Vunani Limited announced that with effect from 1 April 2020, it will align its executive management structure with its business growth and succession plans. Ethan Dube will step aside from his position as Chief Executive Officer ("CEO") of the company in order to take up his new position as Deputy Chairman (Executive) to focus his efforts on managing the Private Equity and non-financial services of the business, together with Mark Anderson, an Executive Director of the company and Vunani Capital. Butana Khoza will succeed Ethan, as CEO of Vunani.

Ethan and Butana have worked together since they established Vunani and it had always been the plan that Butana would succeed to the CEO position in time. Butana held the CEO position for Vunani Fund Managers ("VFM") for five years and his designated successor, Ms Snowy Masakale, took on the VFM leadership role effective 2 March 2020, as announced in September 2019.