Governance

Zanele was appointed Chief Executive Officer of Merafe Resources Limited on 1 June 2012, after having served as its Chief Financial Officer from 1 October 2010. Her extensive financial services experience includes holding the position of CFO and Group Financial Director of Kagiso Trust Investments; Executive Manager: Private Sector Investments of the Development Bank of Southern Africa; as well as various positions at the Industrial Development Corporation, including heading the Wholesale Venture Capital Funds. Zanele was appointed as the Chairman of the Stefanutti Stocks Board in 2019.

Russell has over forty years of experience in the civil engineering construction industry, including working on several large projects that cover the full spectrum of construction activities. He joined Stefanutti Stocks in 1990 as a site agent. In May 2016 he was invited to join the EXCO, when he was appointed Managing Director of the Roads, Pipelines and Mining Services Business Unit (renamed in January 2018 to Construction & Mining). In August 2019 Russell was appointed as our Chief Executive Officer.

Yolanda qualified as a chartered accountant in 2006 and has more than 20 years’ experience in statutory reporting, audit, corporate governance and sustainability matters as well as tax. She joined Stocks Building Africa Proprietary Limited in 2007 and, in 2008, after the acquisition by Stefanutti Stocks was appointed as our Group Financial Manager. Yolanda held this position until her appointment as our Acting Chief Financial Officer in June 2021. She was appointed to the position of Chief Financial Officer in May 2022.

Howard was the Technical Director and Managing Director at Fraser Alexander Tailing from 1990 to 2000. Prior to this he held various senior positions at Sasol (from 2000 to 2009) and was the Chief Executive of Rand Refinery from 2009 to 2014. He serves on the boards of a number of private companies and promotes various infrastructural and industrial projects across Africa.

Bharti has 14 years of experience at the Industrial Development Corporation of South Africa where she was the Head of the Corporate Funding and International Finance departments. Her previous directorships include Bell Equipment Limited, Mineworkers Investment Company, Ethekwini Heart Hospital and Charities Aid Foundation.

Busi is Executive Director of Acendore LSB (Pty) Ltd. She has 15 years of banking experience working in Corporate and Investment Banking and Business Banking divisions. After working at ABSA Corporate & Investment Banking she joined Standard Bank Group’s Corporate & Investment Banking, where she spent about 10 years working as an Executive with responsibilities in Structured Finance, working across the Johannesburg and United Kingdom offices. Over four years Busi held several senior positions at Standard Bank Group’s Business Banking, including as an Executive heading the Leading business, the Mid-corporate, Medium-enterprises and Franchising segments. She then joined Royal Philips NV Africa in Johannesburg, where she spent three years heading Philips Capital business covering Africa. Busi has previously served as a member of the SAICA Education Committee and as Director on the board of SAICA’s Thuthuka Education Upliftment Bursary Fund.