Sandile Shabalala to step in as new Sasfin Business and Commercial Banking division CEO

Sandile explains that his move is about delivering value beyond banking to the business segment.

Sasfin Bank has announced the appointment of Sandile Shabalala as the new CEO of its Business and Commercial Banking division with effect from January 2022.

“Sasfin has a huge opportunity to be a focused bank in the business banking space,” Sandile said. “There is scope to support SMEs who lack resources by offering more than traditional business banking, guiding them and delivering value-added expertise and resources.”

He explained that his move to Sasfin is about delivering value beyond banking to the business segment, which he believes would be “hugely appreciated”. He added that, as he got to know the group during various phases of the interview process, he saw a lot of drive and ambition, a robust strategy, as well as good values.

“Sasfin’s current trajectory and positioning are focused on enabling business growth, walking side by side with their clients, which will ultimately enable job creation,” he said.

Sandile, who has led the establishment and formal launch of the new TymeBank in February 2019 and served as the managing executive of business banking at Nedbank for 11 years, will be responsible for leading the business and commercial banking pillar.

Sasfin group CEO Michael Sassoon said, based on what the group has planned, he couldn’t have asked for a better combination of experience than the track record Sandile has. “His vision is very much aligned with where we are headed. Sandile was clearly the right fit, given his passion, vision and experience. South Africa needs leaders like Sandile to help get businesses going again. He is a proven entrepreneurial banking leader who can deliver on our purpose and champion the needs of business. We have big ambitions for this brand and getting the right person to lead it was essential.”