ITHUBA BOARD OF DIRECTORS
The composition of ITHUBA’s Board of Directors reflects the philosophy that there is no greater company asset than the relevant knowledge, skill and experience of its people. Each executive director brings to the table their hard-earned management credibility, proven business acumen and extensive governance experience gained by serving on the boards of several influential local and multinational companies.
The combination makes for a sound governance structure with expertise in all areas highlighted by the King III report on good business practice in terms of Board composition that is relevant to the strategic objectives of a South African National Lottery License operator.
Molefe Seth Phalatse has over 47 years of corporate and executive management experience, primarily in the motor industry. Mr Phalatse served as an Executive Director at BMW South Africa for 24 years and as a Non –Executive Director for 10 years. He serves as the Chairman of Da Vinci Holdings, Institute for Global Dialogue, Ritz Pumps South Africa, and as the President of the Southern African German Chamber of Commerce. He also holds Non-Executive Directorship at Robert Bosch SA, Emerson Network Power and International Ferrochrome Metals. One of his past Directorships includes Uthingo where he gained experience in the lottery business. Not only do these roles allow him to lend his influence in the gaming industry and a number of other industries, but also provide him with an extensive network in both the public and private sectors.
Phalatse’s early career was in marketing and sales and over the past four decades he has also developed excellent strategic and operational skills. As the Chairman for ITHUBA, he brings additional competencies of communication, negotiation and people management skills to the new structure and his track record in business, international ventures and South African multinationals adds depth of strategic guidance to the board.
Mrs. Charmaine Mabuza is ITHUBA’s Managing Director and co-founder. Charmaine was born and educated in Kwa-Zulu Natal – raised by an entrepreneurial mother; she gained an astute understanding of business from hands-on involvement in various family owned enterprises.
With this as her frame of reference she became one of the first Director Board Members of Women Investment Portfolio Holdings Limited (WIPHOLD); the first black women-owned company to list on the JSE with a net asset value of R1.2 billion.
Mrs. Mabuza has occupied several notable leadership positions including managing director of Empilweni Payout Services (Pty) Ltd; Trustee on the Board of GRIP, an NPO established in 2000 in response to the high levels of child rape and concordant escalation of HIV/Aids in survivors; Deputy Chair for the Mpumalanga Provincial University Council; and she has served as Sheriff of the High Court and was appointed to the South African Board for Sheriffs.
Mrs. Mabuza is the 2005 recipient of a regional Business Achievers Award from the Business Women’s Association (BWA) and is regarded as a a formidable business force in South African black owned business networks.
More recently, Mrs. Mabuza has consolidated her business acumen through the establishment of the Zamani Private Equity Fund, which boasts a strong asset base. In the past, Mrs. Mabuza has brokered various major transactions including Bontebok Lime, an acquisition wherein Zamani acquired a 26% shareholding, and the One Humanity One Justice Project, a BBC movie production that gave Zamani a 25% equity stake.
Ms. Yvonne Schnyder has earned her business acumen largely in the gaming industry where she gained international recognition as Secretary General for Intertoto and the World Lottery Association (WLA) from 1999 to 2006. As Secretary General of WLA, Yvonne established and led the Business Headquarters in Basel, Switzerland, working alongside the President and the Executive Committee in the development of the organisation. .
During her tenure, the WLA was instrumental in spearheading initiatives that are of huge significance for this industry, such as the Security Certification Program, the Responsible Gaming Initiative, the Education Program, the RFP Standards, and other initiatives that included the WLA Contributor Program, which at its peak had an annual net income of more than $1 million.
In addition, Schynyder oversaw the staging of WLA global initiatives; working with the national lottery hosts in each respective country to successfully stage major events in Scotland (2000), United States (2001), Australia (2002), Spain (2003), South Africa (2004), Mexico (2006) and Singapore later the same year.
Schnyder has also served as a Member of the UEFA Intertoto-Cup Commission and is a proud recipient of an acknowledgement from UEFA for outstanding service and dedication to European Football.
Ms. Thuli Mashanda is a founder of Njapa Consulting Services, an accounting and auditing consulting firm. As a Chartered Accountant, she brings invaluable business finance competence to the ITHUBA Holdings group.
Her experience with large multi-nationals such as MTN and Multi Choice Africa—where she was responsible for establishing and leading the Internal Audit Department for MTN Nigeria and overseeing the DStv finances in over 12 African countries respectively—is coveted by many corporate firms. At MTN, her responsibilities included Forensic and Fraud investigations, IT Audits, Process Audits and Special Projects.
Mashanda has also worked for Transnet Housing as an Executive Corporate Financial Manager, where she headed the Finance Department, handling in excess of R3, 2 billion bond books and over R300 million loan books.
Her role as a Partner at Nkonki provided her with a solid understanding of the South African demographic landscape, having worked for both public sector and corporate clients. Thuli serves on various boards and audit committees.