AFROCENTRIC INVESTMENT CORPORATION LIMITED - Changes to the board

Changes to the board

AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1988/000570/06)
JSE Code: ACT
ISIN: ZAE000078416
(“AfroCentric” or “the Company”)


CHANGES TO THE BOARD – APPOINTMENTS OF DIRECTORS AND CHANGE OF ROLE OF
DIRECTORS


In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, the AfroCentric board of directors
(“the Board”) hereby notifies shareholders of the following changes to the Board with effect from 23 November
2018:


    •   Professor SA Zinn is appointed as an Independent Non-Executive Director.

        Prof Zinn is the former Group Head of Human resources at Woolworths Holdings Limited and former
        Human Resources Director of Standard Bank South Africa and Deputy Global Head of Human
        Resources for the Standard Bank Group (portfolio included BBBEE and CSI) and has since registered
        her own company: Shirley Zinn Consulting that provides consulting and advisory services in HR,
        Transformation, Leadership and Education. Prior to this she was the Group Executive HR at Nedbank.
        Before this, she was the General Manager for Human Resources at the South African Revenue Service
        (SARS). She is also an Extraordinary Professor at the University of Pretoria’s Department of Human
        Resource Management and is the Past President of the Institute for People Management South Africa.
        She started her career as a secondary school teacher of English, then moved to the University of the
        Western Cape where she lectured in Teacher Education. After this, she served at Southern Life as
        Training Manager and then moved to the Department of Public Service and Administration’s: South
        African Management Development Institute, in Pretoria as Director. She held the position of Executive
        Employment Equity at Computer Configurations Holdings. Before her appointment at SARS, she filled
        the role of Regional Human Resources Director for Middle East and Africa for Reckitt Benckiser, a
        global company listed on the London Stock Exchange.

        Prof Zinn holds a BA (University of Western Cape), Post Graduate Higher Diploma in Education
        (University of the Western Cape); B.Ed. Honours (UNISA); M.Ed. (University of the Western Cape);
        Ed.M. (Harvard); and Doctorate in Education (Harvard).

    •   Mr B Fernandes is appointed as an Independent Non-Executive Director.

        Mr Fernandes holds a B.Comm (Accountancy), B.Acc and B.Com Honours (Investment Management)
        Cum Laude and is CA (SA). Bruno completed his accounting articles of Clerkship in audit at KPMG
        Corporate Finance in 1995. He is currently consulting privately. Bruno was the former Investment
        Banking Vice-President at Nedbank Investment Bank Limited and former Principal at Nedbank Limited.
        He was the former Group Operations Risk Review Manager at Balfour Beatty Limited in UK, London.
        Bruno belongs to the Chartered Institute of Business Management (ACIBM), Investment Analysts
        Society of SA (IAS) and the Golden Key International Honour Society.

    •   Ms LL Dhlamini, an existing Independent Non-Executive Director and Chairman of the Audit & Risk
        Committee, will take up the role of the Lead Independent Non-Executive Director.
    •   Mr SE Mmakau has resigned as an Independent Non-Executive Director and Member of the Audit &
        Risk Committee to take up the role of Executive Director / Group Chief: Technology of the Group.


The Board welcomes Professor Zinn and Mr Fernandes and looks forward to their contributions as Directors
of the Company.




Johannesburg
26 November 2018

Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

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