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The Development Bank of Southern Africa (DBSA) on Monday announced the resignation of its CEO, Paul Baloyi.

“Mr Baloyi will be leaving the DBSA to pursue personal interests,” the bank said in a statement.

Baloyi's resignation will take effect on March 31; he will hand over to TP Nchocho, group executive: investment banking, who has been appointed as acting chief executive officer from April 1.

Baloyi joined the Bank in 2006 and under his stewardship the DBSA has seen significant improvements in its operations as well as a major expansion in the bank's scope of activities, thus enhancing the DBSA's developmental effectiveness and standing as a leading development finance institution.

“The board would like to express its deep appreciation for the contribution of Mr Baloyi to the DBSA and wishes him well in his future endeavours,” the DBSA said. - I-Net Bridge