Basani Maluleke steps down as CEO of African Bank Group

SOUTH AFRICA – Basani Maluleke has resigned as the Chief Executive Officer of African Bank Group and as an executive director of African Bank and African Bank Holdings Limited boards of directors, to pursue other career opportunities, the group has said in a statement.

Maluleke will serve out her notice period until April 30, 2021, during which time she will be available to ensure a smooth hand-over process.

The board expressed its appreciation of Basani’s significant contribution in “leading the transformation at African Bank to become a diversified and investable retail bank and wishes her well with her future endeavours.

Basani’s contributions include amongst others developing and rolling out of the Omni-channel which enables the bank to offer a digital experience to customers and employees, increasing the bank’s retail investments and assisting to rehabilitate the African Bank brand.”

“I am extremely proud of what we have achieved over the last three years and grateful for the dedication and hard work of our people. It has been an honour to serve as the CEO of African Bank during an important phase of the organisation’s transformation”

Basani Maluleke – Outgoing CEO, African Banking Group

Current CFO Gustav Raubenheimer has been appointed as interim CEO subject to approval by the Prudential Authority.

“I am extremely proud of what we have achieved over the last three years and grateful for the dedication and hard work of our people. It has been an honour to serve as the CEO of African Bank during an important phase of the organisation’s transformation. I thank the board for their good wishes. My best wishes to all our staff, customers, partners and other stakeholders of African Bank,” Basani said.

Board chairman Thabo Dloti added by saying “The executive team, under the leadership of Basani, has built a solid foundation on which the group can continue to advance the lives of our stakeholders, providing innovative and value-added financial services and drive growth.  We are confident that this team will continue to take the African Bank forward, with the support of a resilient and engaged staff complement.”

The board adds that it will begin the executive search process for a new CEO.

African Bank is due to present its annual financial results for the year ended September 30, 2020 at 10am next week.

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