Africa-Press – South-Africa. AFRICAN Bank said yesterday that it had named Zwelibanzi (Zweli) Manyathi as group executive: business banking – a new position, adding that his core remit would be to establish and build a business banking division.
African Bank chief executive Kennedy Bungane said: “Zweli’s appointment is part of our robust growth strategy to become a broader financial platform in a sector that is rapidly changing. There is no question that expectations are changing in our industry, and banks have no choice but to put strategies in place to help businesses prepare for the future where digitisation is at the core.
“Our intention is to create a business banking division that meets the new needs of South African business, particularly in the small and medium-sized area. These enterprises are the engine room of the country’s economy, but are often neglected when it comes to bespoke offerings that will enable their success and growth.”
Manyathi, who has worked in the financial services sector both in South Africa and the US, brought 40 years of experience to the job, African Bank said.
Most recently, Manyathi was chief executive of business and commercial clients at Standard Bank, and prior to that chief executive of personal and business banking at the same organisation. He has also served as chief executive of corporate banking at FNB.
The business banking division would offer solutions in the fast-growing digital realm, asset financing and mortgage origination.
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