Durban — Ithala State-Owned Company (SOC) sourced the services of veteran banker Mohamed Gafoor to serve as its new chief financial officer (CFO).
The financial institution said that before being appointed to this new role, Gafoor held the general manager of finance role since April 2022, having joined the organisation as a finance manager in March 2015.
In his new role, Gafoor will report to Ithala's CEO, Dr Thulani Vilakazi.
He will also assume the executive director role within Ithala SOC Limited Board.
“Mohamed's expertise and background in the financial industry and financial markets make him an invaluable asset to the growth of our organisation. While he has been part of the team, we are excited to welcome him in this new role,” said Dr Vilakazi.
Gafoor is a qualified chartered accountant and holds an Honours and BCom Accounting degrees, and has over 20 years of experience spanning banking/financial services, auditing, fast-moving consumer goods, retail, and manufacturing, to name a few.
“Gafoor has made a significant contribution to our finance function, and increasingly across the business, and as the board, we are delighted to see internal staff ascending to senior leadership roles in the organisation in line with our talent and succession planning strategy,” said board chairperson Mpumzi Pupuma.
Ithala SOC Limited CEO Dr Thulani Vilakazi said around Gafoor’s attaining the ropes of CFO, “I am excited to welcome Mohamed Gafoor to the executive team as we continue to grow exceptionally in executing our strategic priorities and build on our strong foundation. Gafoor has demonstrated exceptional leadership skills and business acumen during his years with Ithala, taking on numerous key responsibilities within the organisation”.
Elaborating, CFO Gafoor said: “I am very excited to continue to discharge my responsibilities and work closely with the executive management of Ithala. This will help strengthen our operations in remote and rural areas where Ithala has a significant number of customers.
“Our goal as an organisation is to emancipate the ordinary citizens through creation of personal wealth, and financial freedom.
“My personal goal is to see the majority of the people moving out of poverty and be financially independent to further contribute to the economy of our province.”
WhatsApp your views on this story to 071 485 7995.
Daily News