| Fri 7 Mar 2025, 16:31 | | ABSA GROUP LIMITED - Changes to Absa Group board and committees |
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Changes to Absa Group board and committees
ABSA GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1986/003934/06)
JSE share code: ABG
ISIN: ZAE000255915
Bond issuer code: ABGI
("Absa Group" or "Group")
CHANGES TO ABSA GROUP BOARD AND COMMITTEES
In accordance with paragraphs 3.59 of the Equity Listings Requirements and 6.39 of the Debt Listings
Requirements of the JSE Limited, shareholders are informed that Zarina Bassa and Sindi Zilwa have been
appointed as independent non-executive directors of Absa Group with effect from 1 April 2025.
Zarina is an experienced business executive and leader, having trained as a chartered accountant in the
initial stages of her career. She spent 17 years in professional financial services with Ernst & Young (EY)
in South Africa and the United Kingdom, six years as an executive in retail and private banking and wealth
management at Absa Group, and 16 years as a non-executive director including at Kumba, Vodacom SA,
Mediclinic and the Financial Services Board, amongst others, and Woolworths Holdings and Investec
Group, where she was the lead independent director. Zarina is currently a director of Gold Fields Limited
and the JSE Limited.
Zarina holds a B Acc and post graduate diploma in Accounting from the University of Durban Westville, as
well as a CA (SA) qualification.
Sindi is a Chartered Director and has spent almost 30 years as a director across a variety of sectors and in
various governance roles. She was South Africa's Business Woman of the Year in 1998. She co-founded
Nkonki in 1993 and was with the firm throughout its evolution, including during the merger with Sizwe
Ntsaluba (1996-2002). Subsequently, she led the firm as Chief Executive Officer from 1998 until her
retirement in October 2016. Her current listed company boards include Sibanye-Stillwater Limited, Metrofile
Limited and Delta Property Fund.
In 1990, Sindi became the second black woman to qualify as a Chartered Accountant. She holds a B Com
and B Com (Hons) degree from the University of South Africa (Unisa), an advanced diploma in Financial
Planning from the University of the Free State an Advanced Tax Certificate from Unisa. Sindi has an
Advanced Diploma in Banking from Rand Afrikaans University (now University of Johannesburg). Sindi
has also been awarded a Certificate: Cybersecurity: Managing Risk in the Information Age from Harvard in
January 2024. Sindi's former board memberships include Discovery Holdings, Massmart Holdings, Aspen
Pharmacare, Redefine Properties and Anglogold Ashanti. Sindi is a published author of two books, 'The
Audit Committee Effectiveness Model' (2013) and 'The Board Committee Effectiveness Model' (2016).
Both Zarina and Sindi will become members of the of the Group Audit and Compliance Committee. Zarina
will also become a member of the Group Remuneration Committee and the Group Credit Risk Committee
and Sindi of the Group Information Technology Committee, Group Risk and Capital Management
Committee, and Group Social Sustainability and Ethics Committee.
Johannesburg
7 March 2025
Enquiries:
Nadine Drutman
+27 (0) 11 350 5347
E-mail: Nadine.Drutman@absa.africa
Lead Independent Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited
Joint Sponsor:
Absa Bank - Corporate and Investment Bank
Date: 07-03-2025 04:31:00
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