Telkom appoints CEO of its Gyro property unit

Telkom today announced the appointment of Lesiba Maloba as the new CEO of its property management business unit, Gyro Group.

Gyro was established on 1 April 2017 to “unlock value” by commercialising the Telkom Group property portfolio, extract value from excess building capacity and diversify income streams through property development, masts and towers and property management services.

Maloba’s appointment is effective from 13 November.

He holds a masters degree in urban planning from the University of Cincinnati and his career in property spans research, property development and management as well as property investment and transactions for the Public Investment Corporation, Old Mutual Properties and Ernst & Young Africa.

Prior to joining Gyro, he was part of the project management office for the partnership between Development Bank of South Africa and the National Department of Public Works, where he handled property transactions and strategic projects, established joint infrastructure funding programmes and developed a broad-based black economic empowerment policy.

“Lesiba is a consummate professional who will be an able captain for our new Gyro Group. His task is very simple and clear, leading a ruthless execution of the commercialisation of our real estate portfolio. I have every confidence in his capability and expertise, and wish him well during his tenure,” said Telkom Group CEO Sipho Maseko.

“Telkom’s turnaround has been remarkable over the past few years, and now we have an opportunity to leverage our property holdings through Gyro. I am excited to be joining Telkom and humbled by the trust placed in me,” said Maloba.

Read: Government to form task team over sale of Telkom shares

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