Wrap Text
Changes to the board of directors and functions of directors
ALTVEST CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2021/540736/06)
LEI Number: 37898OOE85B7YW5EEW57
Ordinary Share Code: ALV ISIN: ZAE000337051
Preferred A Ordinary Share Code: ALVA ISIN: ZAE000338422
Preferred B Ordinary Share Code: ALVB ISIN: ZAE000338430
Preferred C Ordinary Share Code: ALVC ISIN: ZAE000338448
("Altvest" or "the Company")
CHANGES TO THE BOARD OF DIRECTORS AND FUNCTIONS OF DIRECTORS
Resignation of directors
Shareholders are advised that in accordance with Altvest's director rotation policies, Joanne Baynham,
Fay Mukaddam and Henk Barnhoorn have informed Altvest that they will not make themselves
available for re-election at Altvest's upcoming annual general meeting and will resign from the board
of directors of Altvest (and all committees on which they served) with effect from 28 February 2025.
The Company expresses its sincere appreciation to Joanne, Henk, and Fay for their dedicated service,
strategic contributions, and leadership during Altvest's formative years. Their guidance has been
instrumental in shaping Altvest's mission to democratize access to alternative investments and provide
innovative capital solutions for SMEs and investors.
Appointment of Lead Independent Non-Executive Director and board refresh
Given the strategic importance of ACOF (Altvest Credit Opportunities Fund) to the group and
its material revenue contribution, Altvest is pleased to announce that the Chairperson of ACOF, Ms
Norma Sepuma will be appointed to the Altvest Board as Lead Independent Non-executive Director
and member of the Audit and Risk Committee with effect from 1 March 2025. This appointment
underscores the critical role ACOF plays within the broader Altvest group and ensures strong oversight
as we continue to expand our SME funding initiatives
Norma Sephuma is a highly accomplished finance and public policy professional with extensive
experience across financial institutions, economic policy, and governance. She has held key positions
within the Bank of Botswana, contributing to financial oversight and regulatory frameworks. In
addition, she served as the Acting Head of Privatisation and Restructuring at the Public Enterprises
Evaluation and Privatisation Agency (PEEPA), where she played a critical role in shaping Botswana's
privatisation strategy.
Norma has further strengthened her expertise in development finance and public-private partnerships
(PPPs) through various roles, including PPP Officer at the SADC Development Finance Resource
Centre and Regional PPP Consultant for the African Development Bank. Her strategic insight into
economic development and financial management was further honed through her tenure
as Botswana's Presidential Advisor for Economic Affairs, where she provided high-level policy
guidance on national economic priorities.
Her academic credentials include a BA in Economics and Statistics and an MBA with a specialization in
Financial Management, equipping her with a strong foundation in financial analysis, risk management,
and corporate strategy.
As an Independent Non-Executive Director of Altvest Capital and a member of the Audit and Risk
Committee, Norma brings a wealth of experience in governance, economic policy, and financial
oversight. Her deep understanding of alternative investments, financial structuring, and economic
development positions her as a key contributor to Altvest's mission of democratizing
investments and expanding access to capital for SMEs. Her expertise will be invaluable in ensuring
sound financial governance, regulatory compliance, and risk mitigation strategies across Altvest's
portfolio of investments.
As Altvest continues its evolution as a leading platform for alternative investments, venture capital,
and SME funding, Altvest is implementing a targeted skills assessment and board refresh to align
leadership with the Company's future growth strategy. This review will ensure that Altvest is optimally
positioned to drive new market opportunities, strengthen governance, and expand its listed
investment offerings. A further announcement in this regard will be released on SENS in due course.
Johannesburg
28 February 2025
Designated Advisor
Questco Corporate Advisory
Date: 28-02-2025 09:00:00
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