Basani Maluleke has resigned as African Bank’s Chief Executive Officer and as an executive director of African Bank and African Bank Holdings Limited Boards of Directors. Photo: Vestor
Basani Maluleke has resigned as African Bank’s Chief Executive Officer and as an executive director of African Bank and African Bank Holdings Limited Boards of Directors. Photo: Vestor

African Bank CEO Basani Maluleke resigns

By Staff Reporter Time of article published Jan 25, 2021

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DURBAN – Basani Maluleke has resigned as African Bank’s chief executive and as an executive director of African Bank and African Bank Holdings Limited Boards of Directors.

Maluleke who is stepping down to pursue other career opportunities will serve out her notice period until April 30.

The African Bank Board said that it appreciates Basani’s significant contribution in leading the transformation at African Bank to become a diversified and investable retail bank and wishes her well with her future endeavours.

The board has appointed, subject to approval by the Prudential Authority, Gustav Raubenheimer as interim chief executive. Raubenheimer is currently the Chief Financial Officer of African Bank and ABHL and is a board member of the Boards.

Chairman of the board, Thabo Dloti said, “We are confident that Gustav provides a safe and skilled pair of hands, together with the rest of the executive team, to steer the Group until a permanent replacement is found. We thank him for taking up the interim role as well as the rest of the capable executive team”.

"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. I thank the Board for their good wishes. My best wishes to all our staff, customers, partners and other stakeholders of African Bank,“ Maluleke said.

“The executive team, under the leadership of Basani, have built a solid foundation on which the Group can continue to “advance the lives” of our stakeholders, providing innovative and value-added financial services and drive growth,“ Dloti said.

The board will begin the executive search process for a new chief executive.

BUSINESS REPORT ONLINE

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