Grindrod Bank appoints CFO and others to board of directors


CFO Rakesh Garach is one of the four new members on Grindrod Bank's board of directors.

Grindrod Bank has appointed CFO Rakesh Garach, along with four others, to its board of directors as of 1 March. 

About the appointments, Grindrod Bank CEO David Polkinghorne, who is already a member of the board, said: 

“These appointments come at a time in which our organisation is embracing transformation and solidifying its corporate culture, ethos and commitment to the highest global standards of good governance.”

David added that, as a bank, they’ve gad to identify opportunities that will grow the business by bringing together diverse individuals with different skills and our board members reflect this growth.

The new appointments include Amanda Dambuza as chairperson, making her the first African woman to be appointed chairperson of a bank in South Africa. She is the CEO of Uyandiswa, a project management consulting firm she founded seven years ago.

CA(SA) Sherry Barrett, Jade Capital Partners co-founder and executive director Zola Malinga and former Sasfin and Deloitte FD Tyrone Soondarjee have been appointed as independent non-executive directors, while Julian Beare will be stepping down as chairperson.

“We are excited to have our new members join our board and we are thrilled with the talent that we are able to retain. We are certain of the value the current board will contribute. At Grindrod Bank, we see good governance as a critical component that will set us up for success. Our diverse opinions, experience, values and skills will unlock more opportunities that will set us apart and take us to greater heights,” Amanda says. 

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