ZWELAKHE MNGUNI

EXECUTIVE DIRECTOR

Zwelakhe is the Chief Investment Officer and co-founder of Benguela Global
Fund Managers (Pty) Ltd. He has over 19 years of investment experience. Most
recently, Zwelakhe, spent 3 years as Head of Equities and Portfolio Manager at
Mergence Investment Managers (Pty) Ltd, where he successfully managed the
equity mandates for clients. Prior to Mergence, Zwelakhe was Portfolio Manager
and Equity Analyst at Stanlib, where he managed the Global Science and
Technology Fund as well as co-managed the Stanlib Value Fund.

Prior to this he spent 4 years at Allan Gray as an Equity Analyst. Zwelakhe has an
excellent record as a portfolio manager. Zwelakhe holds a BCom Honours degree in
Financial Management.

COLIN CLARKE

INDEPENDENT NON - EXECUTIVE CHAIRMAN

Colin has extensive experience with listed and multinational organisations. He has served
as a Trustee and Chief Investment Officer for Sishen Iron Ore’s Community Development Trust.
He also held the position of Deputy Director for Trade and Investment at the African America
Institute and Programme Director for the Africa Regional Assistance Electoral Fund, which
was established to assist African countries transition to democracy. In his tenure as Chief
Operating Officer of the National Empowerment Fund SA (2009 to 2010) he headed the
group operations including asset management, marketing and strategy. Colin also has many
years of international legal, private equity and corporate finance experience, gained from
serving in legal counsel and project director positions at global institutions such as BP Amoco
and Lonrho Africa Plc. He is former Chairman of ACPI Investment Managers (SA), a London
based asset management firm. Colin is also currently the Chairman of:

- the Investment Committee of the Sizwe Medical Fund
- the Investment Committee of RH Bophelo; and
- the Compensation Committee of Atlatsa Group Resources

Education: BA (Political Science); MBA, Said Business School, Oxford University; Juris Doctorate,
University of Denver; Advocate, High Court SA

Thuli magubane

INDEPENDENT NON - EXECUTIVE DIRECTOR

Thuli has experience in management consulting, corporate finance and
investment banking having worked for corporates such as Absa Capital
and Investec. She is an entrepreneur whose first start up was focused on
management consulting and has consulted for organisations such as
Vodacom, Tata Africa, City of Johannesburg, and the Steve Biko Foundation.
She has since founded other companies, diversified across investments and
manufacturing. She also boasts extensive experience as an MC, speaker and
facilitator and was the host of 2 radio shows on KayaFM – KayaBizz and
My Money and Me – which dealt with personal finance and investment
matters. Thuli features as a business coach on Making Moves, a TV show on
SABC 1, focused on promoting entrepreneurship.

Thuli holds a BA in Political Science, Postgraduate Diploma in Management
and a Master’s Programme in Leadership and Strategy from Instituto de
Empresa (IE) Business School in Madrid.