African Bank chief executive steps down

 ·25 Jan 2021

African Bank has on Monday (25 January) announced that Basani Maluleke has resigned as the group’s chief executive officer and as an executive director, to pursue other career opportunities.

Maluleke will serve out her notice period until 30 April 2021, during which time she will be available to ensure a smooth hand-over process, the bank said.

The bank noted her contributions over her leadership period, including among others, the development 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 board at African Bank has appointed, subject to approval by the Prudential Authority, Gustav Raubenheimer as interim CEO. He is currently the chief financial officer of African Bank and ABHL and is a board member of the boards.

“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. It has been an honour to serve as the CEO of African Bank during an important phase of the organisation’s transformation,” Maluleke said.

The board is set to begin the executive search process for a new chief executive, ahead of the presentation of its annual financial results for the year ended September 2020, on Tuesday (26 January).

Read: Business Talk – In conversation with Basani Maluleke

Show comments
Subscribe to our daily newsletter