FNB CEO joins Mxit board to drive innovation

2013-09-30 09:10
Michael Jordaan of FNB has elected to chair the board of Mxit. (Mxit)

Michael Jordaan of FNB has elected to chair the board of Mxit. (Mxit)

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Cape Town - Mxit has announced that outgoing First National Bank CEO Michael Jordaan has joined its board.

Jordaan has marked his tenure at FNB with technology innovation and will join the Mxit board as chair.

"I have been watching Mxit with interest for several years now. It is difficult not to have a sense of pride about a homegrown South African company making such an impact in the social media and mobile space. It was an easy decision to join as chairman and I am looking forward to playing a part in the future of Mxit, both in South Africa and internationally," said Jordaan.

The move is not entirely surprising as Jordaan will be moving to Stellenbosch following his departure from FNB. He had hinted that he intended to get involved in the start-up culture.

"I don't even like that word 'retire'; when I hear it, I don't see myself like that. I'm 45; I've got a lot left in me; I've got a huge amount of energy and I'd like to play a role in South Africa.

"I'd like to get involved in new businesses - start-up businesses and new technologies - disruptive technologies. I'd like to start businesses that also create jobs - I think that's the thing that South Africa needs most of all," he told News24 about his exodus from the bank.


New Mxit CEO Francois Swart expressed his enthusiasm at Jordaan joining the board.

"Michael's appointment is a great coup for us. I am sure he has been inundated with offers, and to become part of the Mxit team is a vindication of the direction we have taken and the innovation that is happening within Mxit."

Jordaan built on the innovative ideas of FNB employees that saw the bank release the first application and move into the device sales market.

He hinted that he will support technological initiatives at Mxit, which has around seven million active users.

"I have spent some time with their development and design team and they have shown me some of the projects they are working on, especially in the smart phone space. I look forward to the announcements that are planned over the next few months."

- Follow Duncan on Twitter
Read more on:    fnb  |  mxit  |  social networks  |  mobile

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