NFVF назначила Шадрака Бокаба главой Исполнительного директора после роспуска совета
Read more
IOL
iol.co.za

NFVF назначила Шадрака Бокаба главой Исполнительного директора после роспуска совета

The National Film and Video Foundation (NFVF) has named Dr Shadrack Bokaba as its new Chief Executive Officer. Furthermore, the NFVF, which operates under the Department of Sports, Arts and Culture, announced that Bokaba will also function as the accounting authority, possessing the authority to approve funding.

This appointment follows shortly after the foundation's council was dissolved by the DSAC Minister, Gayton McKenzie. Lindeka Moeng, the NFVF company secretary, stated that under this emergency statutory mechanism, the incoming CEO will simultaneously serve as the acting accounting authority for the public entity.

As the designated accounting authority, the new CEO is statutorily empowered to execute fiduciary sign-offs, thereby guaranteeing the timely allocation of critical quarterly core funding and the disbursement of the Presidential Employment Stimulus Programme. This administrative setup is designed to prevent any financial delays or operational shutdowns for independent film professionals, production houses, and crew members throughout the sector during this transition period.

The NFVF noted that Bokaba brings extensive leadership experience spanning music, theatre, film, cultural policy, and arts management. He holds both a master's degree in business administration and a doctorate in cultural policy and management.

Minister McKenzie dissolved the NFVF council last Wednesday subsequent to the council appointing one of its own members as the acting chief executive. The ministry indicated that McKenzie had corresponded with the then council chairperson on July 7, detailing the legal issues associated with the appointment and presenting the council with two legal alternatives, neither of which was adopted.

McKenzie formally notified his intention to dissolve the council on September 14, and the council responded in writing on September 18. In its written reply, the council acknowledged that the law governing the foundation did not permit the appointment of an acting chief executive from outside the NFVF, and it did not contest the legality of the appointment, according to the ministry.

The ministry further pointed out that the council accepted that the member's resignation from the council failed to meet the requirements of the Act, meaning she held an executive position while simultaneously serving on the oversight body. McKenzie also referenced the recent departure of the council chairperson and the council's mismanagement of the suspension of a former acting chief executive, an issue where the ministry claimed the council disregarded its guidance once more.

Previously, the NFVF had suspended its then acting chief executive, Onke Dumeko, on June 25 pending an independent administrative review, as reported by IOL at the time. The ministry assured that approved and committed funding, including funds within the current PESP6 Blockbuster cycle, would continue to be disbursed, and that the department was collaborating with the foundation's management to ensure no payments were halted for filmmakers, production houses, cast, or crew.

The ministry confirmed that an investigation into whistleblower claims at the NFVF, which is being conducted by the department's internal audit unit rather than the council, would proceed, and the process for selecting a new council had commenced.

McKenzie commented, saying, 'I gave this council written notice of the problem in July and offered it two lawful ways out. It took neither. The arrangement ended only once dissolution was on the table, which eroded the last of my confidence in this council.'

'I am acutely aware of what happened the last time this council was dissolved, when funding approvals stalled for three months,' he added. 'That is exactly why we shall move quickly to appoint a new council, and to ensure that processing continues in the legal manner.' He concluded by stating, 'The people who depend on this foundation did nothing wrong, and they will not be made to carry the cost of governance issues that were not of their making.'

Similar stories

Anup Bagchi appointed as new Managing Director and CEO of HDFC Bank
Read more
www.aajtak.in

Anup Bagchi appointed as new Managing Director and CEO of HDFC Bank

HDFC Bank has appointed its new head. Anup Bagchi was appointed as Managing Director and Chief Executive Officer for a three-year term, starting from October 27, 2026. Approval for his candidacy was received on Thursday, and the Reserve Bank of India (RBI) granted permission for the selection of the new head.

Currently, Bagchi holds the position of Managing Director and CEO at ICICI Prudential Life Insurance. He will replace Shashidhar Jagdishan, who informed the board of directors in August that he does not intend to continue working after the end of his term on October 26.

In regulatory filings, HDFC Bank stated that the Reserve Bank of India approved the appointment of Bagchi as Managing Director and Chief Executive Officer for three years. Subsequently, the bank's Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved Bagchi's appointment as an additional director of the bank effective October 2, 2026, during a meeting held on October 1, 2026.

HDFC Bank also approved the appointment of Anup Bagchi as Managing Director and CEO for a period of three years, commencing on October 27, 2026, subject to compliance with conditions approved by the RBI (including remuneration), which will depend on shareholder approval in accordance with the provisions of the Companies Act, 2013.

Anup Bagchi possesses over three decades of experience in the banking and financial services sector. He began his career at ICICI Group in 1992. During his tenure, he handled various sectors, including retail banking, MSMEs, corporate banking, treasury, and credit policy.

He received education from two major institutions in the country. In 1990, he obtained a Bachelor of Chemical Engineering degree from IIT Kanpur. He then pursued management studies at IIM Bengaluru, marking a transition in his career from technical education to management and banking.

Bagchi has been associated with ICICI Bank since 1992 and has held numerous important positions there. In 2017, Bagchi became an executive director of the ICICI Bank board. In this role, he was responsible for key areas such as wholesale banking, transactional banking, markets, and the proprietary trading group.

Popular