African Bank Taps Experienced Banker Kennedy Bungane As CEO

Kennedy Bungane
African Bank Taps Experienced Banker Kennedy Bungane As CEO. Image source. Flickr

The African Bank Group taps Kennedy Bungane as CE0 and as an executive director of the bank and holding company African Bank Holdings. His appointment, effective 14 April 2021.

“We welcome the appointment of Kennedy as the new permanent CEO. Kennedy has a
keen sense for managing complex stakeholder issues. He has a proven track record in
identifying and nurturing leadership, which promotes strong teams to deliver successful
results. His passion for the role that banking can play in transforming society resonated
strongly with the Board,” said the Chairman of the Board, Thabo Dloti.

“As an experienced banker, he also critically has a good grasp of the strategic challenges
facing the Bank, within a muted South African economy and competitive landscape, as
well as the required regulatory and governance framework.

“We are thrilled to welcome Kennedy to our team and look forward to working together as
we continue to build a strong leadership team, and continue on our journey of
transforming the Bank into a successful investible diversified retail bank.”

Kennedy brings over 20 years of banking experience with him, having started his career at
Standard Bank in 1991, holding a number of senior positions, including Head of Global
Markets Sales, Head of Institutional and Corporate Banking, CEO Corporate and Investment
Banking for Standard Bank South Africa, and a member of the Standard Bank Group
Executive Committee.

After joining Barclays Africa in 2012 as Chief Executive of Barclays Africa Limited and Head of Absa Group strategy, Kennedy led the sale of Barclays Africa Limited to the ABSA Group.

More recently, Kennedy headed up the Phembani Group as its CEO. He also brings investment and strategic experience gained as the founder and chairman of Nokeng Telecoms and chairman of Idwala Capital.

Kennedy holds a Bachelor of Commerce degree, a Master of Business Administration, and
completed the advanced management program at the Harvard Business School (USA).


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