8 August 2012

South Africa: Mo Shaik to Head DBSA Subsidiary

Johannesburg — Former secret service head Mo Shaik has been appointed as chief executive of the Development Bank International, which will soon be launched as a subsidiary of the Development Bank of Southern Africa (DBSA), the bank has announced.

Shaik had the appropriate skills and background for the position, which would involve working with development finance institutions of Brazil, Russia, India and China, DBSA chairman Jabu Moleketi said in a statement on Tuesday.

"Shaik's experience in the field of international relations and diplomatic intelligence will be an added boost for this new subsidiary...," he said.

"We have no doubt that his prudent expertise will facilitate South Africa's investments in the rest of Africa."

Shaik holds degrees in computer science and a masters degree in optometry. He has also completed an advanced management programme at the Harvard Business School in the United States.

He has served as chief executive of CorpAfrica, South African consul general in Germany, and as South African ambassador to the Democratic Republic of Algeria.

He was also a special adviser to former Foreign Affairs Minister Nkosazana Dlamini-Zuma, head of policy research for the same department and head of secret services at the state security ministry.

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