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Sanlam Limited: Change in nature of directorship

24 April 2008 Sanlam

In compliance with section 3.59 (c) of the Listings Requirements of the JSE Limited, the Board of Directors of Sanlam Limited is pleased to announce the appointment of Ms Raisibe Morathi (pictured right) (38) as an executive director on the Board of Sanlam Limited and Sanlam Life Insurance Limited from 1 May 2008. She has been an independent non-executive director on these Boards since 2006.

As a member of the executive committee of Sanlam Limited, Ms Morathi’s portfolio as Chief Executive: Group Services will include overall responsibility and strategic direction of central group services. These include HR, IT, marketing, communications, public affairs and other centralized group support functions.

Ms Morathi, a Chartered Accountant, spent the last seven years of her career at the Industrial Development Corporation (IDC) where she held the positions of Chief Investment Officer, Chief Operating Officer and acting Chief Executive. She was in that period also seconded as economic advisor to the Presidential Offices where she was also involved with the Government’s economic strategies. Prior to the IDC and after completing her articles in 1994, Ms Raisibe was a project and corporate finance consultant at Nedcor Investment Bank and HSBC Simpson McKie and a senior manager, private equity, at African Merchant Bank.
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