KZN Growth Fund gets new CEO

Thursday, February 21, 2019

KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs (EDTEA), Sihle Zikalala, has welcomed the appointment of Aubrey Shabane as the new Chief Executive Officer of the KwaZulu-Natal Growth Fund (KZNGF).

“Shabane has been a valuable asset since he joined the KZNGF as a chief investment officer in 2015 and we are confident that he will continue to excel in his new responsibility,” Zikalala said.

The KZNGF is a development financier of the KZN Provincial Government within the Department of Economic Development, Tourism and Environmental Affairs.

Zikalala described Shabane as a dynamic leader and seasoned senior executive, adding that 80 percent of the total projects funded by the KZNGF happened during the four years when he was leading the investment team.

“Shabane’s appointment comes as a major boost for the EDTEA family, as we pay more attention on supporting manufacturing initiatives which have a huge potential to take the economy of the province to greater heights and create jobs. We commend the KZNGF for the role it has played in the implementation of our Black Industrialists Programme, which is aimed at altering economic patterns in our province,” Zikalala said.

Prior to joining the KZNGF, Shabane was the Head of Equity Investments at the Development Bank of Southern Africa, responsible for over R7 billion of assets under management. He also spent years as a Corporate Finance Manager at Deloitte.

He holds a Master of Business Administration Degree from Leeds University Business School, a Bachelor of Commerce Degree from UNISA and a Bachelor of Technology in Financial Management from Durban University of Technology. –