Basani Maluleke resigns as African Bank CEO

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Basani Maluleke. Photo: Supplied
Basani Maluleke. Photo: Supplied

Basani Maluleke, the first black woman to head up a South African bank, is stepping down from her position

Basani Maluleke has resigned from her position as Chief Executive Officer at African Bank to pursue other career opportunities. She will be serving out her notice until 30 April 2021. 

In a statement released by the bank, the Board expressed how appreciative they are of Maluleke's significant contribution in leading transformation and making the bank a diversified and investable retail bank. 

“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,” the statement said.

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
Basani Maluleke, outgoing CEO of African Bank

Maluleke said that it's been an honour serving at the helm of the bank. 

“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,” Maluleke said in a statement.

“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.”

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Mr Gustav Raubenheimer (currently the bank’s Chief Financial Officer) has since been appointed as interim CEO, subject to approval by the Prudential Authority. 

Here’s what Thabo Dloti, Chairman of the Board, had to say about the new appointment: 

“We are confident that Gustav provides a safe and skilled pair of hands, together with the rest of the executive team, to steer the Group until a permanent replacement is found. We thank him for taking up the interim role as well as the rest of the capable executive team.” 

In the meantime, the bank has expressed that the board will begin the executive search process for a new CEO. 

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