African Dawn Capital Ltd. appointed James Slabbert as a nonexecutive director and chairman of the board, with effect from Dec. 6.

Slabbert founded Gowin Pty. Ltd., the holding company of Arvesco 153 Pty. Ltd., which in August entered into an agreement to acquire a 55% stake in African Dawn Capital for a total consideration of 9.4 million South African rand.

As of Dec. 6, US$1 was equivalent to 14.20 South African rand.