THE FEDERATED EMPLOYERS MUTUAL ASSURANCE
COMPANY (RF) (Pty) Ltd was established as a mutual
insurer in 1936 and, on the introduction of the Workmen’s
Compensation Act 1941, was granted a license to
continue to transact workmen’s compensation insurance
for the construction industry. Our business operations are
essentially confined to the insurance of employers
against their liabilities under the Compensation for
Occupational Injuries and Diseases Act 1993 (COIDA). In
terms of the Memorandum of Incorporation of the
company, shareholding is restricted to policyholders.

Historic

Timeline

1930-1940

First policy sold in 1937; £25K premium income by 1937.

1940 - 1950

Introduction of the Workmen’s Compensation Act; £140K premium income by 1949.

1950 - 1960

Purchase of one of the first computers in South Africa; Founder Albert Barrow dies in 1951.

1970 - 1980

Decline in the construction industry saw premiums drop from R6M to R4M.

1980 - 1990

Recovery in the industry increased premiums to R14M.

1990 - 2000

Premiums grew to over R60M due to intense growth.

2000 - 2010

FEM becomes a standalone organization; Premiums grew to R173M.

2010 - 2020

Introduction of Tip Offs Anonymous in 2014; FEM Education Foundation started valued at R750M; Premiums grew to R857M by 2019.

PURPOSE

We care about the quality of life for injured workers and their dependents, and champion health and safety, for the benefit of all policyholders and society.

STRATEGIC VISION

We strive to deliver an excellent and sustainable workers’ compensation service to all stakeholders by:

Being the preferred provider of COID cover
Promoting health and safety, and accident prevention
Ensuring efficient pay-outs, quality care and empathy to our claimants
Engaging and empowering our workforce

Our

Values

Our

Values

Executive

MANAGEMENT

Nazeer Hoosen

Chief Executive Officer

Nazeer Hoosen

Chief Executive Officer

Nazeer Hoosen is a seasoned expert within the financial services sphere. A strategic thinker with a passion for establishing and growing businesses, Nazeer has a proven track record of developing and managing effective financial solutions for numerous well-known brands. He possesses strong commercial and financial acumen, investment expertise; and a great understanding of mutual insurers and the regulatory landscape within the financial services environment. His academic background includes a Bachelor in Accounting Science degree and a Masters in Business Administration (MBA).

Wade Butlion

Chief Risk Officer

Wade Butlion

Chief Risk Officer

Wade is a qualified actuary and has been a Fellow member of the Actuarial Society of South Africa and the Institute and Faculty of Actuaries since 2011. He has extensive experience as an actuary and risk management practitioner and holds the Financial Risk Management designation from the Global Association of Risk Professionals. He is also an Associate Member of the Institute of Risk Management South Africa.

Gys Mcintosh

Chief Information Officer

Gys Mcintosh

Chief Information Officer

Gys is an IT Professional with well over 30 years experience in information technology field. He began is journey with FEM as programmer and progressed into various senior roles within the IT Development and Infrastructure Field. With his vast experience and technological proficiency, he was later promoted to Chief Information Officer in 2005. He is a key strategic contributor of FEM’s Technology, Data and Analytics Strategy. He is responsible for transforming how new technologies are used to improve performance across FEM. He works with a wide range of partners to bring new technologies to FEM, refining how we interact with our stakeholders, and making internal systems and processes more efficient. Gys has obtained a Master of Business Administration.

Ayesha Ismail

Chief Human Resources Officer

Ayesha Ismail

Chief Human Resources Officer

Ayesha is an HR Professional with more than three decades’ experience. She started her journey with FEM as an HR Manager in 2003 and was later promoted to the Chief Human Resource Officer of the organisation in 2005. Ayesha’s role entails balancing the HR initiative with the strategic objectives of FEM while simultaneously incorporating functions of the various business units within the larger organisation. Ayesha is a key strategic contributor and supports transformation within FEM. Her passion is aligned to FEM’s People, Performance and CSI priorities. As an established hand and people builder, Ayesha has paved the way for growth by sharing her integral knowledge while offering essential guidance to her co-workers; she has always insisted on the personal-development of FEM’s employees and understands the importance that individuals play in meeting the strategic goals of FEM. Ayesha has obtained an HR and advanced labour law qualification.

Sanjay Munnoo

Chief Business Development Officer

Sanjay Munnoo

Chief Business Development Officer

PhD; MBA; Dip Mech Eng; B.Com; Dip Fin Acc; Dip BA; EMP (Oxford); BIA (MIT); FinTech (Harvard)
Member of SAIMechE; IISA; Saiosh (Fellow Chartered) Sanjay has over 18 years’ experience in the Financial Services Industry. He graduated with a PhD in Construction Management from the Nelson Mandela University in 2022. He’s a fellow chartered member and president since 2017 of professional body, the South African Institute of Occupational Safety and Health. He serves as chairperson of FEM’s Sales Committee and FEM’s H&S Committee. He served as Chairperson of the Board at the Workers Accident and Rehabilitation Centre from 2012 to 2014; Chairperson of FEM’s Manco from 2018 to 2022, and Chairperson of the KZN MBA H&S Committee from 2013 to 2016. He is passionate about innovation, strategy, and the upliftment of humanity.

