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AFROCENTRIC GROUP
92
GOVERNANCE
The Board established and delegated specific roles and
responsibilities to Sub-committees. Each Committee’s roles,
responsibilities and membership are according to their Board-
approved charter. The Directors have delegated specific
responsibilities to Committees to assist the Boards of
AfroCentric Investment Corporation Limited and the major
subsidiary, AfroCentric Health Proprietary Limited (“AHL”), in
meeting their oversight responsibilities. The delegation of
authority does not absolve the Board and its Directors of their
fiduciary duties and responsibilities. The Directors confirm that
the Committees have functioned within their charters during
the financial year.
The AHL Executive Enterprise Risk Committee and
Transformation Committee do not operate at Group level. The
Board relies on the Sub-committees of AHL and entrusts them
to function and operate as intended while updating the Board
as to any material matters.
BOARD COMMITTEES
AND ATTENDANCE
AFROCENTRIC INVESTMENT CORPORATION LIMITED
Role/
classification
Board
(4 Scheduled)
Audit and
Risk
Committee
(5)
Remuneration
Committee
(4)
Nomination
Committee
(3)
Special (1)
Social and
Ethics
Committee
(3)
Investment
Committee
(4)
ICT
Steering
Committee
(5)
Director
Non-executive Directors
Dr ATM Mokgokong
4/4
3/3
Chairperson
1/1
MJ Madungandaba
4/4
4/4
3/3
4/4
Deputy Chairperson
1/1
ND Munisi
4/4
2/3
A Banderker
4/4
3/4
3/3
4/4
IM Kirk
2/4
JG Appelgryn**
1/1
Executive Directors
A van Buuren
4/4
4/4
Group Chief Executive Officer
H Boonzaaier
4/4
Group Chief Financial Officer
WH Britz
3/4
Independent
Non-executive Directors
JM Kahn
4/4
4/4
2/3
3/4
MI Sacks
1/4
2/4
2/4
LL Dhlamini
4/4
5/5
NB Bam**
1/1
1/1
HG Motau*
1/1
1/1
Y Masithela**
1/1
1/1
GL Napier**
1/1
1/1
1/1
SE Mmakau*
2/2
3/5
1/1
NV Qangule***
3/3
* Appointments were as follows:
SE Mmakau was appointed 30 November 2016, HG Motau was appointed 15 May 2017.
** Resignations were as follows:
NB Bam (1 November 2016), Y Masithela (15 September 2016), GL Napier (1 November 2016) and JG Appelgryn (1 November 2016).
*** NV Qangule was appointed 30 November 2016 and resigned 14 March 2017.