African Bank Holdings appoints Kennedy Bungane as CEO

Kennedy will be responsible for transforming the bank into a successful investible diversified retail bank.

African Bank Holdings has announced the appointment of Kennedy Bungane as its new CEO.

According to a statement by the company, Kennedy brings over 20 years of banking experience with him, having started his career at Standard Bank in 1991, holding a number of senior positions, including head of global market sales, head of institutional and corporate banking, CEO of corporate and investment banking for Standard Bank South Africa, and a member of the Standard Bank executive committee.

After joining Barclays Africa in 2012 as CEO and head of Absa Group strategy, Kennedy led the sale of Barclays Africa to Absa. More recently, he headed up the Phembani Group as its CEO.

“We welcome the appointment of Kennedy as the new permanent CEO. Kennedy has a keen sense for managing complex stakeholder issues. He has a proven track record in identifying and nurturing leadership, which promotes strong teams to deliver successful results. His passion for the role that banking can play in transforming society resonated strongly with the board,” said African Bank chairman Thabo Dloti.

Thabo said that, as an experienced banker, Kennedy also has a good grasp of the strategic challenges facing the bank, within a muted South African economy and competitive landscape, as well as the required regulatory and governance framework. “We are thrilled to welcome Kennedy to our team and look forward to working together as we continue to build a strong leadership team, and continue on our journey of transforming the bank into a successful investible diversified retail bank.”