Salungano Group Limited Board has appointed Mr. Themba Tshikovhi, Ms Sinesipho Maninjwa and Mr. Mzimkulu Malunga as independent non-executive directors of the Company with effect from 1 March 2024. Mr. Tshikovhi is a Chartered Accountant (South Africa) with extensive experience in internal and external audit, financial accounting, corporate governance and risk management, who has served on various boards and board committees of several entities in the private and public sectors. His previous managerial and leadership roles include, amongst others, audit manager at Deloitte, projects manager at Standard Bank, founding partner of KMMT (which merged with KPMG in 2000), audit and risk committee chairperson and membership roles at the Wholesale and Retail Sector Education and Training Authority, SRHR Trust and the South African Qualifications Authority and chairperson of the remuneration committee of Royal Energy Proprietary Limited.

Ms Maninjwa is a Chartered Accountant (South Africa) with more than a decade of post-qualification experience, primarily gained in the financial services sector. Her expertise includes corporate and project financial advisory services, development finance, principal investments, project development, private equity and asset management. Ms Maninjwa is currently the Head of Operational Due Diligence and External Platforms at Stanlib Multi Manager and INN8 Invest.

Some of her previous positions include commercial credit manager at FirstRand Group, post-investment associate at the National Empowerment Fund, corporate finance and principal investment analyst at Tamela Holdings, executive associate at Lebashe Investment Group and senior associate at Cresco Group. Mr. Malunga holds an Executive MBA from the University of Cape Town and has 35 years of experience in the media industry. He previously served as non-executive director at Brand South Africa and South African Airways.

He chaired the human resources, remuneration and social and ethics committee at Brand South Africa and the ad hoc committee on stakeholders and communications at South African Airways. He was Group CEO of Arena Holdings until August 2023, an executive director and publisher at UMA Media until 2021 and a director and previous chairperson of the D Group. He is currently the director of Raoha Afrika Proprietary Limited, the owner of two Postnet Franchises in Johannesburg.

Earlier in his career, he held senior editorial positions at, amongst others, Business Day, Financial Mail and the Sowetan. Changes to the composition of board committees: Following their appointments to the Board: Mr. Tshikovhi will be appointed as chairperson of the audit, risk and compliance committee and a member of the nomination committee; Ms Maninjwa will be appointed as chairperson of the remuneration committee and a member of the audit, risk and compliance and nomination committees; and Mr. Malunga will be appointed as chairperson of the social and ethics committee and a member of the audit, risk and compliance and remuneration committees. Accordingly, the Board committees will be comprised as follows: Audit, risk and compliance committee: Mr. Tshikovhi (Chairperson); Ms Maninjwa; Mr. Malunga; Remuneration Committee: Ms Maninjwa (Chairperson); Dr. Humphrey Mathe; Mr. Eric Mzimela; Mr. Malunga; Nomination Committee: Dr. Humphrey Mathe (Chairperson); Mr. Tshikovhi; Ms Maninjwa; Social and Ethics Committee: Mr. Malunga (Chairperson); Mr. Cecil Maswanganyi; Mr. Eric Mzimela; Mr. Robinson Ramaite; Mr. Thivha Tshithavhane.