effect from March 1 next year.

Nqwababa has been an independent non-executive director and member of Sasol's audit committee since December 5 last year.

He has been a finance director of Anglo American Platinum Limited since 2009, and is also audit committee chairman of the SA Revenue Service.

"Bongani is certainly no stranger to Sasol. We are delighted that he has agreed to make the shift from being one of our non-executive board members to fulfilling a key role on the management team of the company," Sasol president and CEO David Constable said.

"Bongani's appointment concludes what was an extensive search to find a CFO who has both the breadth and depth of experience within the broader global resources and energy sectors."

Nqwababa has an honours degree in accounting from the University of Zimbabwe and qualified as a chartered accountant in 1991. He obtained a masters degree in business administration in 1999.

Sasol said Paul Victor would continue as acting CFO in the interim.

"Paul will continue to fulfil a crucial executive role within the finance function, and will serve as Bongani's right-hand within the department," Constable said.

Nomgando Matyumza was appointed to replace Nqwababa as a member of Sasol's audit committee, with effect from last Friday.