Nico Papanicolaou, IT Executive

Johannesburg, Gauteng

Nico has been TUHF’s IT Executive since July 2020 and has been involved in Executive IT Management since 2007. His career in Information Technology Management began in 2000, when he was the Lead Architect for a multinational technology company specialising in large scale digital image processing, while concurrently completing his BSc (Hons).

In 2006, Nico joined Soft Audit, a Software Development company offering specialised audit and governance management software for the Banking, Mining and Power sectors. He drove their development strategy and became their Chief Solutions Architect, implementing a large-scale Enterprise Governance Solution for Eskom Holdings spanning the length and breadth of the organisation from Transmission, Distribution, Generation and Executive Management, with a touchpoint of over 10 000 users.

When Innovate Governance Solutions acquired Soft Audit in 2007, Nico was appointed as the CIO and continued expanding and servicing the Eskom contract, as well as the Mining and Banking portfolio. In 2014 Nico was in-sourced by 20Twenty Projects as their CIO/CTO to manage the IT roll-out of their extensive condition assessment project for the Department of Public Works and develop a multi-tiered platform to automate and manage their multi-province condition assessment projects.

In 2015, he drove multiple projects and achieved the GC Mark – a German Certification in information security and the first of its kind in South Africa.

Nico holds a BSc (Hons) in Computer Science & Information Technologies.

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Bonga Xulu, Regional Manager

Johannesburg, Gauteng

Bonga Xulu joined TUHF in 2020 as the Regional Manager for Gauteng. He brings a wealth of experience to the business, beginning his career at Nedbank in 2005 and holding managerial rolls at Absa, RMB, and MSX Properties. Before joining TUHF Bonga was a Client Portfolio Executive at FNB, where his primary responsibilities included driving the strategy to increase growth of his portfolio assets and performing various financial modeling exercises intended to bolster investment and funding decisions.

Bonga holds a BCom Accounting (University of Johannesburg), a BCom (Hons) Accounting (University of KwaZulu Natal) and a PgDip in Property Development and Management (University of the Witwatersrand).

With more than 10 years post-articles experience working for prominent South African Investment Banks, Bonga’s core skills range across financial modelling, compiling financial credit papers, assessing financial statements, financial management, deal structuring, deal origination, analyses of macro and micro economic trends and formulating portfolio growth strategies.

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Sershin Moodley, Regional Manager

Durban, KwaZulu-Natal

Sershin’s career in finance started in 2007 and includes residential and commercial property finance, technology finance and asset finance with the leading banking brands. These brands include FNB, Bidvest and Dell Finance. He holds an MBA in strategy and finance modelling and NMDP from Stellenbosch .

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Lusanda Netshitenzhe, TUHF21 CEO

Johannesburg, Gauteng

Lusanda has over 20 years’ experience in the property and affordable housing sector. She joined TUHF in 2007 as Portfolio Manager and opened TUHF’s KwaZulu Natal operations in 2009. She served as Development Impact Executive at TUHF before becoming CEO of TUHF21 in April 2021.

She holds an MBL (UNISA) and an MSc in Development Planning (Wits). She completed the Executive Programme in Advanced Property Development (Graduate School of Business, UCT) and Wharton International Housing Finance Course (University of Pennsylvania, USA).

Lusanda works to ensure that TUHF21’s subsidiary businesses – uMaStandi and Intuthuko – become viable Social Enterprises and contribute to real development impact in townships and inner-city areas around South Africa.

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Ilona Roodt, Financial Director

Johannesburg, Gauteng

Appointed to the board: December 2016

Ilona Roodt is the Financial Director at the TUHF, managing the entire financial process within the company. Her role includes Financial reporting, Policy development and implementation, Treasury and Risk Management, Governance and regulatory compliance.

Before joining TUHF, she held positions as financial manager at Standard Bank Property Finance & Advisory services, Portfolio Manager for Rand Merchant Bank (a Division of First Rand Bank Ltd), and Credit Manager and Corporate & International Credit at Nedcor Bank.

