After years in South Africa’s biggest banks, Avashnee Ramdial took a leap into the unknown, joining Access Bank SA as CFO to help build it from the ground up. It’s a demanding journey of transformation, growth and grit, but one she’s embracing with tenacity.
When Avashnee Ramdial walked into her new office at Access Bank South Africa as chief financial officer earlier this year, she knew she wasn’t just starting another corporate role, she was stepping into a mission.
“It’s an interesting and exciting adventure,” she reflects. “But it’s also completely different from anything I’ve done before.”
With a career that spans Standard Bank, Absa and more than a decade at Deloitte, Avashnee has built a deep foundation in financial services. Her experience ranged from financial services to asset management, but Access Bank represented something different: the chance to help build a new player in South Africa’s fiercely competitive banking sector.
“Access Bank is massive across Africa, it’s the number one bank in Nigeria and operates in multiple markets,” she explains. “But in South Africa, it’s a start-up. They recently bought Bidvest Bank, pending regulatory approval, so there’s a huge opportunity to establish and grow the brand here.”
It’s a daunting task: carving out a space in a market dominated by four heavyweights, Standard Bank, FirstRand, Absa and Nedbank. Yet for Avashnee, that very challenge is what drew her in.
Building a legacy
“I wanted to be part of building something lasting. For me, leaving a legacy means contributing to something bigger than myself. It’s tough work and long hours, but when you’re surrounded by the right people and backed by a committed group, it becomes worthwhile.”
Founded in Nigeria, Access Bank began as the country’s 42nd-ranked institution. Through relentless focus, bold leadership and strategic growth, it steadily rose to become Nigeria’s largest bank.
“One of the founders has since passed away, but the other remains chairman of the group,” Avashnee shares. “Their journey is phenomenal. If you can go from number 42 to number one in Nigeria, you can do it anywhere. That’s why I believe in this vision for South Africa.”
But belief alone won’t win customers away from established banks. She says South African clients are notoriously loyal to their institutions and breaking through requires both patience and differentiation.
“Market share is our biggest challenge. Customers don’t move easily. That’s why we’re focusing on what makes us different, our trade finance offering and strong SME focus. Those are markets where we can really make an impact.”
Finding the niche
Regarding where Access Bank can compete, Avashnee says she is realistic, pointing out that they’re up against well-established behemoths in retail banking. She says her and her team don’t think it makes sense to invest time and effort in it at this time. Rather, they are concentrating on trade financing, alliance banking with fintechs and small and medium-sized businesses, adding that they can establish a niche there.
She draws inspiration from disruptors like Capitec Bank. “When Capitec started, people thought they couldn’t challenge the big four. But they changed the model, longer operating hours, lower fees and forced the entire industry to follow. We need to find our own differentiator,” she explains.
According to her, that difference is found in global reach, agility and digitalisation. She explains that they can act more quickly since they are a smaller bank and in contrast to larger banks, which are hampered by bureaucracy, adding that they are able to test new products, launch them swiftly, and provide answers.
“And with Access Bank’s pan-African presence, we have a unique advantage in trade flows and global markets,” she says.
Joining a start-up bank, says Avashnee, after years in large institutions has been both invigorating and overwhelming.
“In a big bank, your role is specialised, you handle your piece and others handle theirs. Here, it’s end-to-end. You’re involved in everything: treasury, regulation, credit. It gives you incredible exposure but also huge responsibility. There are regulators, auditors, shareholders, exco committees, you’re constantly managing multiple stakeholders. At times, it feels like you’re everywhere at once.”
A different kind of pressure
Having just been in the position for six months, she acknowledges that the transition has been difficult. Weekends, late-night calls and long hours. Her previous work-life balance is very different now.
For Avashnee, part of the adjustment has been cultural. Having spent her career in South African institutions, she’s now part of a Nigerian-led group with a very different ethos.
“It’s a high-performance environment. The targets are ambitious and the work ethic is relentless. People work seven days a week, 24/7 and are focused on winning. There are many companies that have values but this is the first time where I have seen the leadership of the Group keep true to the values and constantly reinforce it. That commitment is how they built the bank and we have to match that.”
