Peter Mageza joins iPAC

May 2010 News

iPAC has appointed Peter Mageza as a director on the company’s board. Through Ntamele Investment Company he holds 26% shares in iPAC.

A chartered accountant by training and a Fellow of the Association of Certified Chartered Accountants, Peter started his career within the audit environment in 1988 with Coopers & Lybrand Chartered Accountants (SA). After working as audit manager within Transnet Group Internal Audit Services, in 1993, he moved into general management at Autonet, the road passenger and freight logistics division of Transnet.

In 1998, he moved to the financial services sector and joined Nedcor Bank’s Technology and Operations Process Management division. Peter joined Absa Bank in 2000. He took over a number of executive functions within Bankfin (now rebranded Absa Vehicle and Asset Finance) and became managing executive in 2001. In 2003, he was appointed executive director responsible for wealth management.

Mageza was appointed as an executive director on the boards of Absa Group (Absa) and Absa Bank and as Absa Group chief operations officer in September 2007. He left Absa in June 2009; he currently heads up Ntamele Investment Company and is a full time executive of Songhai Capital. He also serves on the boards of Bidvest, Rainbow Chickens, Barclays Bank Mozambique and NBC Bank in Tanzania.

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