Outgoing Auditor-General Shauket Fakie has been appointed to head multinational telecommunications group MTN's business risk management, the group announced on Monday.

Fakie's term of office as AG is set to end in November, and he will take up his new post on January 1, 2007.

MTN group president and CEO, Phuthuma Nhleko, said on Monday: "We are delighted to have someone of the calibre and experience of Shauket Fakie to be responsible for the management of business risk across the group."

MTN's operations had a widespread and deep impact on the economies of the 21 countries in which it operated, he said.

"We believe that Mr Fakie's experience and the respect for his achievements in South Africa and across the globe will be invaluable to our business."

Deputy Auditor-General Terence Nombembe has been nominated by the National Assembly to take over from Fakie as South Africa's new auditor-general.

Sapa

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