AFRICAN BANK LIMITED - Appointment of Basani Maluleke as Chief Executive Officer - ABKI

Appointment of Basani Maluleke as Chief Executive Officer - ABKI

AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
Company code: ABKI
(“the Bank” or “African Bank”)


APPOINTMENT OF BASANI MALULEKE AS CHIEF EXECUTIVE OFFICER

This notice is published voluntarily to ensure that noteholders and other interested parties are
appropriately informed of all significant activities of the Bank.

African Bank is pleased to announce the anticipated appointment of Ms Basani Maluleke as Chief
Executive Officer of African Bank Holdings Limited (the Group), effective 1 April 2018. As noted in
the Johannesburg Stock Exchange News Service (SENS) announcement released on 18 October 2017,
the current CEO, Mr Brian Riley, retires as CEO with effect from 31 March 2018.

Commenting on Ms Maluleke’s appointment, Mr Louis von Zeuner, the Chairman of the Board
noted, “The Board welcomes the formal appointment of Basani as CEO, following a successful
induction process since July 2017, as previously announced. Basani has been an integral part of
African Bank’s turnaround since her appointment as a non-executive in July 2015 and subsequent
transition to the executive team on 3 July 2017, serving as Group Executive for Operations. The
Board looks forward to working with Basani in her capacity as CEO, as the Group continues to
execute on its mission of becoming a successful retail bank.”

Mr von Zeuner added, “The Board would like to formally extend its appreciation to Brian for his
significant contribution in developing the Group strategy and driving its implementation to date”.

Commenting on her appointment Ms Maluleke said, “I am optimistic about the future prospects for
African Bank, having worked closely with the Executive team for the past several months, as we
build on the foundations and continue to deliver on our strategy. We remain committed to
delivering on our stated success factors for 2021 and, while we recognise that the competition is
tough, we have a strong team to meet our stakeholders’ expectations.”

Ms Maluleke has a B Com LLB (UCT), MBA (Kellogg) and is an admitted attorney. She has over ten
years of financial services working experience and has also worked for Edward Nathan Friedland,
FirstRand’s RMB division as well as in various FNB divisions. More recently, she was an executive
director of Transcend Capital, a corporate finance business specialising in B-BBEE ownership.

29 March 2018

Debt Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 29/03/2018 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.