Former Cell C CFO Zafar Mahomed has been appointed chief financial officer designate and executive director of Africa’s largest fishing company, the Oceana Group.
Mahomed left Cell C in August as the mobile operator neared the conclusion of its much-needed recapitalisation.
He assisted Cell C in successfully navigating a complex transaction to deleverage the balance sheet as part of the telco’s turnaround strategy.
Cell C announced last week the painstakingly-long cash-raising exercise, which was led by the telco’s largest shareholder, Blue Label Telecoms, had been concluded after binding agreements with key financial backers were signed.
The telco appointed Lerato Pule as its new chief financial officer at the end of August.
Announcing Mahomed’s new career path today, Oceana credited his time at Cell C, saying: “The board is pleased to announce the appointment of Mr Zafar (Zaf) Mahomed as CFO designate, effective from 1 November.
“Mr Mahomed was most recently CFO of Cell C and prior to that position, CFO at McDonald’s South Africa.
“He has a wealth of multinational finance experience, with particular expertise in mergers and acquisitions, strategy development, property management, investor relations, change management and business turnaround skills. He is also a skilled negotiator.”
In a statement, Oceana says Mahomed has vast experience and a proven track-record in the telecommunications, food franchise and furniture retail industries.
“He has more than 25 years of finance and business experience across major industries, multinational and listed companies, as well as worldwide brands in multiple industries, ranging from manufacturing to retail, financial services, real estate and property, food, medical devices, hospitality, mining equipment and FMCG.”
Mahomed is a chartered accountant (SA) and holds an MBL from UNISA School of Business Leadership, BCom (Hons) from UNISA and BCom from University of Natal.
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