A payment dispute has derailed the completion of the third and final phase of Nelson Mandela Bay’s biggest water augmentation project, the Nooitgedacht Water Treatment Works.
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Nico Steyn
Nico Steyn, co-founder and CEO of IoT.nxt, the Internet of things technology specialist acquired by Vodacom in 2019, has stepped down with immediate effect.
Steyn will remain as a shareholder of the company and will continue to serve on the board. He will “assist in the leadership transition and will work with the executive team to drive the growth and innovation strategy of IoT.nxt in a new capacity”, the company said on Monday.
“As a founder, making this decision is not easy. However, I know the exceptional executive team that we have assembled over the past 18 months is well positioned to embrace the next phase of commercialisation and corporatisation that is required for IoT.nxt’s journey of globalisation,” Steyn said in a statement.