JOHANNESBURG – Nedbank said on Friday that prominent black businessman Reuel Khoza will become the company’s next chairman, to replace Warren Clewlow, who will retire in May 2006.
Khoza will be the first black South African to be chairman of one of the country’s four big banking groups. He is currently non-executive director of Nedbank, and a former chairman of state-owned power utility Eskom.He also headed Aka Capital, a partner in Nedbank’s black economic empowerment deal, under which the group sold an 11,5 per cent stake in Nedbank’s South African business to black investors and staff.- Nampa-ReutersHe is currently non-executive director of Nedbank, and a former chairman of state-owned power utility Eskom.He also headed Aka Capital, a partner in Nedbank’s black economic empowerment deal, under which the group sold an 11,5 per cent stake in Nedbank’s South African business to black investors and staff.- Nampa-Reuters
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