African Bank History

African Bank History

On 4 April 2016 the new African Bank Limited launched following an extensive restructuring exercise, which began on 10 August 2014 when the previous African Bank Limited was placed in curatorship. African Bank Limited and African Insurance Group Limited form part of a new group, with a new holding company African Bank Holdings Limited. 
With African Bank you can borrow, save and insure. To assist with your financial needs, we offer a number of relevant and innovative products, delivering more value than you expect. 
Every day we strive to live our brand purpose ‘humanity through banking’. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. No matter what the situation or circumstance, we hope that people who interact with us will walk away and say I was treated with humanity.Our mission

Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. We seek to provide value – more than our consumers expect of us. We promise to live our purpose ‘humanity through banking’ in all that we do and we are confident that we can, because ‘We are You’.The executivesBRIAN RILEYChief Executive OfficerGUSTAV RAUBENHEIMERChief Financial OfficerBASANI MALULEKEGroup Executive: OperationsGAVIN JONESGroup Executive: Funding and Liability Management, TreasuryLINDIWE MIYAMBUGroup Executive: Human CapitalPIET SWANEPOELChief Risk OfficerGEORGE ROUSSOSGroup Executive: Digital & Transactional BankingVERE MILLICANGroup Executive: CreditHENDUS VENTERChief Information OfficerMELLONY RAMALHOGroup Executive: Sales, Branch NetworkOur values

  • In all our interactions, we commit to open and honest communication, whether it be written or verbal.
  • We commit to account for our activities and accept responsibility for them. We disclose the results of our activities and deliver on our promises.
  • We are open to considering different viewpoints and we commit to expressing our own, respectfully.
  • We passionately strive to think and to do things differently.
  • We commit to turning great ideas into reality.
  • We reward and recognise those individuals and teams who changes our business for the better.
  • We bring our unique talents together for the benefit of the team.
  • We work together internally and externally to find the best solution.
  • We place the customer at the centre of all decision-making; we encourage honest debates and we respect and commit to final decisions.
  • We commit to align and harmonise our practices and actions and contribute positively towards the agreed goal.
  • We respect that we are all different.
  • We are genuinely attentive and we attempt to put ourselves in other peoples’ shoes.
  • We seek to understand people. Should we differ in opinion we will respond to them with sensitivity and compassion.
  • We are dedicated to making a difference to the lives of people living in underprivileged communities in South Africa.
  • We always seek to balance the return to our shareholders with value to our customers.
  • We are efficient and cost-effective to the benefit of the customer and business.
  • Everybody is a revenue generator, as well as a cost center in the business.

The boardLOUIS VON ZEUNERBroad banking experience – Board ChairmanIGNATIUS SEHOOLEFinancial, business and risk skillsBASANI MALULEKEFinance and entrepreneurial skillsSYBILLE MCCLOGHRIEIT, entrepreneurial and business skillsLOUISA STEPHENSFinancial and sustainability experienceFRANS TRUTERFinancial and insurance skillsSYDNEY MHLARHIAccounting and investment skillsPETER TEMPLEActuarial and insurance skillsBRIAN RILEYAfrican Bank Holdings Limited & BankCo Board Executive DirectorGUSTAV RAUBENHEIMERAfrican Bank Holdings Limited & BankCo Board Executive Director 


59, 16th Road
011 256 9000

Private Bag x170
Midrand, 1685