Cassava Technologies Announces Major Leadership Changes to Strengthen South African Operations

Cassava Technologies, previously known as Liquid Telecom, has announced a sweeping leadership overhaul in South Africa aimed at driving the company’s next phase of growth. These changes come after the company successfully completed an equity round and reorganized its business late last year. Among the most notable changes, Ziaad Suleman, the former Chief Commercial Officer at EOH (now iOCO), has been appointed the CEO of Cassava’s South African operations.

This move comes alongside the appointment of Deon Geyser, former CEO of Liquid Telecom South Africa, who will now serve as the CEO of Liquid Networks for Cassava. Geyser will oversee the company’s broadband portfolio across Africa, including key services like fibre, satellite, and wireless connectivity.

The executive shifts are part of Cassava’s broader strategy to strengthen its position in the market following a tumultuous period marked by financial challenges. In December, the company raised $90 million (R1.7 billion) through a strategic equity round, with participation from key investors such as the U.S. International Development Finance Corporation (DFC), Google, and Finnish Fund for Industrial Cooperation (Finnfund). This new funding, along with a significant R4 billion debt refinancing deal with major banks like Standard Bank and Nedbank, was essential for the company to avoid a liquidity crunch and maintain its financial stability.

Despite this positive momentum, credit rating agencies like Fitch and Moody’s have cautioned that Cassava’s financial position remains fragile. In particular, Fitch warned that while the company currently has sufficient cash, it remains vulnerable to risks like intense competition, technological challenges, and potential regulatory pressures that could affect its performance.

With these challenges in mind, the newly appointed leadership team faces the critical task of ensuring that Cassava capitalizes on its new funding and continues to deliver on its growth strategy. The company aims to avoid the pitfalls that led to its financial troubles and maintain a competitive edge in the highly competitive African broadband and data centre market.

In addition to Suleman and Geyser, several other key appointments have been made to Cassava’s executive team. These include Ahmed El Beheiry, who will take on the role of COO and Chief AI Officer, responsible for driving commercial strategy and operational efficiencies, and Finhai Munzara, appointed as Chief Corporate Development Officer, focusing on mergers and acquisitions and strategic partnerships.

“I am confident that these changes, along with the collective efforts of our new and existing team members, will set us up for sustainable, profitable growth in the future,” said Hardy Pemhiwa, President and Group CEO of Cassava Technologies.

As Cassava moves forward, its leadership is set to play a pivotal role in navigating the company through these challenging yet promising times, positioning it for long-term success in the fast-growing fibre and data centre industry.

Follow Joburg ETC on Facebook, Twitter , TikTok and Instagram

For more News in Johannesburg, visit joburgetc.com