Ilona holds a B.Com (Accountancy, Auditing, Commercial Law), C.T.A./B.Compt (Accountancy, Auditing, Tax), PAAB Qualifying Exam – CA (SA), JSE Compliance Officer Rules Exam, Mortgage finance (Wits Business School), Property Development Programme (SAPOA), H. Dip Tax, and an International Housing Finance Program (Wharton Business School, Pennsylvania) qualification.

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Paul Jackson, Chief Executive Officer

Johannesburg, Gauteng

BSc in Agricultural Economics (University of Natal), BSc (Hons) in Agricultural Economics (University of Pretoria), Property Development Programme (University of Cape Town) 

Appointed to the board: 21 May 2003

Paul Jackson is a co-founder of TUHF and has been TUHF’s CEO since its inception in 2003.

Paul’s career in Development Finance commenced in 1987 at the Development Bank of South Africa as an Agricultural Economist, working his way up to the position of Divisional Manager, Rural Development. From there he moved on to become General Manager of the Transitional National Development Trust, and he was chair of the KwaZulu Natal Agricultural Forum during the transition. Paul joined the Johannesburg Housing Company as Operations Manager in 1999.

In addition to his Executive Director position within the TUHF Group of Companies, he holds board positions with the Centre for Affordable Housing Finance (CAHF) and Divercity Urban Property Fund. Paul has held board directorships on the Mvula Trust, Alexander Social Housing Company, Johannesburg Social Housing Company and Brickfields Housing Company.

Paul holds a BSc in Agricultural Economics (University of Natal), and a BSc Agricultural Economics (Hons) (University of Pretoria). He has also completed the Property Development Programme (SAPOA) and the Wharton International Housing Finance Course (University of Pennsylvania, USA).

Paul represented South Africa in Europe for rowing before his appointment as National Coach of the South African Olympic Rowing Squad for the Atlanta, Sydney, London and Rio de Janeiro Olympic Games – bagging a gold medal at the London Olympics.

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Belinda Cooke, Legal and Compliance Executive

Johannesburg, Gauteng

Belinda gained the bulk of her experience at Standard Bank Property Finance working  in various positions for over 19 years. She has also worked as an Acquisition Associate for International Housing Solutions prior to joining TUHF in 2008.

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Sivan Govender, operations manager

Johannesburg, Gauteng

Sivan holds a Bachelor degree in Accounting Science. Before joining TUHF in 2015, he spent 13 years at Old Mutual Property, where he held the roles of regional general manager and regional finance manager for four and three years respectively. During this time, Sivan was responsible for managing over R10bn in assets under management.

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Velda Derrocks, regional manager

Port Elizabeth, Eastern Cape & Western Cape

Velda Derrocks joined TUHF as the Regional Manager for the Cape Coastal region in 2017. She began her career in 2000, joining a management training programme at Absa and then moving into Absa Commercial Property Finance. She stayed with Absa until 2011, then joined Standard Bank Real Estate Finance to manage their commercial property finance division in the Eastern Cape. Velda has also worked at Investec Private Bank as an external property consultant.

Throughout her career, Velda has been involved with projects ranging from a few million Rands in investment up to R500 million. She believes that every project is unique and presents an opportunity to develop the economy and grow the property market.

Velda holds a BEcon, Commerce (Stellenbosch University), BComm Honours in Financial Management as well as two Masters degrees – an MBA and an MPhil in Development Finance, both from Nelson Mandela University. She is also an Associate of the Institute of Bankers in South Africa. She also recently completed an International Housing Finance Programme at the Wharton School, University of Pennsylvania.

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Nano Makwela, Portfolio manager

Johannesburg, Gauteng

A founding member of TUHF, Nano holds an MSc in development studies from Leeds University in the United Kingdom. He began his career at the Directorate for Development Planning in North West Province in 1992, before moving to the South African Housing Trust in 1994. Nano joined TUHF in 1999, when it was still known as the Inner City Housing Upgrading Trust (ICHUT).

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