Dr Lulama Magubane

Chief Medical Operations Officer

Dr Lulama Magubane

Chief Medical Operations Officer

Dr Lulama Magubane is a qualified Medical Doctor. She has 20 years’ experience in Medical Field of which 13 years were in Occupational Medicine. She is passionate about physical and mental wellbeing of the vulnerable workers. She is also skilled in COID processes. Lulama holds a degree in Bachelor of Medicine and Surgery from the University of Natal. She also obtained a Post graduate Diploma in Occupational Health from University of KwaZulu Natal. She has extensive experience in senior management. She also sharpened her management skills by doing an Executive Development Program with National School of Governance.

Thys Spies

Chief Financial Officer

Thys Spies

Chief Financial Officer

Thys Spies is a qualified Chartered Accountant (SA) and Certified Director. Thys started his career in the UK at Marks & Spencer, and on his return, back to South Africa he joined Tiger Brands. As a seasoned insurance specialist, Thys has spent most of his career at Professional Provident Society (PPS) as Group Executive: Finance, as well as short stints with ABSA Short Term Insurance and Clientele Life. Thys was instrumental in the implementation of IFRS17 at both PPS and Clientele Life and is credited as a leader in the application of IFRS17 and Life Tax in the mutual insurance environment. As Chief Financial Officer and executive director, Thys is contributing to the achievement of the strategic objectives of FEM, as well as the FEM Educational Foundation.

Non - Executive

DIRECTORS

John Barrow

Board Chairperson

John Barrow

Board Chairperson

BSc Engineering BCom (UCT) John has served as Director for Barrow Construction from 1990, and President of GMBA from 1997, to date. He was Director of Gauteng Piling; a member of Bifsa executive committee; served on the Wits Engineering Board and was St. Stithian Council member as well as Chairman for St. Stithians Planning and Development.

Costa Economou

Costa Economou

He is the Chief Executive Officer and Co-Founder of Colourfield Liability Solutions (Pty) Ltd, a liability driven investment management boutique. He is currently the President-Elect of the Actuarial Society of South Africa. He is also a former Commissioner, appointed by the President of South Africa to serve on the Independent Commission for the Remuneration of Public Office Bearers. He was formerly an Executive Director of Alexander Forbes Financial Services (Pty) Ltd.
His qualifications include:
•MBA (with Honours) in Finance and Economics from the University of Chicago Booth School of Business.
•Fellow of the Institute of Actuaries (United Kingdom).
•Fellow of the Actuarial Society of South Africa
•CFA Charterholder.
•CAIA Charterholder.
•BSc in Actuarial Science.
•BSc (Honours) in Applied Mathematics and Mathematical Statistics, majoring in Finance and Derivatives.
•He regularly attends and presents at industry conferences in South Africa on matters pertaining to retirement fund issues and investments

Kedibone Imathiu

Kedibone Imathiu

MBA (Cranfield University)
CA (SA)
BCompt Acc (Unisa)

Kedibone has over 14 years experience within financial roles, ranging from audit and accounting advisory to corporate finance, private equity and fund management while working in South Africa, UK, and USA. She is the Co-founder and Executive Director of Kazi Capital, a private equity investment firm where she is responsible for strategy, investor relations, deal generation and execution, and post-investment management. Prior to Kazi Kapital she has held roles at Investec Bank, Public Investment Corporation, and KPMG. Kedibone has served on boards across a variety of sectors including financial services, industrial services, health and education.

Chris Jiyane

Chris Jiyane

NDip in Architecture: Building Construction Technology (Wits)

Chris is a stalwart of the building industry with more than 30 years’ experience. He is currently the CEO of PC Builders, a Civil and Building Construction company, former CEO of Rainbow Construction, worked in partnership with WBHO, former Director of Grinaker-LTA. He is former Deputy Chairperson of CIDB. Chris is a board member, and Board Committee member of a the following companies in the Industry – FRANKI GEOTECHNICAL, HYDRAFORM, JPP. He is also a Member of BBCBE, MBSA.

Nico Maas

Nico Maas

BA Eng (Civil)
Chartered Director (SA)

Nico Maas obtained a BSc Eng (Civils) degree from the University of Pretoria in 1974 and received a merit award for outstanding service from Tukkies in the same year. In 1982 he attended the Construction Management Programme at UCT and in 1988 he completed a Masters degree in Construction Management at Pretoria University through part time study. Nico is a registered Professional Engineer, a Professional Construction Manager and was elected to become a Fellow of the SA Institute of Civil Engineers in 2006. Nico was appointed a director of FEM on 10 November 2004 and became chairman on the retirement of Mr J A Barrow in 2008. He stepped down as chairman on 01 December 2022.

