AfroCentric Group Announces Leadership Shift After Sanlam Acquisition

  • AfroCentric Investment Corporation Limited undergoes board and leadership changes following the acquisition by the Sanlam Group.
  • CEO Ahmed Banderker steps down and rejoins Sanlam, while Gerald van Wyk is appointed as CEO Designate, set to assume the role of Group CEO.
  • Andrew Schwulst joins as the new CEO of Medscheme, bringing extensive experience in the healthcare industry and a deep understanding of the sector.


AfroCentric Investment Corporation Limited made significant changes to its board and leadership team following the successful acquisition of a controlling stake by the Sanlam Group. These changes mark a significant milestone in AfroCentric’s journey to extend high-quality healthcare solutions to its customers and establish itself as a prominent player in the industry.

Ahmed Banderker, the current CEO of AfroCentric Group, has decided to step down from his position and rejoin the Sanlam Group at its Cape Town headquarters, effective from 1 November 2023. Ahmed’s warm and approachable leadership style has been instrumental in AfroCentric’s growth and success, particularly during the challenging COVID-19 period. He played a pivotal role in overseeing the successful conclusion of the Sanlam transaction.

The AfroCentric Group expresses its gratitude to Ahmed for his exceptional contributions and wishes him well in his new role at Sanlam. To ensure a smooth transition, Gerald van Wyk has been appointed as CEO Designate, effective from 1 August 2023. Gerald will work closely with Ahmed to ensure a seamless handover and will assume the role of Group CEO on 31 October.

Gerald brings with him a wealth of experience in the financial services industry, having held various key positions throughout his career. His impressive track record includes serving as CEO of Santam Client Solutions, as well as holding executive roles such as Executive Head of Strategic Business Development and Head of Market and Business Development at Santam. Additionally, he has held leadership positions at Discovery Insure, Mutual & Federal, and Hollard, among others. Gerald’s extensive network and relationships across Southern Africa will play a vital role in driving AfroCentric’s growth.

In addition to the CEO transition, AfroCentric Group has announced the appointment of Andrew Schwulst as CEO of Medscheme, a major subsidiary of the company. Andrew brings more than 12 years of experience as CEO of Liberty Health, along with a deep understanding of the sector and valuable insights. His expertise in the healthcare industry and extensive global leadership experience will be crucial in delivering AfroCentric’s health strategy.

Throughout his career, Andrew has held various senior leadership roles, including directorships within the Liberty Health group of companies. He has also worked with prominent private hospital groups, including two years in Australia and ten years with the Netcare group in South Africa.