Moti Group CEO Zunaid Moti Steps Down to Make Way for Dondo Mogajane

Zunaid Moti, the outgoing CEO of the Moti Group, has announced that he will be stepping down from his position to make way for Dondo Mogajane, the former director general of National Treasury, who was appointed as the new CEO of the Moti Group in June 2022. Moti has been leading the group for nearly two decades but his departure is attributed to the reputational damage caused by his arrest in Germany in 2018.

Moti has stated that the arrest and subsequent controversy limited his ability to add value to the company. Although he maintains a clear criminal record, he acknowledges that the allegations have impacted his family, businesses, and personal life. He said in a statement, “My time steering the Moti Group has come to an end, and I have completely handed over the reins to Dondo Mogajane, a highly reputable and respected financial leader who will be guiding the business forward as I start a new chapter and spend more time on my passion projects.”

Mogajane has been studying the group’s operations since his appointment and has been offering his expertise in compliance, financial management, and macro-level thinking. According to Moti, Mogajane has already begun the process of transforming the group’s operations by introducing more formal corporate structures such as an independent board, strengthening its corporate governance controls, and restructuring the business.

Moti’s arrest and subsequent detention in Germany in August 2018 was a result of a notice issued by Russian authorities accusing him of defrauding a Russian businessman. Reports at the time also alleged that he stole a pink diamond worth approximately R500 million. However, Moti was released from detention in Germany in 2019 after the arrest warrant issued by Russia was allegedly cancelled. The group has noted that the charges against Moti and his father were fictitious and led to them being the subject of a Diffusion Notice to Interpol by the Russian authorities, which Moti was not aware of at the time of his arrest.

Moti has expressed his confidence in Mogajane’s leadership and stated that he has exciting plans for his chrome mining operations in Zimbabwe, African Chrome Fields, and his philanthropic ventures in Southern Africa. He plans to finalize the construction of a high-tech aluminothermic factory and to uplift young entrepreneurs to help them find innovative ways to solve traditional business problems. They will help him in his new projects and create sustainable businesses that can help economies grow, benefitting people across the continent.

In conclusion, the Moti Group’s outgoing CEO, Zunaid Moti, has stepped down from his role to make way for Dondo Mogajane, the former director general of National Treasury, who was appointed as the new CEO of the company in June 2022. Moti attributed his departure to the reputational damage caused by his arrest in Germany in 2018. Mogajane has already begun the process of transforming the group’s operations, introducing more formal corporate structures, strengthening corporate governance controls, and restructuring the business. Moti plans to focus on his chrome mining operations in Zimbabwe and his philanthropic ventures in Southern Africa, with the help of young entrepreneurs to create sustainable businesses that can help economies grow.