African Bank CEO Basani Maluleke on quest to alter banking scene among masses

The key aspect that took the bank into curatorship, she said, was an unsustainable business model.

Maluleke said the new bank was launched with a new board and has been implementing new credit policies focusing on lower-risk customers.

Under Maluleke’s leadership, African Bank will early this year introduce its transactional banking product, “MyWORLD”, which will enable its customers to have all their products with the bank, including transactional banking, instead of just having a loan with the bank, as was traditionally the case.

“People want to be able to have everything in one place. You don’t want to have a cheque account in one bank and your loan in another bank. What we are doing now is to bring those things together.”

Currently, over 3,000 of…

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