Thursday, 29 March 2018
Johannesburg: African Bank announced the appointment of Ms Basani Maluleke as Chief Executive Officer of African Bank Holdings Limited (the Group), effective from 1 April 2018. As noted in the Johannesburg Stock Exchange News Service (SENS) announcement released on 18 October 2017. The current CEO, Mr Brian Riley, retires as CEO with effect from 31 March 2018.
Commenting on Ms Maluleke’s appointment, Mr Louis von Zeuner, the Chairman of the Board said: “The Board welcomes the formal appointment of Basani as CEO, following a successful induction process since July 2017, as previously announced. Basani has been an integral part of African Bank’s turnaround since her appointment as a non-executive in July 2015 and subsequent transition to the executive team on 3 July 2017, serving as Group Executive for Operations. The Board looks forward to working with Basani in her capacity as CEO, as the Group continues to execute on its mission of becoming a successful retail bank.”
“The Board would like to formally extend its appreciation to Brian for his significant contribution in developing the Group strategy and driving its implementation to date.” Mr von Zeuner
“I am optimistic about the future prospects for African Bank, having worked closely with the Executive team for the past several months, as we build on the foundations and continue to deliver on our strategy. We remain committed to delivering on our stated success factors for 2021 and while we recognise that the competition is tough, we have a strong team to meet our stakeholders’ expectations.” said Basani on her appointment.
Ms Maluleke has a B Com LLB (UCT), MBA (Kellogg) and is an admitted attorney. She has over ten years of financial services working experience and has also worked for Edward Nathan Friedland, FirstRand’s RMB division, as well as in various FNB divisions. More recently, she was an executive director of Transcend Capital, a corporate finance business specialising in B-BBEE ownership. African Bank press release.