The board of directors of AfroCentric Investment Corporation Limited announced that Mr. Gary Allen has resigned from the board, with immediate effect. The board also announced that Mr. Paul Hanratty has been appointed to the company board as a non-executive director with immediate effect. Mr. Hanratty is the CEO of Sanlam Limited and has over 30 years' experience in insurance, asset management, wealth management and banking in Africa, Europe, the UK, the USA and India.

He served as Chairman and CEO of a number of UK, European and South African financial services businesses, as well as a non-executive director of a number of financial services businesses and a major listed telecoms company. The board hereby further announced that Ms. Marinda Dippenaar has been appointed to the company board as a non-executive director with immediate effect. Ms. Dippenaar has been the Deal Executive of African Rainbow Capital (ARC) since 2017.

Her role includes investment execution and portfolio management primarily in ARC Financial Services. She serves on the boards of a number of investee companies.