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African Bank new CE looks forward steering the organization in a new direction

THERE'S A new sheriff in the banking sector, and its a black woman.

African Bank new CE looks forward steering the organization in a new direction

A smile worth billions. At the helm AB new CEO Basani Maluleke looks forward to new lease of life.

Basani Maluleke, an attorney at Law, has been appointed the new chief executive at African Bank Holdings Limited Group.

Maluleke who has been non- executive board member at African Bank since 2015, takes over from CE Brian Riley, who has been at the helm of the bank, having overseen changes the institution has faced from liquidation to where it is today.

She noted; “I am encouraged with the progress we have made over the past several months, to reposition African Bank into a competitive retail Bank. Our executive team is supported and challenged by an independent and diversely skilled board, a culture which bodes well for building solid checks and balances across the business”.

We know that the Banking landscape is competitive and that our customers have a wide range of Banks to choose from. We think My World™, which we will be updating the market on in future announcements, will add the value and price point that our customers demand”, says Maluleke.

Chairman of the Board and former Absa executive Louis von Zeuner, noted: “The Board welcomes the formal appointment of Basani as CEO, following a successful induction process since July 2017.

Basani has been an integral part of executing African Bank’s turnaround strategy since her appointment as a non-executive in July 2015 and subsequent transition to Group Executive for Operations on 3 July 2017. We look forward to working with her in her capacity as CEO”.

Maluleke has a thick history within the financial sector having worked for top performing organizations such as Edward Nathan Friedland, FirstRand’s RMB division as well as in various FNB divisions and an executive director of Transcend Capital, a corporate finance business specialising in B-BBEE ownership.

Riley’s retirement took effect March 31 and Maluleke resumed her responsibilities on April 1 2018.

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