Minister of Finance appoints Kubheka as chairperson of Ombud Council

As of next month (1 February 2023), Silindile Kubheka will take on her new role as the chairperson of the Ombud Council. She will be replacing Deanne Wood, who served as chairperson from the inception of the Ombud Council until December 2022.

Kubheka will be joined by Lebohang Senne who will take on her role as a member of the Board of Directors of the Ombud Council.

The appointment was made by the Minister of Finance, Enoch Godongwana, in terms of Section 180 of the Financial Sector Regulation Act No. 9 of 2017. The new appointees will serve for a period of three years, effective from 1 February 2023.

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Former member of Board of Directors

Kubheka has served as a member of the Board of Directors of the Ombud Council since November 2020. According to the Department of Treasury, she is currently Head of Group Finance: Governance and Risk Compliance at Transnet SOC LTD.

Kubheka is a finance professional with over 19 years of experience in both the government and private sector.

Senne is an experienced Chartered Accountant; currently serving as a deputy chairperson of the Financial Reporting Standards Council (FRSC) Board.

The minister thanked Deanne Wood for her diligence and outstanding service during the establishment phase of the council. Wood was a Fasken partner and specialist in insurance law and financial services, and pension law and regulatory law when she was appointed.

Minister thanks acting chair

The minister also thanked Advocate Dikeledi Chabedi, the deputy chairperson of the council, who stepped in as acting chairperson to ensure continuity in the council pending the appointment of the new chairperson.

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The Ombud Council seeks to assist in ensuring that financial customers have access to, and are able to use affordable, effective, independent and fair alternative dispute resolution processes for complaints about financial institutions in relation to financial products, financial services and services provided by financial infrastructures.

The Ombud Council was established through the Financial Sector (FSR)Regulation Act (2017), Chapter 14.

However, the Ombud Council does not handle customer complaints itself, but oversees all financial sector ombud schemes, in essence operating as the regulatory authority for ombuds.

*Compiled by Devina Haripersad