Shoprite Holdings Adds Industry Experts to Board: Mathebula and Maseko Join as Independent Directors

Shoprite Holdings Limited, a prominent retail company based in South Africa, has made a significant addition to its Board of Directors. In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, the company announced the appointment of Hlengani Mathebula and Sipho N Maseko as independent non-executive directors, effective from June 27, 2023.

Hlengani Mathebula brings with him a wealth of experience and a strong academic background. Holding a Bachelor of Arts (Honours, Theology), a Master of Management in Entrepreneurship and New Value Creation, as well as a Doctor of Philosophy (PhD), Mathebula has established himself as an accomplished executive. Having previously worked for the South African Revenue Service (SARS) and held various positions in prominent banks such as FNB, ABSA, and the South African Reserve Bank, Mathebula is currently serving as a Professor of Strategy, Finance, and Investment at the University of Limpopo. Additionally, he holds several important positions, including Chairman of the Media Development and Diversity Agency, Chairman of the Black Business Executive Circle, and an independent non-executive director of the Health Professionals Council of SA. Mathebula’s extensive board experience includes BMW SA, Eskom Pension Fund, African Leadership Group, and the Black Business Council.

Sipho N Maseko, the second appointee, is a distinguished professional in his field. Holding a Bachelor of Arts and a Bachelor of Laws (LLB), Maseko has acquired valuable experience throughout his career. After completing his articles at Werkmans, he held positions at the Department of Trade and Industry and the Financial Services Board. Maseko spent over a decade with BP South Africa, where he served as CEO for BP Africa. Subsequently, he took on the role of Chief Operating Officer of Vodacom South Africa and later assumed the position of CEO at Telkom, where he served for nine years. With an impressive list of accomplishments, Maseko has also held key leadership roles, including Chairman of SAPREF and non-executive directorships at Afrox Ltd, Gyro Group, and Trudon Pty Ltd. Currently, he acts as an advisory board member for the Centre for Development and Enterprises, Airlink, and Heidrick and Struggles.

The addition of Hlengani Mathebula and Sipho N Maseko to the Shoprite Holdings Board of Directors is expected to bring significant value to the company. Their diverse backgrounds and extensive expertise in strategy, finance, investment, law, and corporate leadership will undoubtedly strengthen the Board’s capabilities. This move reflects the company’s commitment to maintaining high standards of corporate governance and further enhancing its growth trajectory.