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” or “the Group”)


CHANGES TO THE BOARD


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 1 April 2019:

    •   AfroCentric Group Chief Executive Officer (“CEO”), Antoine van Buuren (“Antoine”), has announced
        his retirement as CEO with effect from 31 March 2019.

        Antoine has served as the CEO of AfroCentric Group since 2015 and has played a significant role in
        the success of AfroCentric. He was responsible for a number of acquisitions and mergers that placed
        the Group amongst the largest players in the South African healthcare sector.

        The AfroCentric Board thanks him for his immense contribution to the Company’s success in the last
        three years - as a shareholder, a board member and as CEO, and wishes him well in his retirement.



    •   Ahmed Banderker (“Ahmed”) has been appointed as the new Group CEO with effect from 1 April 2019.

        Ahmed, who is a chartered accountant, has served as Chief Executive of Sanlam Strategic Business
        Development since 2011. He joined the Board in 2015 as a Non-Executive Director and has also
        served as a Non-Executive Director of Medscheme Holdings (Pty) Limited – AfroCentric’s largest
        subsidiary, as well as various AfroCentric Board Committees.


        The Board congratulates Ahmed on his new appointment and looks forward to his contribution as
        Group CEO.




Johannesburg
13 February 2019

Sponsor
Sasfin Capital (a member of the Sasfin Group)

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