AFRICAN Bank said on Monday Basani Maluleke has resigned as its chief executive officer. Maluleke, also the first Black woman to lead a major lender in South Africa, will leave on April 30 “to pursue other career opportunities,” the company said in a statement Monday.
Chief Financial Officer Gustav Raubenheimer will take over as acting CEO.
South Africa’s financial sector leadership ranks have been dominated by White men, and it’s just in the past decade that the lenders have start to try and rectify the imbalance. The only other woman besides Maluleke to lead a bank as CEO is Maria Ramos, who was at the helm of Absa Group Ltd. for a decade until February 2019.
African Bank’s strategy to get through the Covid-19 pandemic will remain in place, Chairman Thabo Dloti said in an interview, with a fundraising and finding a new CEO among the priorities. Shareholders agreed last
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