African Bank appoints CFO Gustav Raubenheimer as new group executive of data science

With a passion for data and analysis, Gustav will be responsible for executing the bank’s new digital strategy.

African Bank has announced the appointment of its group CFO Gustav Raubenheimer as the new group executive of data science with effect from 30 April. The move will see Gustav step down from his role as CFO, which he has held for the past 10 years.

“I would like to thank the board for its support during my tenure as CFO. I am also very grateful to them for allowing me to contribute to its future success and the execution of its new strategy,” Gustav said.

According to the company, Gustav will expand an already fast-growing, in-house data analytics team. “African Bank has made great strides in diversifying its revenue streams. Profitable and sustainable lending is vital for the bank’s successful future. That means building new, relevant digital skills,” he said.

Gustav added that a particular passion of his has been to carve out “nuggets of value” through the mining and analysis of data. “The expansion of data sources and data mining techniques mean that the opportunities in this respect are only limited by our ability to ask pertinent questions.”

He explained that African Bank has invested heavily in a data capability that is comparable to any, not only in South Africa, but worldwide. “Working in this environment is going to be fulfilling and challenging. It is an area where I will be able to contribute to African Bank strengthening its current brand, but also expanding into new and adjacent segments.”

African Bank CEO Kennedy Bungane further said that Gustav has an “abiding passion for data science and his still in this regard is crucial in the continuing upward journey of the bank”. This includes expanding core growth initiatives such as providing a digital-first offering to small, medium, and micro enterprises, growing the bank’s customer base, and diversifying the product offering while strengthening digital interventions and capabilities.