Michael Jordaan, newly appointed Mxit board of directors chairman and Francois Swart., CEO at Mxit. Image courtesy of Mxit.
South African venture capital (VC) firm Invenfin has announced the appointment of former First National Bank (FNB) chief executive officer (CEO) Michael Jordaan and former Vodacom CEO Pieter Uys to its board as executive directors.
Invenfin is a division of investment holding company Remgro, where Uys is currently investment executive.
“Both [Jordaan] and [Uys] are highly successful businessmen who have made major contributions to our economy. Each is a visionary when it comes to business strategy, innovation, and building world-class companies,” said Stuart Gast, executive director at Invenfin.
“We are very excited to have them on board and be in a position to tap into their extensive business knowledge and networks. Invenfin’s investments will benefit directly through Pieter and Michael providing strategic direction in building and scaling young businesses.”
Jordaan, who has been credited with leading a number of innovations at his former company, is currently chairperson at Mxit and has recently been appointed to the same position at Wines of South Africa (WOSA).
“A vibrant entrepreneurial sector is essential for the South African economy and a VC fund like Invenfin is an important player in this ecosystem”, said Jordaan. “Through our investment in businesses and providing strategic support, hopefully Invenfin can add to the list of home-grown, internationally-recognised success stories”.
Uys joined Vodacom in 1993 and led the development of the company, stepping down last year to be succeeded by Shameel Joosub.
“South Africa has many smart entrepreneurs, and has produced some of the world’s greatest innovations. It is a privilege to be part of the Invenfin team, and support companies that will be the next South African success stories,” he said.
