The board of directors of Vunani Limited announced the changes to the management and operational structure of the Group, effective 13 April 2023. The changes have been made possible by the Group's achievement of the medium-term strategic objectives communicated to shareholders in April 2020, regarding the restructuring of its financial services businesses and principal investment holdings, to unlock value for shareholders. The restructuring has been a resounding success and the Board would like to announce further changes designed to consolidate the achievements, while enhancing the resources available to certain businesses to ensure their growth trajectory is sustained.

Accordingly, with effect from 13 April 2023, Butana Khoza (Butana) will relinquish his position as Group Chief Executive Officer (GCEO) of the Group to provide much needed leadership as CEO of the Group's South African fund management business, Vunani Fund Managers ("VFM CEO"). Prior to being appointed GCEO Butana was VFM CEO between July 2014 and February 2020, a period commensurate with an over threefold growth in the business. Executive Deputy Chairman, Ethan Dube ("Ethan"), will revert to GCEO with effect from 13 April 2023, a role he previously held from inception of the Group, the origins of which date back to 1998.

Ethan, Butana and Mark Anderson ("Mark"), CEO of Vunani Capital Partners, will remain executive directors of the Board and comprise the Group Exco, together with Tafadzwa Mika, Group CFO.