Phuti Mahanyele quits after a decade at Shanduka - CNBC Africa

Phuti Mahanyele quits after a decade at Shanduka

Southern Africa

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Phuti Mahanyele resigns from Shanduka. PHOTO: citypress

Mahanyele’s resignation will be effective from June. However, the board has requested that she stay on to consult until the end of the year.

“I will remember my time at Shanduka with great fondness.  It was a privilege to work with such a forward looking organisation and team. The work achieved in transformation and empowerment makes me the most proud. I know that the business is in good hands and will continue to prosper,” she said.

Her resignation comes on the back of a merger between Shanduka and Pembani, led by MTN chairman Phuthuma Nhleko. The merger followed the resignation of Shanduka founder, deputy president Cyril Ramaphosa, who left the company to pursue political interests.

(READ MORE: S.Africa's Ramaphosa to exit stake in Shanduka)

Mahanyele will be pursuing her own business interests in the investment sector.

During her time at Shanduka, Mahanyele was responsible for securing important transactions such as the Chinese Investment Corporation (CIC) - which was the corporation's first direct investment in South Africa - which now owns 25 per cent equity in the Shanduka Group.

Another noteworthy transaction included a partnership with Aggreko that increased Shanduka’s skills in the temporary power sector. This translated into the company becoming one of Eskom’s private power suppliers.

(WATCH VIDEO: Shanduka and Pembani to join forces)

“We wish Ms Mahanyele all the best in her future endeavours. In her tenure at Shanduka, she has been instrumental in driving the business to its current heights and we have no doubt that she will be equally successful in the future,” said James Motlatsi, Chairman of Shanduka Group.

Over the years Mahanyele has received many honours including being named a Global Young Leader by the World Economic Forum in 2007. Last year she was named Forbes Africa 2014 Business Woman of the Year.