The South African National Roads Agency SOC Limited (SANRAL) announced the resignation of Ms. Noluphumzo Leonora Noxaka from its Board. The resignation is effective from July 2, 2024. Ms. Noxaka cited personal reasons for her departure. She served as the chairperson of the Audit and Risk Committee (ARC) and a member of the Social, Ethics and Transformation Committee (SETC).
The Board expressed its gratitude for Ms. Noxaka’s contributions to SANRAL. They wished her well in her future endeavors. Ms. Noxaka’s resignation leaves a notable gap in SANRAL’s governance structure.
Board’s Next Steps
SANRAL’s Board has started the process of reconstituting its sub-committees. They will announce the new structure soon. The Board is also engaging with the National Department of Transport and National Treasury. The aim is to find suitable replacements for the vacancies. One vacancy existed prior to Ms. Noxaka’s resignation.
Committee Roles and Responsibilities
The Audit and Risk Committee (ARC) plays a critical role in SANRAL’s governance. It oversees financial reporting, risk management, and compliance. The Social, Ethics and Transformation Committee (SETC) focuses on ethical conduct and transformation initiatives. These committees are vital for SANRAL’s operations and strategic direction.
Impact on SANRAL
Ms. Noxaka’s resignation comes at a crucial time for SANRAL. The agency is managing several significant infrastructure projects. Leadership changes can impact project timelines and stakeholder confidence. Ensuring a smooth transition and effective leadership is essential.
Future Appointments
SANRAL’s Board is working diligently to fill the vacancies. They are collaborating with the National Department of Transport and National Treasury. This process aims to ensure the appointment of qualified and experienced individuals. The Board will inform bondholders once the appointments are finalized.
Conclusion
The resignation of Ms. Noxaka marks a significant change for SANRAL. The Board’s proactive steps to reconstitute the sub-committees and fill the vacancies are crucial. These actions will help ensure SANRAL continues to fulfill its mandate effectively. Bondholders and stakeholders will be kept informed as new appointments are made and the transition progresses.
