Home Affairs director-general Mkuseli Apleni has resigned from the government department to join Discovery Bank in an executive role.
Home Affairs minister Malusi Gigaba confirmed Apleni’s departure at a press briefing on Monday, thanking him for his service.
Apleni will leave at the end of July, having been appointed DG for the department in April 2010.
Discovery, meanwhile, has already begun live-testing its banking capabilities, testing “system infrastructure, operating processes and regulatory engagement”.
The insurer was expected to launch its proposed banking offering to the public in the second half of 2018.
Spend to date is R1.2 billion and this is expected to reach R1.5 billion by launch, Discovery said in a statement in February.
Discovery Bank was granted a banking licence from the Registrar of Banks on 16 October 2017.