Outgoing Discovery Health boss Ryan Noach finds new home

Outgoing Discovery Health CEO Ryan Noach has been appointed as the new boss of the DNI Group and will take over the reins at the telecommunications and technology holding company in March.

Two weeks ago Discovery said Noach will step down from the role at the end of 2023 “to pursue an entrepreneurial opportunity outside the healthcare and financial services sectors”.

Noach, who will be leaving Discovery after 15 years with the group, said he was excited about joining DNI, which operates in the telecommunications, retail and technology sectors. He will replace the company’s cofounder Andrew Dunn, who will transition to the role of executive chair.

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“I am truly privileged to be joining Andrew Dunn and the exceptional team at the DNI Group, and to build upon the legacy established by Andrew. We will uphold our commitment to our clients and investors, driving innovation, retaining our entrepreneurial spirit and fostering excellence at every turn,” Noach said.

“I am convinced that DNI is ideally positioned to create significant societal impact and a lasting legacy that is integral to the fibre of SA. I am eager to meet the DNI people and customers, and commence this journey with the entire DNI Group family.”

DNI counts Mike Teke, Stephen Saad, Rand Merchant Bank, Mineworkers Investment Company and Sabvest as shareholders.

Founded in 2006, DNI provides prepaid airtime services and mobile subscriber starter packs among other services. The group operates four divisions: mobile product distribution, hardware distribution, technology solutions and value-added services. The mobile distribution unit sells SIM cards, airtime and electricity, while hardware sells handsets.

DNI employs more than 1,000 people, bringing in annual revenue of about R10bn and operates in 29 countries in Africa.

Dunn said Noach has a “remarkable” track record in innovation.

“As we take this step forward, I am excited to continue contributing to the company’s success in my new role as executive chair. Dr Noach is the perfect leader to take the reins, and I have full confidence in his abilities to guide the DNI Group towards an even brighter future,” Dunn said.

“The entire team at the DNI Group is thrilled about this transition and the opportunities it will bring. We remain deeply committed to our clients, investors, and partners, and look forward to the exciting journey ahead under the leadership of Dr Noach.”

Noach will be replaced at Discovery Health by his deputy Ronald Whelan. One of his last acts as Discovery Health’s CEO was to successfully push back against the Road Accident Fund when it wanted to exclude medical aid members from its benefits.

Noach has been credited with building Discovery Health into the dominant player it is today. 

Discovery Health is SA’s leading medical scheme administrator, managing 39.1% of the total membership of SA medical schemes, including Discovery Health Medical Scheme, the country’s largest open medical scheme, now representing 57.8% of the open medical scheme market.

khumalok@businesslive.co.za