It was reported on Friday that non-executive director and audit committee chairman, Babalwa Ngoyama has resigned from the board of construction giant Group Five. The company announced this development on the 5th of May when she resigned from the board with immediate effect.
Ngonyama is the only woman who owned and managed securities business in the country. She has actively participated in numerous national forums on economic growth and development.
Babalwa is the founding chairman of the African Women Chartered Accountants.
Ngonyama has also sat on the boards of various listed companies which include the likes of Aspen Holdings and Barloworld. She is a chartered accountant with extensive experience in the auditing finance and mining industries.
The non-executive director and audit committee chairman’s resignation follows that of non-executive director and remuneration committee Chairperson Mark Thomas effective from April, 6.2017.
The board of Group Five, however thanked Ngonyama for her contribution to the group over the past three years. “We wish her well in her future endeavours,” said the board. They went on to add that the process of recruiting other non-executive directors has started. The recruitment is initiated in order to balance the board and improve or rather better its diversity.