Reportedly due to capacity constraints.
Businessman Mteto Nyati has resigned from his position as an independent non-executive director of the Nedbank Group and Nedbank boards of directors. The bank confirmed Nyati’s exit to investors via a Sens statement on Friday, adding that Nyati is stepping down “as a result of increased capacity constraints”. Nyati’s resignation will take effect from Monday, 9 October.
Nyati has a long history in executive roles in some of the country’s biggest firms, having been the CEO of ICT firm Altron, a position he held from 2017 to 2022. Prior to that, he was the CEO of MTN’s South African subsidiary. Read: Mteto Nyati resigns as CEO of Altron In 2022 Nyati acquired a 40% stake in business and consulting firm Business Systems Group in which he was subsequently appointed executive chair, a position he still occupies.
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