Wrap Text
Board and committee changes
Alexander Forbes Group Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2006/025226/06)
ISIN: ZAE000191516
Share Code: AFH
(the Company or Alexforbes or Group)
BOARD AND COMMITTEE CHANGES
In compliance with paragraph 3.59 of the JSE Limited Listings Requirements shareholders of the Company
are advised of the following new appointments and changes in director responsibilities.
Ms Marinda Dippenaar and Messrs Pavan Dhamija and Gary Herbert have been appointed as non-
executive directors of the Company with effect from 26 August 2022.
Ms Marinda Dippenaar
Marinda holds BCompt Honours and CTA in accounting and Bcom Accounting degrees and is a qualified
Chartered Accountant (SA). She completed her articles at PricewaterhouseCoopers Incorporated (PwC) in
2006 after which she joined the PwC Corporate Finance Valuations team, where she was involved in the
valuation of large unlisted companies across various sectors as well as intangible asset valuations under IAS
38. Marinda joined Alexforbes in 2008 as a Corporate Finance Manager. In the eight-year period at the
Company she was responsible for managing the debt post the delisting and leveraging of the Group in 2007,
as well as Group treasury and capital management. She was also involved in the disposal of certain non-
core subsidiaries, which included large multi-national and cross border transactions. In 2014 she was
responsible for the full restructure of the Group balance sheet and the listing of Alexforbes on the JSE
Limited (JSE).
Marinda joined African Rainbow Capital Investments Limited (ARC) in 2017 as Deal Executive. She was
responsible for the listing of ARC on the JSE in September 2017. Over the last 6 years, she has taken
responsibility for the negotiation, structuring and implementation of several of the non-banking Financial
Services investments in the ARC portfolio. She also has executive responsibility for the portfolio
management of the non-banking Financial Services group, where she is a board member. Marinda also
serves on the boards of QED Actuaries & Consultants Proprietary Limited and Capital Legacy Solutions
Proprietary Limited. In addition, she has primary executive responsibility for the external funding and cash
management across the wider ARC group.
Mr Pavan Dhamija
Pavan is a financial services professional with more than 25 years of industry experience, primarily with
General Electric, Standard Chartered Bank, HDB (HDFC Bank) and Prudential Financial Inc. (Prudential).
He has initiated and implemented effective business models in India and China and built successful strategic
partnerships, many from scratch. He has direct experience across retail asset and life insurance businesses
and products with deep experience in driving and creating long-term value.
He is currently the Regional President, International Businesses of Prudential International Insurance (PII)
with the overall responsibility of delivery of business results as well as building PII's presence in and its
capabilities for success in select markets in Emerging Asia and Africa. He is also responsible for leading
efforts around Business Development and mergers and acquisitions across all of Prudential’s Emerging
Markets. Prior to this role, Pavan’s positions included Head of Strategy and Innovation for PII and
Managing Director and CEO of Prudential’s life insurance joint venture in India.
Mr Gary Herbert
Gary holds a Bachelor of Commerce in accounting and Bachelor of Science in actuarial science from
the University of the Witwatersrand and is a Fellow of the Institute and Faculty of Actuaries.
He is a Partner and co-founder of LeapFrog Investments, a private investment firm that invests in high-
growth financial services and healthcare companies in emerging markets with over $2 billion in
committed capital from global investors. He brings to Alexforbes over three decades of investing,
operating and leadership experience across the African continent.
At LeapFrog, Gary is a member of the Management Board, an Investment Committee Member on all
LeapFrog funds and Chief Operating Officer, overseeing operations, finance, legal, information
technology and human resources functions globally. He also leads LeapFrog Strategic Africa
Investments, the firm’s separate account with Prudential and heads up the South Africa office.
Before joining LeapFrog as a member of the founding team, Gary co-founded Investment Solutions
(now Alexander Forbes Investments Limited) and was also joint Managing Director of Alexander Forbes
Financial Services. He also serves as vice-chairman of the Jewish Helping Hand, a leading non-profit
social services organisation.
The Board is very pleased with the depth of skills, experience and expertise these directors bring and
welcome them to the Board.
Committee appointments and changes in responsibilities
In addition, the following appointments were made:
• Mr Herbert to the Nominations-, Remuneration- and Mergers and Acquisitions committees with
effect from 26 August 2022.
• Ms N Medupe as a member of the Social, Ethics and Transformation Committee with effect from 26
August 2022.
• Mr T Dloti as lead independent director with effect from 3 September 2022 to succeed Mr NG
Payne once he retires at the Company’s annual general meeting on 2 September 2022.
Carina Wessels
Executive: Governance, Legal, Compliance and Sustainability
26 August 2022
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 26-08-2022 03:15:00
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