Remuneration Committee

The Remuneration Committee’s mandate is to ensure that remuneration supports the strategic aims of the business and that packages are sufficient to recruit, motivate and retain senior executives while complying with regulatory and governance principles.

" We recognise that intellectual capital remains a critical source of a company's value."

Composition

Member Number
of meetings
Meeting
attendance (%)
Joe Madungandaba Non-executive Director (Chairman) 5/5 100
Shirley Zinn Independent Non-executive Director 2/3 67
Ronnie Wa-Mundalamo Independent member 4/5 80
Other invitees    
Ahmed Banderker* Group CEO and Executive Director 3/5 60
Willem Britz Executive Director 1/5 20
* Ahmed Banderker attends the committee in his ex-officio capacity as the Group CEO from 1 April 2019.

Independence of committee: 100%

Key matters the committee focused on

Agree and develop the Group's general policy on executive and senior management and employee remuneration. This general policy will be referred to shareholders for such shareholders to pass a non-binding advisory vote on AfroCentric's annual remuneration policy

Approves the remuneration report for purposes of disclosure as per King IV

Determine the specific remuneration packages for Executive Directors of the Company

Identify the criteria necessary to measure the performance of Executive Directors in discharging their functions and responsibilities

Review (at least annually) the terms and conditions of Executive Directors' service agreements, taking into consideration information from comparable companies, where relevant

 

All rights Reserved.