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South Africa’s Lone Female Bank Chief, Basani Maluleke, Quits

  • Maluleke will leave African Bank in April after three years
  • African Bank CFO Raubenheimer will take over as acting CEO
The State of South Africa’s Faltering Economy in Charts
Photographer: Waldo Swiegers/Bloomberg
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South Africa’s only female banking boss, Basani Maluleke, quit unexpectedly as chief executive officer of African Bank Holdings Ltd. after only three years in the job.

Maluleke, also the first Black woman to lead a major lender in South Africa, will leave on April 30 “to pursue other career opportunities,” the company said in a statement Monday. Chief Financial Officer Gustav Raubenheimer will take over as acting CEO.