Dipula Income Fund Limited announced that Zaida Adams, Nthime Khoele and Kevin Teeroovengadum have been appointed to the board of directors of Dipula as independent non-executive directors with effect from 1 February 2023. Zaida is a qualified chartered accountant with 20 years financial and investment experience spanning a diverse range of sectors including property, banking, food and agriculture, private equity and sport and events. Zaida has held several executive roles in the property sector and was previously financial director of SA Corporate Real Estate and more recently chief financial officer ("CFO") of Investec Property Fund.

Zaida also served on the board of Liberty 2 Degrees as an independent non-executive director and was chairperson of the audit and risk committee. Zaida is currently the CFO of Africa Cricket Development Proprietary Limited, better known as SA20, the newly formed T20 cricket league in South Africa. Nthime is a co-founder and managing partner of Bopa Moruo Private Equity, a private equity investment management firm managing over R1.1 billion of equity capital across its private equity funds.

Prior to founding Bopa Moruo, Nthime was a director of Brait's private equity business, which he first joined in 2000 after starting his career at RMB Asset Management. Nthime also serves on the boards of various Bopa Moruo portfolio companies, including as chairman of Respublica Group and as a non-executive director of WACO International, Skynet Worldwide Couriers International (SA and UK) and One Digital Media, as well as on the boards of two non-profits, as chairman of the Independent Schools Association of Southern Africa NPC and as director of the St Mary's School Foundation NPC. Kevin has a BSc in Economics, MBA and MSc in Finance from Leicester University, UK.

He previously worked for KPMG, Deloitte and Ernst & Young in corporate finance and strategic consultancy before moving to Loita Capital Partners Group based in South Africa. He joined Actis, the leading emerging market private equity firm, in 2007 as part of their Africa real estate team where he led a number of transactions and exits. He was the co- founder and CEO of AttAfrica in 2013, which became the premier investor of shopping malls in Africa.

He is a frequent writer and speaker at conferences globally and currently serves on numerous boards of companies in Mauritius and advises a number of companies across Africa. He is also the co-founder of ProptechAfrica. Zaida, Nthime and Kevin will replace current board members Younaid Waja, Elias Links and Syd Halliday, who will all retire on 31 May 2023.

The board would like to recognise the retiring directors for having served the board with distinction over the past decade, guiding Dipula through several significant and complex challenges. The board thanks them for their service and dedication to Dipula and wishes them the very best in their future endeavours.