Sentinel Finco (RF) Ltd., a South African debt issuer linked to non-mortgage home lender Sentinel Homes, has appointed Phelia Loubser as chairperson of its Audit Committee following the death of its previous chairperson, Brian Smith.

In a notice published on October 20, 2026, the company said Loubser’s appointment took effect immediately. She is an existing independent non-executive director and has served on the Audit Committee since January 2025.

Phelia Loubser is a chartered accountant with more than 15 years of experience in group financial management and company administration. Her expertise spans capital markets, debt-issuer structures, security-related special-purpose vehicles and trusts.

Sentinel Finco strengthens audit committee

Alongside Phelia Loubser’s appointment, Sentinel Finco confirmed that Mpho Phillemon Ledwaba had joined its Audit Committee, effective October 19, following his appointment as an independent non-executive director announced a day earlier.

The committee now comprises Loubser as chairperson, Brendan Harmse and Ledwaba, all independent non-executive directors.

The appointments follow the death of Smith, whose passing the company announced on October 12. He died on October 9, with the board expressing condolences to his family, friends and colleagues.

Brian Smith brought extensive audit experience

Smith was a retired senior audit partner at Deloitte, where he served as lead client service partner for several major listed companies. His career covered auditing, financial reporting, corporate governance, structured finance and regulatory oversight.

He previously chaired the Investigations Committee of South Africa’s Independent Regulatory Board for Auditors and served on the board of Habib Bank, chairing several of its subcommittees.

Smith also held directorships across structured-finance vehicles, including securitisations and exchange-traded funds, bringing extensive financial oversight experience to Sentinel Finco’s governance structure.

Sentinel Finco finances loan assets

Sentinel Finco, a South African debt issuer financing income-generating loan assets, operates as a ring-fenced special-purpose vehicle that acquires income-generating loan assets from Sentinel Homes Proprietary Ltd. and issues interest-bearing securities backed by those assets. The structure connects the underlying loan portfolio to the securities issued to investors.

Absa Bank, through its Corporate and Investment Bank division, serves as the issuer’s debt sponsor. Separately, Crede Investor I Bridge to Bond (RF) Proprietary Ltd. announced Smith’s death on October 12, confirming that he had served as its board chairperson and an Audit Committee member.

Neither issuer provided further details on succession arrangements beyond Sentinel Finco’s announced appointments. The changes mark a governance transition for two South African debt issuers following the loss of a director with extensive experience in audit oversight and structured finance.