Board of directors of the Spear Reit Limited announced that Bongani Raziya has been appointed as an independent non-executive director, and as member of the social and ethics, audit and risk, remuneration and investment committees of Spear, with immediate effect. Bongani is a lawyer with more than 20 years' experience in the retail sector. He currently holds various board positions in the oil, gas and mining sectors and has established various highly successful ventures as a dynamic entrepreneur with a good understanding of the general real estate sector, given the direct real estate investments he has made across the Western Cape over the last decade.

Bongani is the founder and a director of Rwenzori Rare Metals which, through an international consortium made up of Rwenzori Rare Metals, Australian and Ugandan mining investors, owns the Makuutu rare earth mine in Uganda. He is also the founder and largest independent shareholder of Burgan Cape Terminals and co-establisher of Wonderfontein Coal and founder and a director of Manaus Capital a BEE real estate investment holding company.