Former FNB and Vodacom CEOs, Michael Jordaan and Pieter Uys, have joined the Invenfin board as non-executive directors.
Invenfin is the venture capital division of listed investment holding company, Remgro.
“Both Michael and Pieter are highly successful businessmen who have made major contributions to our economy. Each is a visionary when it comes to business strategy, innovation, and building world-class companies,” said Stuart Gast, executive director at Invenfin.
Jordaan is credited with leading a variety of major innovations during his tenure at FNB including engaging with customers on social media and driving the adoption of mobile banking through the distribution of innovative tech products such as tablets.
“A vibrant entrepreneurial sector is essential for the South African economy and a VC fund like Invenfin is an important player in this ecosystem”, said Jordaan, adding that “through our investment in businesses and providing strategic support, hopefully Invenfin can add to the list of homegrown, internationally-recognised success stories”.
“South Africa has many smart entrepreneurs, and has produced some of the world’s greatest innovations. It is a privilege to be part of the Invenfin team, and support companies that will be the next South African success stories” said Uys.
Jordaan was recently appointed chairman of Wines of South Africa (WOSA), and was last year appointed as the chairman on South African mobile social platform, Mxit‘s board.
Jordaan also set up a private investment vehicle, MonteGray Capital, in Stellenbosch, investing in disruptive technologies.