African Bank CEO to restore lender's original legacy

Audacious. It's a word that one reads over and over in African Bank's financial results for the six months to March 2022. Given that the bank is not as good at lending as Capitec, and is not as good a transactor as the big banks, perhaps audacity is exactly what it needs as it seeks its own place in the sun.

By Sasha Planting

27 May 2022

Source: Supplied. Chief executive officer of African Bank Kennedy Bungane.

Certainly, chief executive officer, Kennedy Bungane, who has been in the role for 13 months, and has banking baked into his bones, believes that audacity will be what is needed if African Bank is to take its rightful place in the South African market.

“We had to craft a new strategy, but it’s one that sees us going back to our roots. We are building a bank for the people. I know that sounds like motherhood and apple pie, but we have a responsibility to return the bank to its original ideals – one that is customer-centric, that is diversified, has scale and can leverage off the story of audacity that is our history.”

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