Sharenet Sites 
Sharenet Sites
ABKI - Notification of Change in Auditor
AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
Company code: ABKI
(the “Bank”)
NOTIFICATION OF CHANGE IN AUDITOR
Noteholders are advised that, in accordance with paragraph 6.28 of the JSE Limited Debt Listings
Requirements, the Bank and African Bank Holdings Limited (“ABHL”) (collectively the “group”) intend to
appoint KPMG Incorporated (“KPMG”) as the auditor for the financial year ending 30 September 2022
(“FY2022”).
The current auditor, PricewaterhouseCoopers Inc (“PwC”) will continue to act as the auditor for the group
for the financial year ending 30 September 2021 (“FY2021”). PwC were appointed by the ABHL and Bank
boards of directors (the “Board”) during September 2017. They were appointed as the group’s external
auditors for a period of three years commencing from the financial year ended 30 September 2018, which
period was extended for a further period of one year to the end of the financial year FY2021. In light of
PwC’s term of appointment coming to an end, by way of a planned rotation, the Bank embarked on a RFP
process for the appointment of external auditors for the financial year FY2022.
The Audit and Compliance Committee (AuditCom) has recommended the appointment of KPMG as external
auditors of the group for the financial year FY2022, subject to such appointment obtaining the requisite
approvals by the shareholders and the regulatory authority.
KPMG’s appointment was considered at the ABHL and Bank Board meetings on 21 July 2021 and the
appointment will be proposed to the ABHL shareholders for approval at an extraordinary general meeting
scheduled to take place on 12 August 2021. In addition, the appointment of the audit firm, and the lead
audit partner, are subject to the approval of the Prudential Authority of the South African Reserve Bank.
Accordingly, a further announcement will be made once these approvals have been obtained.
23 July 2021
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 23-07-2021 01:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
