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Cresta Marakanelo announces new board members

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NEW CATCH: Moremong (L) and Lekaukau

Cresta Marakanelo Limited has announced the appointment of new board members Moatlhodi Lekaukau and Tshepidi Moremong.

Lekaukau comes in as Board Chairperson, replacing retired Board Chairperson Maria Nthebolan while Moremong joins the board as an ordinary member.

Nthebolan and another retiree- Board Director, Elias Dewah, served on the Board from February 2008 and January 2010 respectively, and oversaw the growth of the company from when it was operating 6 hotels to 12 hotels currently.

The two directors are said to have been instrumental in the listing of the company on the Botswana Stock Exchange on the 28th June 2010.

Speaking on her departure, Nthebolan remarked, “I am grateful and honored to have been a part of Cresta Marakanelo’s growth over the past 10 years. I am proud of the Group’s achievements and am happy that I was a part of this growth story.”

Lekaukau who comes in as board chair is the former Chief Executive Officer of Standard Chartered Bank Botswana and has a stellar professional career spanning the last two decades. He is also the Executive Chairman of YMH Media Group, a diversified media holding company with interests in Botswana and Zambia.

He was the first Motswana Managing Director of Standard Chartered Bank Botswana Limited, a Botswana Stock Exchange listed bank with assets in excess of P10 billion.

Lekaukau’s role entailed providing leadership oversight for the bank including developing and executing on its strategy.

Prior to his role at Standard Chartered, Lekaukau spent 12 years at Deloitte and Touche South Africa where he left as partner and Head of Mergers and Acquisitions for Southern Africa.

In this role he led many large transactions in Southern Africa including the privatization of BTC and restructuring of Bokamoso Private Hospital.

Lekaukau is the Chairman of Metropolitan Life Botswana Limited and a Director of African Banking Corporation Zambia Limited.

He also serves as a director on a number of private company boards.

Lekaukau is a member of the South African Institute of Chartered Accountants, a fellow member of the Botswana Institute of Chartered Accountants and holds a Bachelor of Commerce Degree and Postgraduate Diploma in Accounting from the University of Cape Town.

Moremong on the other hand brings to the Cresta Marakanelo Board of Directors, a wealth of experience from a diverse array of companies.

She holds a BA Degree in Economics and Political Science from Swathmore College and an MBA in Finance and International Business from Columbia University Business School.

Moremong started her career with Trammel Crew Company in the United States as an Analyst. She then spent a significant period of her career in private equity as an Investment Principal with Aureos Capital and then later with 8 Miles Private Equity.

She is currently Head of Coverage Africa at Rand Merchant Bank.

Moremong has previously worked at Goldman Sachs, London in the investment banking division, focusing on mergers and acquisitions for Europe.

Commenting on his appointment, Lekaukau said, “I look forward to being an integral part of Cresta Marakanelo’s continued growth as a major player in the tourism and hospitality sector of the country”.