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Alexander Forbes' former chief exec will only start at Amabubesi Investments next year

By unknown | Nov 19, 2007 | COMMENTS [ 0 ]

Leseja Mokgata

Leseja Mokgata

Peter Moyo is looking surprisingly relaxed, clicking away at his laptop outside a Sandton coffee shop, only days after announcing his sudden departure from financial services giant Alexander Forbes last week.

"A friend of mine is writing a children's book," he explains.with a smile.

"She asked me to write something for the intro. I'm just finishing off the last few paragraphs."

One would expect a man in Moyo's position to be writing frantic letters to shareholders or employees setting them at ease about the future of the company.

Moyo, however, says that he has already moved past the situation and takes another sip of his cappuccino.

"I like this place," he chimes.

"I can have my meetings here and it's close to the highway. I have to be in Pretoria in half an hour. I don't go into the office anymore; what would be the use if I'm not involved in any more big decisions?"

He lounges calmly in the sunny outdoor courtyard, and muses about his future with Amabubesi Investments, a company he started with Thabiso Tlelai and chief executive Sango Ntsabula.

"I genuinely liked the company [Alexander Forbes], but I felt this was a good time for me to leave. Next year I'll be taking on a permanent position at Amabubesi, but for now I'll be seeing more of my kids."

Last week Moyo announced his resignation from Alexander Forbes as chief executive, citing irreconcilable differences with the board.

Though Moyo declines to comment further on the reasons for his departure, he says that he was still very good friends with his executive committee - the team he led.

"My main issue was with certain positions that the board was taking.

"They asked me to stay, but it was time for me to move on and focus on Amabubesi."

"I'm a strong believer in black people and at Amabubesi I believe we can create a lot of regeneration of black business," he says.

"We need more black companies led directly by black people with serious business experience."

Amabubesi has majority holding in several companies, including a 26 percent stake in Iso Leisure, and an interest in Growth Point, Basil Read Holdings, Enaleni Pharmaceuticals, Digicore Fleet Management and Peregrine Technologies.

Moyo says: "I'll be working much closer with the companies, assisting them with whatever management issues they feel we can provide, but until then I'll be working on my golf game and figuring out a camera I just bought."


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