From Soweto to boardroom: Meet the women shaping SA’s retail banking
Gen Zs might tell you that education is not the key to success, but for these women, education and determination put them in leadership roles.
South Africa's retail banking sector is experiencing a transformation as women break into traditionally male-dominated roles. The five largest banks in the country – Absa, Capitec, FNB, Nedbank, and Standard Bank – now have women leading influential divisions and C-suite positions.
Absa's Group Chief Human Capital Officer is Jeanett Modise. Personal Bank at Capitec is led by Basani Maluleke, who previously served as CEO of African Bank. FNB Group, the parent company of FirstRand, has Mary Vilakazi as its Group Chief Executive Officer. Andiswa Bata, Group Managing Executive of Business and Commercial Banking at Nedbank, oversees Personal and Private Banking. Funeka Montjane, Chief Executive of Personal and Private Banking at Standard Bank, heads the executive team.
Women are also taking on roles once dominated by men. Capitec and Standard Bank are chaired by Santie Botha and Nonkululeko Nyembezi respectively, signifying women increasingly shaping the strategic direction of South Africa's financial sector.
To celebrate Women's Month, The Citizen interviewed each bank's chosen women leaders. Absa's Fatima Newman, Group Chief Compliance Officer, emphasized that leadership is about bringing people together and creating conditions for them to thrive. She hopes her appointment encourages young women to pursue leadership roles, even though senior positions remain male-dominated.
Nedbank's Marketing Lead, Buli Ndlovu, highlighted that trust is built through customers' experiences, especially during challenging times. She aims to create opportunities for others, recognizing the power of opportunity in South Africa. Ndlovu has reinvented herself multiple times, embracing new disciplines and technologies to stay relevant in a rapidly changing world.
Written by urgent.news from The Citizen's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
