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Delta Property appoints Siyabonga Mbanjwa as CEO

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Former CEO Nomvete and former CFO Shaneel Maharaj resigned in August 2020, before a probe found evidence of irregular payments and procurement at the firm

Delta Property Fund, which was plagued by allegations of fraud under former CEO and founder Sandile Nomvete more than a year ago, has appointed Siyabonga Mbanjwa as its permanent CEO.

He previously worked for Old Mutual Property, property company Crowie Holdings and engineering group SENER. Its current liabilities of R4.4bn exceeded its current assets by R4bn in the six months to August, which renders it technically insolvent.

 

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