New Chairman at ProfitShare Partners as the funder bids farewell to its Board Chairperson

ProfitShare Partners has announced that Ms Trudi Makhaya has  stepped down as Chairperson of the Board after being its inaugural Chairperson. This is due to her appointment as President Cyril Ramaphosa’s economic advisor earlier this year and her role in raising USD 100 billion for the South African economy. 

Ms Makhaya has brought value to the company during her tenure, which has provided the funder with invaluable insights to service the SME sector. ProfitShare Partners has expressed gratitude for her service.

“It has been a great privilege having Ms Makhaya as our Board Chairperson this past year. While it is unfortunate that we must bid her farewell, we extend our sincere thanks for her contribution to date and commend her for the immense task that she will fulfil for the greater good of South Africa,” says Andrew Maren, CEO and Founder of ProfitShare Partners.

ProfitShare Partners has appointed Fuad Cassim, former special adviser to then-Finance Minister, Pravin Gordhan, as its new Chairperson of the Board, effective immediately. Mr Cassim played a significant role during his tenure as Mr Gorhdan’s adviser including his strategic and active leadership role in economic policy discussions and providing analytical insights on the economy. Mr Cassim has actively participated in various domestic and international economic policy workshops and seminars, including the World Bank and International Monetary Fund, the Organisation for Economic Cooperation and Development, and the UNU WIDER in Helsinki amongst others.

He was involved in various international and local policy initiatives including serving as adviser on the Fiscal Policy to the Gauteng Legislature, co-leading the USAID project on Equity and Growth in Africa (EAGER) at Harvard Institute of International Development, the Labour Market and Macroeconomic Policy at the National Treasury, and the Africa Institute for Policy Analysis – A Study on Economic Reform and Equity in South Africa. Prior to joining the Ministry of Finance, Mr Cassim worked for three years at the Public Investment Commission. He is currently an economist at the Banking Association of South Africa.

“It is certainly a privilege for me to lead the Board of a company that is changing the funding model at the express benefit of SMEs in our country. While I am newly appointed as Chairman, I am neither new to the role as Director nor to the leadership role. I am however, very excited to be entering this chapter with a company that I have full confidence in,” said Fuad Cassim.

“Mr Cassim has been an active non-executive director of the Board since 2017. We are pleased that he has agreed to formally accept the appointment as our new Chairman. We have full confidence that his in-depth understanding of our economy and wealth of local and international experience will add immense value to our local and global ambitions for the company,” added Maren.

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