SBN Holdings Limited, a key player in Namibia’s financial sector, has announced a significant leadership transition with the appointment of Ms. Elizabeth du Toit as the Acting Chief Financial Officer (CFO). This decision follows the resignation of the former CFO, a move initially communicated to shareholders on November 30, 2022. The appointment of Ms. du Toit, effective from August 18, 2023, comes after the company’s pursuit of a suitable candidate through a robust recruitment process, subject to regulatory approval.
| Role | Effective Date | Duration |
|---|---|---|
| Acting CFO | August 18, 2023 | 6 months |
The announcement, made in accordance with paragraph 6.39 of the JSE Debt Listings Requirements, extends to noteholders the news of Ms. Elizabeth du Toit’s appointment. This regulatory approval, secured and implemented on August 18, 2023, authorizes her to lead the company’s financial operations for a period of six months.
Ms. du Toit’s credentials and experience lend themselves well to this transitional role. Having previously held the position of Head: Financial Accounting within SBN Holdings, she brings an in-depth understanding of the company’s financial intricacies, coupled with a profound knowledge of industry best practices. Her ascendancy to the role of Acting CFO is expected to facilitate a seamless continuation of financial leadership and strategy.
The Board of Directors has expressed their unwavering confidence in Ms. du Toit’s ability to guide the company’s financial affairs during this pivotal phase. Her familiarity with the company’s financial structure and operations is seen as a distinct advantage in navigating this transitional period.
The announcement marks a clear step towards SBN Holdings’ commitment to maintaining financial stability and continuity. In a landscape where consistent and reliable financial leadership is paramount, the selection of Ms. du Toit reflects the company’s dedication to its stakeholders and shareholders.
The registered office of SBN Holdings is situated at Standard Bank Namibia Limited, 1 Chasie Street, Kleine Kuppe, Windhoek. Furthermore, the company’s choice of The Standard Bank of South Africa as the Debt Sponsor underscores its dedication to upholding the highest standards of financial governance.
This leadership transition signals a new chapter in SBN Holdings’ journey, demonstrating its resilience and adaptability. While the appointment of an Acting CFO represents a temporary arrangement, it reinforces the company’s commitment to maintaining its financial operations with expertise and diligence.
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