Group Overview

Waco International Board

Non-executive directors

Royden T Vice

Royden T Vice - Non-Executive Chairperson

Royden is the Chairperson of the Board, a position he has held since 2012. Royden is currently a non-executive director of Life Healthcare. Previously, Royden was the Chief Executive Officer of Waco from February 2002 to 2011.

Prior to working at Waco, he was the Chief Executive Officer of the Industrial and Special Products division of The BOC Group from 1998 to 2001. Royden was previously Chairperson of African Oxygen Limited, Afrox Healthcare Limited, Hudaco and Consol Limited and a non-executive director of Murray & Roberts Limited, all JSE-listed companies.

In addition, he is a director of a few private companies. Royden has extensive global leadership experience, having lived and worked on three continents: North America, Europe and Africa.

Ewan Gray - Non-Executive Director

Ewan, a CA(SA), graduated from the University of Stellenbosch in 2006 with an Honours in Accountancy. In 2010 he completed his training articles at KPMG in Cape Town.

Post articles Ewan joined Standard Bank in Johannesburg on their Flagship programme, a strategic leadership programme for newly qualified CA’s.

In 2011 he joined Rand Merchant Bank in their Global Markets division focusing on emerging markets credit risk, specifically African commercial and developmental financial institutions. He joined RMB Ventures in 2013

Ewan Gray

Velli Baloyi

Velli Baloyi - Non-Executive Director

Velli joined Ethos in 2019 and is currently a Senior Associate. Velli was previously an Associate at Rothschild & Co where he was involved in a number of financial advisory transactions including blue-chip B-BBEE transactions, cross-border M&A, Restructuring and Debt.

Velli holds an Honours in Accounting and a Bachelor of Commerce (Accounting) from the University of Johannesburg. Velli is a member of the South African Institute of Chartered Accountants and a CAIA Level II Candidate.

Jonathan Matthews - Non-Executive Director

Jonathan joined Ethos in September 2014 as a transacting partner. With over 12 years of private equity and corporate finance experience gained at Actis, Standard Bank and Dresdner Kleinwort Wasserstein, he has an extensive African private equity network, with a strong deal orientation.

Jonathan played deal-lead roles in Actis’ AutoXpress investment in Kenya, the acquisition of Compuscan and in the buy-out of Savcio for Actom. He also played significant deal roles in the acquisitions of both Actom and Tracker.

Jonathan enjoys a wide range of sporting and outdoor leisure activities including golf, tennis, fly-fishing, snow skiing and surfing. He is the proud father of three.

He holds a Bachelor of Business Science (Hons in Finance) degree from the University of Cape Town. He is a CFA Charter Holder and member of the South African Institute of Chartered Accountants.

Jonathan Matthews

Cassim Motala

Cassim Motala - Non-Executive Director

Cassim joined RMB through the class-of programme in 2007 and joined the RMB Ventures team a year later. He was appointed the co-head of RMB Ventures, the private equity division of RMB in 2017.

He is a member of the RMB Corporate & Investment Banking Exco and Investment Committee and sits on the Boards of various RMB Ventures invetee companies.

He considers himself an investor, leader and agent for change. Cassim holds a Masters in Business Administration (UCT) and an Associate in Management (UCT).

Nthime Khoele - Non-Executive Director

Nthime is a co-founder and co-Managing Partner of Bopa Moruo Private Equity. As a Managing Partner, Nthime is responsible for the leadership, management and direction of the investment management activities and operations management activities at Bopa Moruo.

Prior to founding Bopa Moruo, he was a director in Brait’s private equity business where he spent a total of 8 years. He has also served as Group Treasurer and Head of Corporate Finance at South African Airways, Executive Director at Legend Capital and investment professional at Rand Merchant Bank.

Nthime holds a Business Science Honours (UCT) and an MBA (UCT). He also holds a Diploma in Company Law.

Nthime Khoele

Executive directors

Stephen JM Goodburn

Stephen JM Goodburn - Chief Executive Officer

Stephen is the Chief Executive Officer of the Company and was appointed to this position in July 2011.

Previously, Stephen was appointed as the Group Senior Management Accountant of Waco in 1996 and was promoted to the position of Group Financial Director in 1997.

Prior to joining Waco, Stephen was employed by the Gentyre Group, then a subsidiary of Waco, from 1990 to 1996, where he held a number of senior positions.

Stephen had a significant role in the management of Waco during and after the leveraged buyouts in 2000 and 2012, and gained significant international experience through the management of these processes.

Dharishan Padiachy - Chief Financial Officer

Dharishan was appointed the Chief Financial Officer for the Group in 2021. Since joining the Group in 2011 he has held a number of senior financial management positions including Corporate Financial Manager, Financial Manager and Group Accountant.

His expertise extends through financial accounting, taxation and corporate finance, with an aptitude for information technology, strategic development and execution.

Prior to joining Waco International Dharishan was with KPMG.

Dharishan Padiachy

Mark R Towler

Mark R Towler - Group Treasurer and Company Secretary

Mark joined Waco as Group Treasurer in October 1993 which he continues to manage in addition to his duties as Company Secretary. He previously headed Treasury Divisions of Dorbyl Ltd and Samancor Ltd. Mark has a Bachelor of Commerce.