Press Statements

Johannesburg, South Africa; 3 April 2018 

The Black Management Forum (the BMF) which is at the forefront of transformation in Corporate South Africa welcomes and celebrates the appointment of Basani Maluleke as the Chief Executive Officer of African Bank. Basani Maluleke is the first black woman to head a bank in South Africa.

“We are proud of the progressive and exemplary move made by African Bank to appoint Ms Maluleke to head the bank. The appointment of Ms Maluleke, a seasoned executive is a step in the right direction especially against the backdrop of setbacks on transformation of executive teams of major financial services sector companies in corporate South Africa. Ms Maluleke’s appointment also shows African Bank’s seriousness about succession planning as Ms Maluleke went through a succession induction process from July 2017,” said Mncane Mthunzi, President of the BMF.

“Ms Maluleke’s appointment further highlights the benefits of converting a non-executive director to an executive director in a company. As a previous non-executive director at African Bank, Ms Maluleke is already well versed in all aspects of the company. The conversion makes sense for companies to leverage high-performing and thought-leadership that already exists within its board and use non-executives as a talent pool to fill vacancies at executive levels. The conversion of non-executive directors to executive directors will accelerate black talent and help top management in organisation to reflect demographics of our society,” continued Mthunzi.

Ms Maluleke’s appointment shows that African Bank takes employment equity and gender diversity seriously. Companies that have women directors and executives send a clear message that they value diversity of thought, perspective and experience. Advancing women leadership is a business imperative.

The BMF extends its well wishes to Ms Maluleke pledges its unwavering support as she takes African Bank to greater heights and drives to achieving transformation at African Bank.

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 About the Black Management Forum

The Black Management Forum (the BMF) has been in existence for 41 years. It is a thought-leadership organisation with the main purpose of influencing socio-economic transformation in our country, in pursuit of socio-economic justice, fairness and equity. The BMF stands for the development and empowerment of managerial leadership and the creation of managerial structures and processes that reflect the demographics and values of the wider society.

For more information, please contact:

Anele Ndlovu
Black Management Forum
Head: Marketing & Communications
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076 431 2899