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New appointments at Medscheme

06 June 2005 Rianet Whitehead

Bongani Mncwango was recently appointed as director of Group Human Resources.

Mncwango studied in South Africa and in the United the United States where he completed an Executive Development Programme (New Jersey), Doctor of Business Administration (California), Master of Business Administration (Wits), Post-Graduate Diploma in Human Resources (Wits) and a Bachelor of Business Administration (Michigan).

He has gained proven international experience in business administration, marketing and project management having served with multibillion dollar listed blue chip companies including USA-based Ingersoll-Rand and the Swedish Karolin Machine Tool Companies.

He has also served as Director of Human Resources at IR’s South African headquarters and is a past Secretary General for NICWU (National Industrial & Commercial Workers’ Union).

In 2004 he was appointed Head - Marketing and National Sales at Medscheme and then as Managing Director of Medscheme’s Bonitas Division where he has played a pivotal role in developing the business.

Mncwango’s appointment follows in the wake of Medscheme’s transaction earlier this month with a BEE consortium led by Africa Vanguard Capital (Proprietary) Limited and a representative body of its key black employees.

Quick Polls

QUESTION

The second draft amendments to Regulation 28 will allow retirement funds to allocate up to 45% of their assets to SA infrastructure, with a further 10% for rest of Africa; but the equity & offshore caps remain unchanged. What are your thoughts on the proposal?

ANSWER

Infrastructure? You mean cash returns with higher risk!?!
Infrastructure cap is way too high
Offshore limit still needs to be raised
Who cares… Reg 28 does not apply to discretionary savings
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