Abiel Mngomezulu
Chairperson (Independent)

Qualifications

Chairperson (Independent) BSc (Hons), MSc Engineering (Mining)

Age

69

Abiel joined the Merafe Board as an independent non-executive director in September 2010 and became Chairperson in May 2019. He was previously the President and Chief Executive Officer of Mintek, a state-owned enterprise responsible for mineral extraction technologies and beneficiation. Abiel also served on several boards of state-owned institutions involved in the mining sector. He is currently a board Chairperson at the South African Diamond and Precious Metals Regulator (SADPMR) and a director at Tshikululu Social Investment.

Abiel is Chairperson of the Merafe Nomination Committee, an invitee to the Audit and Risk Committee and a member of the Social, Ethics and Transformation Committee.

He is also a member of the Remuneration Committee.

David McGluwa
(Non-independent)

Qualifications

Executive Development Programme (GIBS), Corporate Credit Analysis (New York Institute of Finance)

Age

48

David joined the Merafe Board in July 2021. David has held various senior roles at the Industrial Development Corporation (IDC) since 1999 where prior to that he worked at First National Bank for four years. David was nominated to be director of the Board by the IDC, which has a 22% shareholding in Merafe.

David is a member of the Social, Ethics and Transformation Committee.

Nonhlanhla Mabusela‑Aikhuere
(Independent)

Qualifications

BCompt, CTA and CA(SA)

Age

47

Nonhlanhla joined the Merafe Board in July 2021. Nonhlanhla is an ex-investment banker with more than ten years’ experience in project and structured finance transactions. She completed her accounting articles at KPMG Inc, where she spent a year in the corporate finance department. She spent four years of her career at Nedbank Capital as a senior transactor in the power, oil and gas project finance department. She has also held various Chief Executive Officer positions in the mining and mining services space.

Nonhlanhla is the Chairperson for the Social, Ethics and Transformation Committee and a member of the Audit and Risk Committee.

Matsotso Vuso
(Independent)

Qualifications

CA(SA), CD(SA) RA

Age

50

Matsotso joined the Merafe Board in July 2018. She is the founder of Nyamezela Group of Companies, a multi-disciplinary group of companies with solutions spread across manufacturing

of smart electricity meters, energy management, business advisory services, consulting and contracting engineering. She has extensive experience in statutory and IT assurance, financial investments analysis and financial restructurings. She also serves on other boards as an independent director.

Matsotso is the Chairperson of the Audit and Risk Committee.

Daniel Green
(Non-independent)

Qualifications

CA(SA)

Age

35

Daniel joined the Merafe Board as a non-independent non-executive director on 26 November 2021. Daniel is a CA(SA) and has worked in banking, finance, marketing and mining corporate advisory for the past eleven years, the last seven of which have been in a number of roles within the Glencore Group. Daniel is currently the head of Business Development for Glencore’s Ferroalloys and South African Coal divisions.

Daniel is a member of the Remuneration and Nomination Committee.

Katlego Tlale
(Independent)

Qualifications

BCom (Acc), CA(SA)

Age

37

Katlego joined the Merafe Board in December 2020. He is currently the Group Chief Financial Officer of Letsema Group, a black-owned professional services firm which is part of a diversified investment company.

Prior to joining Letsema, Katlego was employed by Gold One Group Limited for five years. Prior to that he spent five years at KPMG Inc. where he was a member of the firm’s mining audit practice. He is also a non-executive director of Treasury One Proprietary Limited. Katlego is a member of the Audit and Risk Committee.

Jeff Mclaughlan
(Independent)

Qualifications

MBA, NDIP Elect, Cert Eng

Age

64

Jeff joined the Merafe Board in May 2019. He holds a Master’s degree in Business Administration and Finance from the Open University, an Advanced Professional Management Programme from the University of South Africa (Unisa) and a National Diploma in Electrical and Instrumentation.

