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Board of Directors

Raymond Ndlovu

Raymond Ndlovu

Chairperson

Raymond has garnered extensive corporate and entrepreneurial experience in various fields in the financial services industry, including investment banking, asset management, and stockbroking, since 1998. He has held senior management positions with several organizations, namely Prodigy Asset Management, Metropolitan Life, and Standard Chartered Merchant Bank. He co-founded and was CEO of an institutional stockbroking firm, Noah, for ten years until July 2011.

In 2013, Raymond joined the venture investment division of the Remgro group, Invenfin, as an investment executive, before being reassigned to the parent company, Remgro Limited.

He holds a B Business Studies (Honours) from University of Zimbabwe.

Thinus Mulder

Thinus Mulder

Executive Director and Chief Executive Officer

Thinus obtained a BCom Accounting Honours degree and a Certificate in the Theory of Accounting from the University of Pretoria in 1989. After qualifying as a Chartered Accountant at PricewaterhouseCoopers in 1992, Thinus has held various top positions with SARS, Standard Bank, and the JSE-listed AST Group, where he was the Financial Director. In 2005, he joined the Imperial Group as Financial Director of the Lindsay Saker Group and became Managing Director two years later. He was also a member of the main board of the Imperial Motor Division and served on a number of Audit Committees in the Imperial Group, including the Regent Insurance Group. He joined DFA in 2008.
Jacques Gryzenhout

Jacques Gryzenhout

Executive Director and Chief Financial Officer

Jacques obtained his BCom Accountancy from North West University, South Africa. He completed his post graduate studies (CTA) at Unisa and qualified as a Chartered Accountant.

After completing his articles he joined the CIE Group (now called the CIV Group) in 1999. He took responsibility for overseeing the financials for the services and telecommunication companies within the group and to provide monthly reporting on their progress.

In 2008 he joined the Perago Group, a financial system developer for central banks, as their financial manager. A European bank had the majority of the shareholding, and Jacques managed the full financial function, reporting to the CFO in Italy.

In 2009 he was approached by CZ Electronics Manufacturing (Pty) Ltd, part of the CIV Group, to join them as financial director. After spending eighteen months with CZEM he was requested by the holding company (CIV) to perform some consulting work at MCT Telecommunications (Pty) Ltd.

With the changes in the market and the focus of the CIV Group to disinvest in manufacturing, Jacques was offered the position of CFO for MCT Telecommunications (Pty) Ltd, and joined DFA as CFO in 2020.

Neo Moshimane

Neo Moshimane

Non-Executive Director

Neo was admitted as an attorney in 2002 and her areas of expertise include, inter alia, mergers and acquisitions, equity and debt capital markets and competition law. Neo completed her articles at Webber Wentzel where she worked in the competition law department and went on to work at Absa Bank Limited within the derivatives legal team. Prior to joining DM5 Incorporated in April 2008, she worked at J.P. Morgan, Johannesburg as a legal advisor to the corporate finance team. She is a founding partner of DM5 Incorporated, a black female owned corporate law firm which aims to not only provide legal advisory services but further the interests of women in the legal corporate advisory sector. She has served on the board of directors of South African Express and as a trustee for the CIDA Empowerment Trust. She is an audit committee member of Lafarge South Africa and a trustee for G20 Young Entrepreneurs South Africa.

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