Basani Maluleke looks set to become SA’s first black woman bank CEO. The 40-year-old attorney has been earmarked to succeed African Bank CEO Brian Riley, who will step down at the end of March 2018. "I’m pretty excited [but] I hadn’t thought about it that way," said Maluleke on Wednesday. She was appointed an executive director in July, having joined the African Bank board as far back as 2015. "I’ve been part of the creation of the strategy, I like the business, I understand it and want to make a meaningful contribution," she said. African Bank was placed in curatorship in 2014 after it was sunk by an explosion in bad debt and a funding crunch. The "good bank" – which is still known as African Bank — was recapitalised to the tune of R10bn by a consortium of local lenders, although the process of righting it has taken longer than expected, according to Riley, who will stay on as an executive director. "When I started I said I’d come in for a set period and I stayed a bit longer than ...
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