Wrap Text
BINRA - Changes To The SANRAL Board Of Directors
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 SANRAL BOARD OF DIRECTORS
In accordance with paragraph 6.42 of the Debt and Specialist Securities Listings
Requirements, bondholders are advised that the Minister of Transport, Ms Barbara Creecy,
MP, 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, the
appointments are effective from 01 March 2026 and are for a three-year term:
• Mr Protas Thamsanqa Phili CA(SA) (non-executive, independent Chairperson) – new
appointment;
• Dr Ismail Vadi (non-executive, independent director) – new appointment;
• Ms Orateng Yvonne Motsoai (non-executive, independent director) – new
appointment;
• Ms Refilwe Buthelezi (non-executive, independent director) – reappointment; and
• Ms Rochelle Blaauw (non-executive, independent director) – new appointment.
Mr Protas Thamsanqa Phili CA(SA) – Chartered Accountant (CA(SA)) with BCom, CTA and
MCom (Tax). Co?founder and Managing Director of Khwezela Investment Group (investment
and corporate finance advisory). Has more than 17 years' board experience across
state?owned entities and JSE?listed companies, including chairing boards and audit & risk
committees (e.g., Chair: National Nuclear Regulator; Chair: Khula Credit Guarantee SOC;
Non?Executive Director and Audit Committee Chair: Resilient REIT Limited; board roles with
IRBA and prior roles including Rand Merchant Bank).
Dr Ismail Vadi – Holds BA and BA Honours (History) from the University of the Witwatersrand,
a Higher Education Diploma (UNISA), MA (History) (Wits), MA (Security Studies) (University
of Pretoria) and a PhD (Political Science) (University of Pretoria). Served as a Member of
Parliament (1994–2010) and as MEC for Roads and Transport in Gauteng (2010–2019), with
extensive governance and oversight exposure through parliamentary committee leadership
and public sector executive roles.
Ms Orateng Yvonne Motsoai – Legally trained with B Juris and LLB, a Diploma in Legislative
Drafting, an MBL and a Masters in Banking Law. Lead Legal Counsel at the South African
Reserve Bank/Prudential Authority (from 2017), with prior senior legal governance roles in the
Department of Public Enterprises (Chief Director: Legal & Governance). Board experience
includes Chairperson of the Mental Health Review Board (City of Johannesburg) and prior
Non?Executive Director role at Pikitup.
Ms Refilwe Buthelezi Pr Eng (ECSA) – Professional Engineer with BEng (Electrical &
Electronics), Masters in Engineering Management (UJ) and MBL (UNISA), and a Certified
Director (SA) credential. Senior Manager: Automation Assets at Rand Water (since 2015) with
prior engineering and asset management roles at Eskom. Extensive governance exposure
through leadership and council roles, including President of the Engineering Council of South
Africa (ECSA) (2022–2025) and Chairperson of Council at Vaal University of Technology
(2021–2025), and participation in audit/risk governance structures.
Ms Rochelle Blaauw – Human Resources and organisational development professional with
qualifications including BA Human Resources Management (UJ) and BA Honours in Industrial
& Organisational Psychology (UNISA), plus leadership development at GIBS. Experience
spans HR, skills development and transformation roles including Transformation Manager at
SAP Southern Africa and prior skills development/localisation and diversity leadership at
TATA Consultancy Services. Board/oversight roles include membership of the MICT SETA
Board (2022–2025) and Chairperson of its Finance & Remuneration sub?committee (2024–
2025), and prior trusteeship of the Barloworld Education Trust.
The above appointments and reappointments were made pursuant to section 12 of the
SANRAL Act 7 of 1998, as amended (SANRAL Act).
Bondholders are further advised that the terms of office of the following Board members ended
on 28 February 2026 following the conclusion of two consecutive terms:
• Mr Themba Mhambi (non-executive director and Board Chairperson);
• Mr Thamsanqa Matosa (non-executive director); and
• Mr Robert Haswell (non-executive director).
SANRAL expresses its sincere appreciation to Mr Mhambi, Mr Matosa and Mr Haswell for
their leadership and dedicated service over the two terms, and for the governance, strategic
guidance and technical oversight they provided to SANRAL during their tenure.
Mr Reginald Demana, CEO, serves as the executive board member and remains in place.
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.
The Board will undertake a thorough review of the composition of its committees to ensure
continued effective governance and oversight. Following the completion of this review
process, a formal announcement regarding any changes or updates to the committee structure
will be made in due course once the details have been finalised.
02 March 2026
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 02-03-2026 03:36:00
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