In a strategic move to bolster its leadership and tap into a wealth of experience, Sygnia Limited has announced the appointment of Mr. Aboubakar (Bakar) Jakoet as an independent non-executive director, effective from 07 August 2023. The decision, made in accordance with paragraph 3.59 of the JSE Limited Listings Requirements, reflects Sygnia’s commitment to driving excellence and expertise within its board of directors.

Mr. Jakoet, a distinguished Chartered Accountant, carries with him a remarkable track record, having served as the Chief Financial Officer and Executive Director of Pick n Pay Stores Ltd (“Pick n Pay”) from 2011 until his departure in 2019. His tenure at Pick n Pay is marked by his instrumental role in shaping the company’s financial landscape and strategic direction.

Under his guidance, Pick n Pay witnessed significant financial growth and operational efficiency. Mr. Jakoet’s leadership was crucial in navigating the complexities of the retail sector, ensuring the company’s financial health while maintaining a sharp focus on innovation and customer-centric practices.

As a testament to his ongoing dedication, Mr. Jakoet continues to contribute his expertise to Pick n Pay, albeit in a non-executive capacity. He currently serves as the Chairperson of the Group Audit Risk and Compliance Committee and is an active member of the Remuneration Committee. These roles underscore his unwavering commitment to upholding corporate governance standards and financial accountability.

Beyond the realm of retail, Mr. Jakoet’s impact extends to his engagement with the University of Cape Town Council, where he served as a council member. His role as Deputy Chairman of the UCT Finance Committee exemplifies his commitment to advancing educational institutions’ financial sustainability and growth.

Mr. Jakoet’s influence also extends to his position as a non-executive director of Oceana Group Limited, a leading seafood company. In this capacity, he serves as the Chairman of the Risk Committee and plays a key role in the Audit Committee. His expertise in risk management and financial oversight has contributed significantly to Oceana’s operational resilience.

Building on his remarkable career trajectory, Mr. Jakoet’s appointment to Sygnia’s board also includes a role on the company’s Audit & Risk Committee. This appointment underlines Sygnia’s dedication to reinforcing its internal control mechanisms and risk management strategies.