Eric Mackeown

Eric Mackeown

Chartered Accountant ,C.A.(S.A)

Eric qualified as a Chartered Accountant ,C.A.(S.A) , in 1985 having obtained his B.Comm and B.Acc from Wits University. He started his Auditing career with Coopers&Lybrand in 1979 and spent nearly forty years in the Profession. He was admitted to partnership in 1988 and retired from PwC in 2018. During his career,Eric was responsible for the audits of some of the Firm’s largest and most prestigious multinational and JSE listed clients. He also held various Leadership positions including Staff Partner , Industry Leader, Clients and Markets Leader , as well as serving as Partner in Charge of the Johannesburg office for his last twelve years up to his retirement. Currently Eric is a Non Executive Director of Assore Holdings Ltd and Chairs their Audit Committee. He also Chairs the Audit Committee of Discovery Health Medical Scheme as well as serving on their Risk and Investment Committees. He attends their Board of Trustee meetings as an Independent invitee. Eric is a keen sportsman currently playing golf, tennis and lately Padel. He keeps fit by running and gyming and enjoys the outdoors.

Ntombizine Madyibi

Ntombizine Madyibi

Zine has a B Com degree and a B Com Honours degree from the then the University of Transkei and a Master of Business Administration degree from the University of Fort Hare. She furthermore obtained a Diploma in Labour Law (Cum Laude) and is currently in her final year Bachelor of Theology Degree. She has further developed herself in various management disciplines which include; Strategic Management, Risk Management, Knowledge Management, Advanced Financial Analysis, Project Management, Human Capital Management, Change Management, Stakeholder and Communication Management, Innovations Management and the management of operations. She is a priest in the Anglican Communion.

Aggy Moiloa

Aggy Moiloa

Masters in Public and Development Management
BA Hons Applied Psychology
BA Education

Aggy Moiloa is Deputy Director General at the Department of Employment & Labour: Inspections and Enforcement Services, Designated as the Inspector General and brings with her to the Board a wealth of knowledge in public and economic development, and seventeen years’ experience in strategic management and leadership. She has attended and participated in several international training courses, meetings and conferences.

Herbert Ngakane

Herbert Ngakane

MBChB (Natal)
FCS (CMSA)
Certificate in Accounting (Unisa)

Dr. Herbert Ngakane trained in Vascular surgery and breast surgery. He was Head of the Surgical Breast unit for University of Natal & King Edward VIII Hospital. He chaired the board that oversaw the establishment of the first three Clinix hospitals in planning, negotiating the non-acceptance and protests against the establishment of the first hospital by the community, actively involved in the building phase, equipment setting, staffing and operational phases Dr. Ngakane sits on the boards of non-profit organisations.

Lumka Tamboer

Lumka Tamboer

Lumka Tamboer earned her Bachelor of Public Administration Honours with the University of Stellenbosch (US), and also holds an Advanced Diploma in Public Administration from the University of the Western Cape (UWC) and a Higher Certificate in Economic Development from the same institution. Lumka is now serving as Regional Educator at the National Union of Mineworkers (NUM) – Western Cape. In this role, she researches, develops the content, and educates the worker leaders on the labour markets trades including the LRA. She worked for COSATU for more than seven years as a Provincial Administrator, Organising Unit, and held the position of Gender Coordinator until January 2021. As a Gender Activist, she served in different roles in a number of women organisations, namely, the Progressive Women Movement, Sisonke Gender Justice, Litha La Bantu, and was later appointed to represent labour as a sector in the Gender Multi-Party Caucus of National Parliament. Lumka has over the years been invited to present papers in a dozen of gender and labour conferences or seminars on the advancement of worker rights. From 2017 – 2019 she was appointed to the board of Cape Town TV and served in the sub-committee on Finance. Equally, she served as a board member of Community House between 2018 and 2020.

Mpume Nkabinde

Mpume Nkabinde

Mpume is the founder and co-owner of Sigma Lifts and Escalators (Pty) Ltd a company that was founded in 2005 after signing an agreement with Sigma international, a manufacturer and distributor of LG lifts and escalators. The exposure of working for companies such as SAB, PG Bison and Otis (Pty) Ltd provided much needed background to equip her for the role of running her own business. This coupled with the exposure of serving on the boards of listed and non-listed companies as well chairing some of the committees of the boards provided the experience of understanding different aspects of running a successful company. She has been a member and board member of SAPOA (South African Property Owners Association), SAIBPP (South African Institute of Black Property Practioners) and WPN (Women’s Property Network) Her qualifications include a junior degree, honours in HRD, Post Graduate Diploma in Property Management and Development as well as an MBA.

Historic

Timeline

PURPOSE

STRATEGIC VISION

Our

Values

Our

Values

Executive

MANAGEMENT

Nazeer Hoosen

Wade Butlion

Gys Mcintosh

Ayesha Ismail

Sanjay Munnoo

Dr Lulama Magubane

Thys Spies

Non - Executive

DIRECTORS

John Barrow

Costa Economou

Kedibone Imathiu

Chris Jiyane

Nico Maas

Eric Mackeown

Ntombizine Madyibi

Aggy Moiloa

Herbert Ngakane

Lumka Tamboer

Mpume Nkabinde

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