African Bank CEO Ms. Basani Maluleke Part-Ways with the Banking Group

African Bank has announced the resignation of its Chief Executive Officer (CEO) Ms Basani Maluleke.

Maluleke’s sudden resignation was primarily due to a clash of personalities with African Bank chair Thabo Dloti, that’s according to Business Day. The newspaper report that in the wake of the announcement, which caught the market by surprise, Business Day has established that Maluleke’s resignation was the direct consequence of her “difficult” working relationship with Dloti.

The African Bank confirmed the resignation of its CEO Ms Maluleke by releasing a statement through their social media post.

African Bank stakeholders are advised that Ms Basani Maluleke has resigned as the Group’s Chief Executive Officer and as an executive director of African Bank and African Bank Holdings Limited (ABHL) Boards of Directors.

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

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