The Eastern Cape Development Corporation has appointed Mxolisi Matshamba as its new chief executive officer, effective from November 6. He was previously responsible for sector development, investment and export promotion at Trade and Investment South Africa (TISA), a division of the Department of Trade and Industry. Matshamba holds a B.Comm from the National University of Lesotho, a certificate in Petroleum Economics & Policy from Wits University’s Graduate School of Public Development and Management, and is in his final year of an MBA from the Milpark Business School in Johannesburg. The development body has faced a string of problems over the past few years ranging from suspension of its top management over fraud allegations that were subsequently withdrawn, to financial losses and most recently a double resignation by previous CEO Kevin Wakeford.
