Our governance and leadership
The AfroCentric Board embraces its responsibility for ensuring that fundamental principles of sound corporate governance are observed and institutionalised throughout the Group. Primary among these are the Companies Act, the JSE Listings Requirements, Protection of Personal Information Act (POPIA), Group Memorandum of Incorporation (MOI) and King IV. These enable the Group to be managed ethically and operate within acceptable risk parameters, complemented by its charters and policies.
Overview of key corporate governance practices
At least one-third of Non-executive Directors offer themselves for re-election at each AGM
Risk appetite set and monitored
Annual review of Board leadership structure
Combined assurance approach
Annual Board and committee evaluations
Board-approved policy on independent professional advice
MOI includes provisions on the protection of shareholder rights and the equitable treatment of shareholders
Safeguards in place to monitor transactions between the Company and our significant shareholders
Approved malus and clawback policy in place
No supermajority provisions in governing documents
Proactive stakeholder engagement programme
Risk management through an enterprise risk management framework
Succession planning and rotation
Strong Lead Independent Director
'Overboarding' (directors' external commitments) policy and provisions
No voting rights ceilings
Shareholder right to call special meetings
Related-party transactions monitored and transparently disclosed
Board diversity
Racial diversity (%)
Gender diversity (%)
Age diversity (%)
To ensure AfroCentric's Board reflects South Africa's demographics and practices of good governance, we employ qualified directors from diverse backgrounds. The diversity criteria include gender, age, ethnicity and geographic background, as well as meeting the Board's requirements for skills and qualifications. AfroCentric recognises that a diverse Board makes better decisions by reducing "groupthink", paying attention to managing and controlling risks, and understanding the Group's clients. Our gender policy outlines the Board's position on gender diversity in line with King IV requirements.
Our gender diversity policy can be viewed at https://afrocentriconline.co.za/reports/afrocentric-ar2021/pdf/gender-diversitypolicy.pdf
Board of directors
Detailed biographies of our Board can be found at www.afrocentric.za.com/au-board.php
- Non-executive Directors
- Independent Non-executive Directors
- Executive Directors
Non-executive Directors
DR ANNA MOKGOKONG (64)
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Further information
Chairman
Qualifications: BSC, MBCHB, DCom (HC)
Appointed: 10 June 2010
Expertise: Business development, governance, health, investor relations, leadership and strategy
JOE MADUNGANDABA (63)
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Further information
Deputy Chairman
Qualifications: CPA(SA), MDP
Appointed: 10 June 2010
Expertise: Business development, finance, human resources, investor relations and strategy
GARY ALLEN (57)
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Further information
Qualifications: BCom (Hons), BBus (Hons)
Appointed: 12 September 2019
Expertise: Business development and finance
DR NKATEKO MUNISI (55)
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Further information
Qualifications: MBCHB
Appointed: 7 December 2015
Expertise: Business development and health and safety management
JURIE STRYDOM (46)
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Further information
Qualifications: BBusSCI, Fellow of Institute of Actuaries, CFA Charterholder, MBA (MIT)
Appointed: 1 August 2020
Expertise: Finance and insurance business development
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Nomination Committee | |
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Remuneration Committee | |
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Investment Committee | |
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Social and Ethics Committee | |
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Audit and Risk Committee | |
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Information and Communication Technology | |
Independent Non-executive Directors
BRUNO FERNANDES (53)
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Further information
Lead Independent Director
Qualifications: BCom, BAcc, BCom (Hons) (InvM), CA(SA)
Appointed: 23 November 2018
Expertise: Accounting, advisory-related services, finance, risk management, and mergers and acquisitions
MMABOSHADI CHAUKE (42)
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Further information
Qualifications: BCom, Bachelor of Accountancy (CTA), CA(SA)
Appointed: 1 June 2020
Expertise: Accounting, risk management, governance, finance and auditing
ALICE LE ROUX (47)
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Further information
Qualifications: BComp (Hons), Bachelors (Accounting), CA(SA)
Appointed: 25 May 2020
Expertise: Accounting, risk management, governance, finance and auditing
DR SHIRLEY ZINN (60)
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Further information
Qualifications: BA, HDE, BEd (Hons), MEd, EdM, DEd
Appointed: 23 November 2018
Expertise: Human resources, business leadership and strategy
Executive Directors
AHMED BANDERKER (45)
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Further information
Group CEO
Qualification: CA(SA)
Appointed: 15 December 2015
Expertise: Strategy, mergers and acquisitions and leadership
Committees: Ex-officio on all committees
HANNES BOONZAAIER (47)
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Further information
Group CFO
Qualification: CA(SA)
Appointed: 1 August 2015
Expertise: Finance and investment banking
Committees: Invitee to committees
WILLEM BRITZ (57)
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Further information
Qualifications: BCom, BProc
Appointed: 1 August 2015
Expertise: Business development, governance and compliance, legal and project management
Committees: Invitee to committees
SELLO MMAKAU (47)
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Further information
Group CIO
Qualifications: BCom, MBL, BA
Appointed: 30 November 2016
Expertise: ICT governance and compliance, including strategy and security
Combined Board skill set
Our Board has a unique skill set that enables our Group and its business model to be agile in a volatile economic environment. In terms of skills and expertise, members must have the highest levels of integrity, a deep understanding of governance, appropriate technical, financial and non-financial knowledge, as well as strong interpersonal skills.
Our directors' experience (%)
