Johannesburg, 31 January 2019 - The Board of the South African Institute of Chartered Accountants (SAICA) proudly announces the appointment of Mr. Freeman Nomvalo as the Institute’s new CEO. Dr. Terence Nombembe, the previous CEO’s term comes to an end on 31 January 2019. Dr Nombembe has, from March 2018, been serving the country on secondment to the Zondo Commission of Inquiry into State Capture.
Aside from being a Harvard alumnus, Mr. Nomvalo was also South Africa’s Accountant-General from 2004 to 2013 where one of his highlights was working with the British Commonwealth to assist in promoting internal audit and risk management in 18 Caribbean Countries from 2009 to 2011.
In June 2013, he took up the role of CEO at the State Information Technology Agency until March 2015. Since then he has worked as a business consultant and established an Adaptive Leadership Practice to help organisations drive sustainable value-adding change.
SAICA wishes to thank Dr. Nombembe for the contribution he made to the Institute and the profession in his five years as SAICA’s CEO. SAICA also owes a lot of gratitude to Ms. Fanisa Lamola who took up the mantle as the acting CEO during Dr. Nombembe’s absence.
“The SAICA Board has chosen a steadfast operator that has been given the mandate to restore trust in the chartered accountancy profession,” says Mr. Lwazi Bam, SAICA Chairman. “The Board believes that SAICA will benefit from Mr. Nomvalo’s experience with the broader accounting profession, specifically his previous role in the development of the accounting profession legislation and policy. The Board looks forward to his contribution as we not only deal with the current challenges but also with preparing the chartered accountancy profession to respond to the ever-changing environment.”
Following in the footsteps of Dr. Nombembe and Ms. Lamola, Mr. Nomvalo says: “I relish the challenge of addressing the strong mandate given to me by the SAICA Board and look forward to working with all of the Institute’s stakeholders to provide leadership which will ensure that trust in the chartered accountancy profession is restored.”
Mr. Nomvalo’s commencement date is Friday, 1 February 2019.
The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The Institute provides a wide range of support services to more than 46 000 members and associates who are chartered accountants [CAs(SA)], as well as associate general accountants (AGAs(SA)) and accounting technicians (ATs(SA)), who hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in every sphere of commerce and industry, and who play a significant role in the nation’s highly dynamic business sector and economic development.
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SAICA Board Chairman