Newly appointed Minister of Human Settlements (formerly known as Housing) Tokyo Sexwale has officially resigned as executive chairperson of Mvelaphanda Group, the group announced on Tuesday afternoon.
There had been concerns that it may have constituted a conflict of interest had he remained on in the role given his new ministerial post.
Mikki Xayiya, who is the current deputy executive chairperson of Mvela, has been appointed as executive chairperson with immediate effect, the group said.
Commenting on Sexwale’s resignation, Xayiya said: ”It is with reluctance but understanding that we release Tokyo from our board. We appreciate the need for him to return to public service, full in the knowledge that his legacy will live on in the dealings and continued value growth of Mvela Group.
He brings with him vast knowledge and experience which we know will benefit the country as a whole.” — I-Net Bridge