JSE-listed petrochemicals giant, Sasol, on Monday said it had appointed Bongani Nqwababa as its new CFO with effect from March 1 next year.

Nqwababa, who was the CFO at the troubled power utility, Eskom, during the 2008 global financial crisis, will replace Christine Ramon, who resigned from Sasol earlier this year after seven years at the company.

Nqwababa has been the Finance Director of Anglo American Platinum since 2009 and was also CFO of Shell Southern Africa. Nqwababa holds an Honours degree in Accounting from the University of Zimbabwe and qualified as a chartered accountant in Zimbabwe in 1991, after training with PricewaterhouseCoopers. He also obtained an MBA from the Universities of Manchester and Wales, Bangor in 1999.

David Constable, the CEO of Sasol, said the appointment of Nqwababa followed an extensive search to find a CFO who had both the breadth and depth of experience within the broader global resources and energy sectors.
Paul Victor will continue as acting CFO of Sasol until the date of Nqwababa’s assumption of office, to ensure a seamless transition.

“Paul hit the ground running as our Acting CFO a year ago. He has been doing an outstanding job in leading the finance function during our extensive change programme. Going forward, Paul will continue to fulfil a crucial executive role within the Finance function, and will serve as Bongani’s right-hand within the department,” said Constable.