Former FNB CEO Michael Jordaan and Pieter Uys, current Remgro investment executive and previously Vodacom CEO, have become non-executive directors of Invenfin, the venture capital division of investment holding company Remgro.
“Both Michael and Pieter are highly successful businessmen who have made major contributions to our economy,” says Stuart Gast, executive director at Invenfin. “Each is a visionary when it comes to business strategy, innovation, and building world-class companies.
“We are very excited to have them on board and be in a position to tap into their extensive business knowledge and networks. Invenfin’s investments will benefit directly through Pieter and Michael providing strategic direction in building and scaling young businesses.”
Jordaan is credited with leading a variety of major innovations during his tenure at FNB. This included engaging with customers on social media and driving the adoption of mobile banking through the distribution of innovative tech products such as tablets, Gast adds.
“A vibrant entrepreneurial sector is essential for the South African economy and a VC fund like Invenfin is an important player in this ecosystem,” says Jordaan. “Through our investment in businesses and providing strategic support, hopefully Invenfin can add to the list of home-grown, internationally-recognised success stories.”
After joining Vodacom in 1993, Uys led the development of one of the leading mobile networks in the country. He fostered the operator’s growth into a powerful and trusted brand used as a central part of the connected experience of South Africans from all walks of life.
“South Africa has many smart entrepreneurs, and has produced some of the world’s greatest innovations. It is a privilege to be part of the Invenfin team, and support companies that will be the next South African success stories,” says Uys.
Emil Bührmann, chairman of the Invenfin Board, adds: “Invenfin is significantly expanding its knowledge base, business network and investment perspectives with the involvement of Pieter and Michael. Besides their extensive skills, they have each been very successful in developing extensive global networks and strategic partnerships for their companies. As a venture capital fund, the value of this experience for Invenfin is significant.”
