AFROCENTRIC INVESTMENT CORPORATION LIMITED - Changes to the board and its committees

Changes to the board and its committees

AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
("the Company" or "AfroCentric" or "the Group")


CHANGES TO THE BOARD AND ITS COMMITTEES


In compliance with paragraph 3.59 of the JSE Listings Requirements and pursuant to its
commitment to bolster governance structures, the Board of Directors of the Company ("the
Board") hereby advises shareholders of the following changes to the Board and its
committees.

The Board is pleased to announce the appointment of Ms. Charlotte Mokoena as
an Independent Non-Executive Director of the Company, effective 1 October 2025.

Ms. Mokoena will also serve as a member of the following Board committees:

   •   Remuneration Committee, replacing External Member, Mr. Ronnie Wa-Mundalamo;
   •   Nominations Committee, replacing the Chief Executive Officer, Mr. Gerald Van Wyk;
       and
   •   Social and Ethics Committee, replacing the Executive Director of Medscheme
       Holdings Proprietary Limited (a subsidiary of the Company), Mr. Aklaaq Mahmood.

Ms. Mokoena's experience spans over 25 years in Strategic Human Resources,
Organisational Capability Development, Leadership Development, Stakeholder Relations,
Corporate Reputation Management, Customer Experience Management, Corporate Social
Impact (CSI), Management Consulting, and the Not-for-Profit sector in education and health.

Ms. Mokoena has held various management, executive leadership and C-suite roles in
different sectors in large listed multi-national companies. Her career has been across various
industries including, but not limited to chemicals and energy, telecommunications, agri-
processing and fast-moving consumer goods company in beverages.

Ms. Mokoena is a former President and Chairman of the HR Professionals Association and
Non-Executive Chairperson of Sasol Inzalo Public and Sasol Inzalo Public Funding. She is a
member of the International Women's Forum South Africa, Board member of the National
Business Initiative, Deputy Chairman of the North-West University Business School's Advisory
Board and co-founder of Non-Profit organisation - CareForCarers.

She holds Master of Commerce (MCom) in Leadership from University of KwaZulu-Natal,
Postgraduate Diploma in Training and Performance Management, Bachelor of Arts Honours
from University of Johannesburg and a Bachelor of Social Science from North-West University

The Board welcomes Ms. Mokoena and looks forward to her meaningful contribution to the
Company's governance and strategic direction.
The Board extends its sincere appreciation to Mr. Wa-Mundalamo for his dedicated service
and valuable contributions to the Company and its governance structures.

Mr van Wyk will continue to serve as the Chief Executive Officer of the Company and will
participate on all Board committees as an invitee. Mr. Mahmood will continue to serve as an
Executive Director of Medscheme Holdings Proprietary Limited.



Lebohang Mpumlwana
Group Company Secretary and Legal Counsel

28 August 2025

JSE Sponsor to AfroCentric
Questco Corporate Advisory Proprietary Limited

Date: 28-08-2025 02:00:00
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