The African Bank board and executive team are grateful to Louis for his considerable contribution in stabilising and right-sizing the traditional credit business. Photo: Simphiwe Mbokazi/African News Agency (ANA)

CAPE TOWN – Louis von Zeuner has resigned as a non-executive director and chairperson of the boards of African Bank and African Bank Holdings, to join the board of a company in the financial services industry.

Louis joined the bank and group boards as chairperson on June 24, 2015. He was instrumental in the recruitment and establishment of a well-qualified board and contributed to the sound governance structures the group consistently upholds. He also oversaw the successful launch of the new African Bank on April 4, 2016.

Louis commented, “I am proud to have contributed to the Bank’s successful journey over the past three years. The board and executive team have built solid foundations and have reported steady growth since the launch in 2016.

“I am confident that I leave a diverse and capable team, to continue the task of becoming a competitive retail bank, for the benefit of South African consumers."

The board and executive team are grateful to Louis for his considerable contribution in stabilising and right-sizing the traditional credit business, and initiating a strategy to ensure a sound and sustainable future. They wish him continued success in his future endeavours.

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- BUSINESS REPORT ONLINE