In accordance with Section 3.59 of the JSE Limited Listings Requirements, shareholders are advised that Mr. Mfundiso Johnson Ntabankulu (“JJ”) Njeke has been appointed as Chairman and non-executive director of Adcorp with effect from 10 June 2010.
JJ obtained a B Com degree from the University of Fort Hare. He then registered for a training contract with Hoek and Wiehahn which later became part of PricewaterhouseCoopers. He enrolled with UNISA for a B Compt (Hons) degree and qualified as a Chartered Accountant in 1986. Two years later he was admitted as a partner in Umtata. He moved to Johannesburg in 1990 and enrolled with The University of Johannesburg for a Higher Diploma in Tax which he completed in 1991. He resigned from PricewaterhouseCoopers in 1994 to become Managing Director of Kagiso Trust Investments.
He is the past Chairman of the South African Institute of Chartered Accountants and its Education Committee. He serves on the Boards of Kagiso Group companies, ArcelorMittal (SA), Metropolitan Holdings, N M Rothschild (SA), Resilient Property Income Fund, MTN, Barloworld, Sasol and the Council of the University of Johannesburg.
He previously served as a member of the Katz Commission of Inquiry into Taxation in South Africa, the General Committee of the JSE Securities Exchange, the Audit Commission – Supervisory Body of the Office of Auditor General, the Audit Committee of National Treasury and the Editorial Board of “The Journal of Accounting Research”.