Matthews Sello Moloko, a prominent South African figure, has made a mark as a businessman, banker, and corporate leader. He’s known for his influential role at Absa Group, a pan-African financial services company, and his previous positions at companies like Telkom.
Moloko is also the co-founder and executive director of Thesele Group, a diversified investment holding company with interests in financial services, logistics, automotive, ICT, energy, water infrastructure, and property development across Africa.
Starting as a portfolio manager and analyst, Moloko’s career has been marked by his keen eye for opportunities and commitment to growth, which propelled him to success. Over the years, he has served on the boards of major companies like Telkom, Alexander Forbes, Sibanye-Stillwater Limited, and General Reinsurance Africa.
In 2022, Moloko was appointed as the independent non-executive director and Chairman-designate of Absa Group, where he is now known for his strong leadership and strategic vision. He is deeply involved in key committees and upholds responsible corporate governance.
Beyond banking, Moloko serves as a trustee at the University of Cape Town Foundation, chairs the Nelson Mandela Foundation, Thesele Foundation, and M&G Investments boards, showcasing his commitment to various causes.
Moloko’s journey from modest beginnings in 1992 to his current corporate leadership position is a testament to the potential for positive change in African business.
Billionaires.Africa has identified and cataloged various companies linked to Moloko.
Here are five companies where he holds substantial or minority stakes:
- Thesele Group
Moloko, the co-founder and executive chairman of Thesele Group, stands at the helm of a pioneering 100 percent Black-owned investment company established in 2005, alongside Thabo Leeuw. With profound expertise in business, strategic insight, and financial acumen, Thesele Group has demonstrated remarkable growth since its inception. As a catalyst for identifying promising business opportunities for capital investments, Thesele Group is poised for its next phase of expansion and success.
- Absa Group
Absa Group is a pan-African financial services conglomerate with subsidiaries spanning Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania, Uganda, and Zambia. Moloko, a prominent South African businessman, banker, and corporate executive, presently holds the position of group chairman at Absa Group. In addition to his role as group chairman, he also serves as chairman and non-executive director of Absa Bank Limited.
- Thesele Foundation
The Thesele Foundation is a dynamic public benefit organization committed to fostering education, training, and entrepreneurship in South Africa. Founded by champions of broad-based black economic empowerment (B-BBEE), including Sello Moloko, the foundation leverages the growth within Thesele Group to create a sustainable platform for enduring social and economic transformation. It holds a 4.8-percent ownership stake in Thesele Group, supported by dividend distributions.
- Sibanye-Stillwater
Sibanye-Stillwater, the South African multinational precious metals mining group, holds a pivotal role in the global precious metals industry. With operations in South Africa and involvement in gold and base metal mining projects in South Africa and the Americas, Moloko serves as the non-executive chairman of Sibanye Gold, the gold mining division of Sibanye-Stillwater.
- Telkom
Moloko’s tenure as chairman of Telkom, South Africa’s third-largest telecom provider since March 2019, has been instrumental in the company’s remarkable growth. His leadership led to Telkom’s listing on the Johannesburg and New York stock exchanges in 2003, democratizing ownership and tripling its share price.
