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Changes to the board
The South African National Roads Agency SOC Limited
Incorporated in the Republic of South Africa
(Registration number 1998/009584/30)
Alpha code: BINRA
(“SANRAL” or the “Company”)
CHANGES TO THE BOARD
In accordance with paragraph 6.39 of the Debt Listings Requirements, bondholders are advised that
the Minister of Transport, Mr Fikile Mbalula, has confirmed the appointment and reappointment of
the following Board members who will serve on the Company’s board of directors (“Board”) for a
three-year term effective 9 January 2023:
• Mr Themba Mhambi (non-executive, independent Chairperson) – reappointment;
• Mr Robert Haswell - (non-executive, independent director) – reappointment;
• Mr Thamsanqa Matosa - (non-executive, independent director) – reappointment;
• Mr Errol Makhubela (representative of Department of Finance) - (non-executive director) –
continues to serve on the Board;
• Mr Chris Hlabisa (representative of Department of Finance) – (non-executive director) -
reappointment ;
• Ms Refilwe Buthelezi – (non-executive, independent director) - new appointment; and
• Ms Noluphumzo Leonora Noxaka – (non-executive, independent director) - new appointment.
Mr Reginald Demana, CEO, serves as the executive board member.
In addition, Ms Lungile Madlala’s term on the Board has expired with effect from 8 January 2023
following the conclusion of her three-year term. SANRAL is grateful to the outgoing Board member
for the governance and technical oversight she provided to SANRAL during her tenure.
The above changes to the Board follow the conclusion of the three-year term of the previous Board
and have been made in terms of section 12(2)(b) of the SANRAL Act, No 7 of 1998, as amended.
The reappointment of the majority of the previous Board members guarantees a good degree of
continuity, while the inclusion of two new Board members will bring about fresh perspective and
insight to the Company.
The board is in the process of reviewing committee composition and an announcement will be made
in due course once that has been finalised.
10 January 2023
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 10-01-2023 01:15:00
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