He has more than 38 years’ experience in the South African mining sector including various roles at Middelburg Steel and Alloys Proprietary Limited, Consolidated Metallurgical Industries Limited, Xstrata South Africa Proprietary Limited and Glencore Operations South Africa Proprietary Limited. Jeff served two terms as President of the International Chrome Development Association and stood down in June 2017.

He is a member of the Institute of Electrical and Mechanical Engineers, South Africa. Jeff is Chairperson of the Remuneration Committee and serves on the Nomination Committee.

Zanele Matlala
Chief Executive Officer

Qualifications

BCom, BCompt (Hons), CA(SA)

Age

59

Zanele joined the Merafe Board in 2005 as an independent non-executive director. She was appointed Merafe’s Chief Financial Officer on 1 October 2010 and Chief Executive Officer on 1 June 2012.

She is a non-executive director of Dipula Income Fund, Stefanutti Stocks Holdings Limited, RAC Limited and Royal Bafokeng Platinum Limited.

Zanele is a member of the Social, Ethics and Transformation Committee and an invitee to the Audit and Risk Committee and the Remuneration and Nomination Committee.

Ditabe Chocho
Financial Director

Qualifications

CA(SA), MSc Financial Management

Age

52

Ditabe joined Merafe in August 2018 having previously been the Company’s Chief Financial Officer in 2013 and 2014. Ditabe is a qualified South African Chartered Accountant and he has extensive experience in financial and investment management gained during his tenure at various companies including Zico Capital Proprietary Limited, Aflease Gold, Uranium One Limited, Transnet SOC and Fraser Alexander Proprietary Limited.

He also served as Chief Financial Officer of MultiChoice Africa Proprietary Limited (MultiChoice) and subsequently served as Chief Financial Officer and Chief Operating Officer of DSTV Online, a division of MultiChoice in 2012.

Ditabe is a member of the Social, Ethics and Transformation Committee and an invitee to the Audit and Risk Committee and the Remuneration and Nomination Committee.

William Somerville
CorpStat Governance Services

Qualifications

FCIS, ACMA, Dip Corporate Law

Age

66

Appointed as Company Secretary on 1 October 2014

Note regarding the Company Secretary
The Company Secretary fulfils no executive management function and is not a director and provides services on an outsourced basis. Accordingly, the Board is satisfied that the Company Secretary maintains an arm’s-length relationship with the executive team, the Board and the individual directors.

Governance Directorate at 31 December 2022

Non-executive directors

Abiel

Abiel Mngomezulu (69)

Chairperson (Independent)

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David

David McGluwa (48)

(Non-independent)

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Nonhlanhla

Nonhlanhla Mabusela-Aikhuere (47)

(Independent)

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Vuso

Matsotso Vuso (50)

(Independent)

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daniel

Daniel Green (35)

(Non-independent)

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katlego

Katlego Tlale (37)

(Independent)

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Jeff

Jeff Mclaughlan (64)

(Independent)

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Executive directors

Zanele

Zanele Matlala (59)

Chief Executive Officer

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Ditabe

Ditabe Chocho (52)

Financial Director

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Company Secretary

William Somerville

William Somerville (66)

CorpStat Governance Services

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Board statistics as at 31 December 2022

33%
of our Board members are female, all of whom are black

(2021: 33%)

black females graph

78%
of our Board members are black

(2021: 78%)

black graph

56%
of our Board members are independent

(2021: 56%)

independant graph

78%
of our Board members are non-executive directors who do not receive share options or incentives

(2021: 78%)

graph non-executive

The Board at 17 March 2023 comprised Abiel Mngomezulu, Matsotso Vuso, Katlego Tlale, Jeff Mclaughlan, David McGluwa, Nonhlanhla Mabusela-Aikhuere,
Daniel Green, Zanele Matlala and Ditabe Chocho.


Age of Directors

2
2
5
60 years or older
51–60 years
50 years or younger

Tenure of Directors

2
1
6
9 years +
5–8 years
0–4 years