Telkom’s CFO, Tsholofelo Molefe, has left the partially state-owned telecoms operator to join Africa’s largest mobile operator, MTN, as its group CFO.
Molefe, in her two-year tenure, led an effort to “de-risk the balance sheet, optimise working capital management through structural changes, and enhance the capital allocation framework to focus on return on investment”, said the company. Telkom said Dirk Reyneke, CFO of its infrastructure unit Openserve, will take over as acting group CFO, effective December 7 2020.
Molefe’s resignation comes as Telkom advised shareholders in late November that Molefe had cashed out R2.76m worth of company stock, awarded to her as share options.
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