Dr Setumo Mohapi, former CEO of the State Information Technology Agency (SITA), has been appointed as CEO of fintech group Tafari Capital, effective 1 February.
Mohapi left SITA in 2019, despite the state-owned entity’s offer to extend his contract for another six months.
In the same year, the then Dimension Data appointed him as Internet Solutions managing executive. He also took other executive roles within Dimension Data Middle East and Africa.
After his stint at Dimension Data, Mohapi says he took some time off “to find meaning and invested in a few early-stage ventures”.
“It’s truly an honour for me to announce that Tafari Capital has appointed Dr Setumo Mohapi as group CEO of Tafari Capital,” Dr Thabo Lehlokoe, chairman of Tafari Capital, announced on LinkedIn.
“His deep technology and business acumen at the highest level will help to drive Tafari to new heights, as it begins its journey into commercialisation of its products and services.
“We have also appointed Dr Simphiwe Madikizela, an experienced banker and key individual, as CEO of Tafari Financial Services, an authorised financial services provider, which will run our insurance and other regulated businesses.”
In an e-mail interview with ITWeb, Mohapi explains that Tafari Capital is a multi-dimensional, business-to-business financial services and digital platform economy.
Tafari Capital was founded in 2016 in Johannesburg by 23 black professionals and entrepreneurs from various sectors.
United by the goal of empowering African people to create their own wealth, Mohapi says the founders aimed to provide access to financial inclusion, and provide market access and economic opportunities to underserved communities.
The company consists of three subsidiaries: Tafari Tech, which develops, owns and operates its technologies; Tafari Financial Services, an authorised financial services provider; and Tafari Capital Investment, a BBBEE investment vehicle.
Describing his immediate goals in the new role, Mohapi says: “The current area of focus is the development of AI-driven digital economy platforms to activate the vast economic and social potential of common bond financial services groups in South Africa.
“While each platform will be curated specifically for vertical use cases, the overall platform is designed with core functions, including smart digital leverage of the embedded common bond structures in the communities that can be used to deliver long-lasting financial and economic freedoms and social stability.”
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