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changes to the board and leadership update: AfroCentric Group
AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
(“AfroCentric” or the “Group”)
CHANGES TO THE BOARD AND LEADERSHIP UPDATE: AFROCENTRIC GROUP
On 29 May 2023, we announced the conclusion of the acquisition of a controlling stake in
AfroCentric Group by the Sanlam Group, a significant milestone for us and our clients. Together,
we have a vision of extending high-quality healthcare solutions to all our customers and becoming
a leading health and wellness business in South Africa and Africa. Today, we are thrilled to
announce the addition of new leaders to the AfroCentric Executive leadership team. These
leaders will play a key role in helping us achieve this vision.
CEO DESIGNATE: AFROCENTRIC GROUP
Ahmed Banderker’s (the current Afrocentric CEO), 5-year term is nearing conclusion and has
decided to step down as AfroCentric Group CEO and re-join the Sanlam Group at its Cape Town
headquarters effective 1 November 2023. Ahmed’s warm, approachable style has seen him
achieve significant success in his role at AfroCentric and he will be missed by staff and clients
alike. Ahmed joined the AfroCentric Group Board in December 2015, serving as a member of the
Remuneration Committee, Nomination Committee, and Investment Committee before becoming
the Group CEO in early 2019. We have seen the Group grow under his leadership, particularly
during the challenging COVID period. Amongst the key highlights of his tenure is the successful
conclusion of the Sanlam transaction. The AfroCentric Group wishes to extend its gratitude to
Ahmed for his contribution and wish him well on this next exciting journey in his career at Sanlam.
To that end, we are delighted to announce the appointment of Gerald van Wyk, to the role of
CEO Designate: AfroCentric Group, effective 1 August 2023 until 31 October, after which he will
assume the role of Group CEO. As part of his appointment, Gerald becomes an Executive
member of the AfroCentric Board and Sanlam Corporate Exco. Gerald is a seasoned executive
and boasts a remarkable track record in the financial services industry having held various key
positions throughout his career, including his current role as CEO: Santam Client Solutions. His
extensive work history includes executive roles such as Executive Head of Strategic Business
Development and Head of Market and Business Development at Santam, as well as leadership
positions at Discovery Insure, Mutual & Federal, and Hollard, among others.
Gerald is a past president, and former Executive council member, of the Insurance Institute of
Gauteng (IIG). As a result, he holds strong reinsurer, insurer, broker and service provider
networks and relationships across Southern Africa. Gerald holds a BCom in Risk Management
from Unisa, has completed the Management Development Programme at Stellenbosch University
and the General Management Programme at Harvard University.
Gerald and Ahmed will work closely together to ensure a smooth transition ahead of Ahmed
assuming his new role within the Sanlam Group.
CEO: MEDSCHEME
As part of the continued focus to strengthen the leadership bench strength of the AfroCentric
business, we are pleased to welcome Andrew Schwulst as CEO of Medscheme, a major
subsidiary of the AfroCentric Group. Andrew will be reporting to the AfroCentric Group CEO.
Having served as the CEO of Liberty Health for more than 12 years, Andrew brings with him a
wealth of knowledge, invaluable insight, and a deep understanding of the sector. Andrew’s deep
expertise in the healthcare industry and extensive global leadership experience will make a
significant impact on the delivery of our health strategy.
Throughout his career, Andrew has held various senior leadership roles, including serving as a
director for several entities within the Liberty Health group of companies. Over a period of 12
years, Andrew worked for a number of large private hospital groups, two of those years in
Australia and 10 years with the Netcare group in South Africa.
The refinements to our Exco and leadership capability are key to the success of our business,
and the delivery of the Sanlam Group Health Strategy. We would like to thank Ahmed for his
leadership and contribution and welcome Gerald and Andrew to the AfroCentric Group.
Please join us in congratulating these colleagues on their appointments. We wish them all the
best in their future endeavours.
Johannesburg
3 July 2023
JSE Sponsor to AfroCentric
uestco Corporate Advisory Proprietary Limited
Date: 03-07-2023 01:00:00
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