AFROCENTRIC INVESTMENT CORP LIMITED - Changes To The Board Appointments Of Directors And Change Of Role Of A Director

Changes To The Board – Appointments Of Directors And Change Of Role Of A Director

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 A
DIRECTOR


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 30 November 2016:

-   Ms NV Qangule is appointed as an independent non-executive director and as a Member
    of the Audit and Risk Committee.

    Ms Qangule is a qualified Chartered Accountant, CA (SA) and also holds a Membership to
    the Banking and related Financial Service sector’s specialist Professional Body, CAIB (SA)
    Institute of Bankers. Her current directorships include, inter alia, Astute Intellect
    Proprietary Limited, Hans Merensky Holdings, Rebosis Property Fund Limited and Nozala
    Investments Proprietary Limited.

    Ms Qangule’s previous directorships include being Chairman of the board of directors of
    Rand Mutual Assurance Company Limited and Chief Financial Officer of Harmony Gold
    Mining Company Limited. She also served as a member of the AfroCentric Health Board
    and the Chairman of the AfroCentric Health Audit Committee as well as a member of the
    Risk Committee.

-   Mr SE Mmakau is appointed as an independent non-executive director and as a member
    of the Audit and Risk Committee.

    Mr Mmakau holds a Master’s degree in Business Leadership (MBL), a Bachelor of
    Commerce (BCom) degree, both from the University of South Africa (UNISA) and a
    Bachelor of Arts (BA) degree from the University of Pretoria.

    Mr Mmakau offers more than 15 years’ experience in delivering quality services of
    Information Communication Technology. He currently holds the position of Chief
    Information Officer at the Airports Company South Africa Limited.

-   Mr JM Kahn, an existing independent non-executive director and senior member on the
    Board, will take up the role of the Lead independent non-executive director.

The Board welcomes Ms Qangule and Mr Mmakau, and looks forward to their contributions
as directors of the Company.

Johannesburg
29 November 2016

Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

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