Basani Maluleke, the first black woman to lead an SA bank, resigns as African Bank CEO

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African Bank's CEO Basani Maluleke will be stepping down in April.
African Bank's CEO Basani Maluleke will be stepping down in April.

Basani Maluleke, who was the first black woman to lead an SA bank, has resigned as CEO of African Bank. 

The bank on Monday issued a shareholder notice that Maluleke will also be stepping down from her roles as an executive director of African Bank and African Bank Holdings Limited. She will serve her notice period until 30 April 2021.

"Basani is stepping down to pursue other career opportunities," the notice read.

In the three years Maluleke was CEO, she contributed to the developing and rolling out of the omni-channel, which allowed the bank to offer a "digital experience" to its customers and employees.

Maluleke also contributed towards increasing the bank's retail investments and rehabilitating its brand, following its collapse back in 2014.

Gustav Raubenheimer has been appointed interim CEO – subject to approval by the Prudential Authority. Raubenheimer is currently the chief financial officer and member of the boards.

"The boards will begin the executive search process for a new CEO," the notice read.


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