While it’s demanding, she finds it refreshing due to the fact that it is a whole new learning experience. And for her, she has always craved growth and new challenges, so this culture pushes her in the best way possible.
Yet the demands haven’t come without personal cost.
Avashnee is a single mother of two children, aged 14 and 11. Until recently, she prided herself on managing career and motherhood without guilt.
Finding balance
“At Standard Bank, I had great advice from a senior executive who told me: ‘You’ll never get back the time you miss with your children. Speak up for yourself and set boundaries.’ I followed that advice for 14 years and it worked. I never missed a school function, never missed a meeting. My children didn’t feel my absence.”
But the Access Bank opportunity has changed that and because of that this year has been the first time she felt that mom guilt.
“I even worked on our holiday cruise. My kids are shocked, they’ve never seen me like this before,” she says.
She admits it’s a period of reflection, adding that she has made it a point to find balance again. But right now, as she and her team build the foundation, it’s still a bit hard to switch off.
“My goal is to reach a point where the right team is in place, the culture is aligned and I can re-establish that balance,” she says.
Leadership style
Despite the pressures, Avashnee is deeply intentional about her leadership and she does not believe finance should just be about producing numbers. She instead believes that a strong finance team must be a strategic partner to the business – aligned, insightful and forward-looking.
She challenges her team to think differently, to be analytical and solutions-driven – creating solutions is where the real fulfilment lies she believes.
“You leave behind something lasting, not just a number on a page. You can’t take people on a journey without buy-in. They must understand why. And you must give them the right tools, automation, efficiency, analytics, so they can deliver real value,” she says.
She acknowledges that patience is not her strongest trait, saying that although she is a very impatient person, she just wants things done quickly because that creates pressure for herself and for her team, but it also drives progress. And for her, it is about looking back each week and knowing that you have added value and contributed to the business.
Asked what advantages Access Bank has over South Africa’s big four, Avashnee points to agility.
“As a smaller bank, we can leapfrog the inefficiencies of larger institutions. We can digitise faster, bring new products to market sooner and solve problems they can’t.”
She cites Discovery Bank’s Vitality-linked model as an example of differentiation.
“They created a unique value proposition that tied customers in across products. That’s the kind of thinking we need, something that sets us apart not just in South Africa, but across the Access Bank Group.”
Making a difference
What keeps her motivated through the long hours and steep learning curve?
“Making a difference. Fixing things, creating new solutions, seeing the green shoots of progress, that’s what drives me. Every day, you reprioritise, tackle the biggest-impact issues and keep moving forward.”
For her, the reward lies in legacy because for her it’s about leaving behind something meaningful, something that lasts. She explains that she has the privilege of working with the Group leadership who work with employees and support them through any challenge. They are available 24/7 and focussed on what it takes to win, anything else is a distraction. That’s what excites her about Access Bank, she and her team are building a legacy from the ground up.
Despite the demands, Avashnee makes time for herself. Her mornings begin at 5 am in the gym. “That’s my time out. It clears my head and helps me disconnect.”
She loves to travel and holidays with her children and family remains her anchor. “I’m very family-focused. My kids and my wider family are my priority. Balancing that with work and friends is hard right now, but I’m working on it.”
Looking ahead
Where does she see herself, and Access Bank, in five years?
At its core, Avashnee’s journey is about more than banking. It’s about resilience, transformation and legacy.
“I want Access Bank South Africa to be recognised as a serious competitor, respected for its innovation and value proposition. I want us to have carved out a strong niche in SMEs, trade finance and alliance banking. And personally, I want to have built a finance team that’s truly embedded in the business, driving growth as a strategic partner,” she says.
She knows the road won’t be easy because the challenges – regulation, competition, governance, stakeholder management – are immense. But with commitment, agility and vision, she believes it’s possible.
“I’ve seen it done before. And I believe we can do it here,” she says. “I’ve always loved challenges. They push you to grow, to create, to leave something behind. That’s what I’m here to do, build a legacy, one challenge at a time.”
