African Bank appoints new group CEO and promises new family product with ‘near free pricing’

African Bank has announced that Basani Maluleke has been appointed as group CEO effective 1 April 2018.

This follows the previously announced retirement of current CEO, Brian Riley on 31 March 2018, it said on a statement on Thursday (29 March).

“Maluleke 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,” the bank said.

Speaking on her appointment, Maluleke said that she was most excited about the launch of African Bank’s transactional product offering, ‘My World’ which has already been introduced to bank staff.

Expected to launch later this year, Maluleke said that ‘My World’ will offer customers a unique family product that is supported by digital convenience and ‘near free pricing’.