ABSIP WELCOMES APPOINTMENT OF DANIEL MMINELE AS CEO OF ABSA

ABSIP WELCOMES APPOINTMENT OF DANIEL MMINELE AS CEO OF ABSA
JOHANNESBURG, Jan 6, 2020

The Association of Black Securities and Investment Professionals (ABSIP) has praised ABSA for appointing Daniel Mminele as the first black Group Chief Executive Officer, saying the bank has eventually recognised the importance of transformation and diversity.

“We are pleased that the bank has recognised that there is no shortage of black skills and has appointed Mminele, the former deputy governor of the South African Reserve Bank (SARB),” said ABSIP President Sibongiseni Mbatha.

“Last year ABSIP conferred him a Lifetime Achiever award for his priceless experiences of interacting with the world’s leading financial minds, and influence for bankers to be honest, trustworthy and upright individuals who embrace diversity and inclusiveness,” said Mbatha.

While at the bank he established the Financial Markets Department, received the “Reserve Bank Manager of the Year” award on behalf of the SARB in 2015, helped raise the profile and reputation of the SARB in international forums such as the Association of African Central Banks, International Monetary Fund, G20, and BRICS (Brazil, Russia, India, China and South Africa, making the SARB a respected and reliable partner whose views are always sought on key issues in regional and global forums.

In the past ABSIP engaged the bank and emphasised that efforts needed to be redoubled to ensure that boardrooms and executive positions reflect the demographics of the South African society.

In particular, ABSIP expressed concern at the bank’s appointment of two white men, the new chief executive officer of corporate and investment banking and chief executive for engineering service, saying that made the top echelons of the bank’s investment banking too untransformed.

“We are happy ABSA has listened to our concerns. We applaud the progress the bank is making. A lot of work still needs to be done in transforming the bank and ensuring that its employees reflect the profile of its customers and the country. ABSIP is prepared to assist the new Group CEO to achieve this,” said Mbatha.

ABOUT ABSIP
Established in 1995, the Association of Black Securities and Investment Professionals (ABSIP) is a lead custodian of black professionals’ interests and black business in the financial services sector. Its vision has evolved to pursue a transformed, fully inclusive and ethically run financial sector that equitably represents black professionals and black business to enable sustainable growth for the sector and South Africa at large.
Issued on behalf of ABSIP by The Media and Writers Firm
For further information, please contact:
The Media and Writers Firm
Rich Hlatshwayo
Tel: 011 450-3865
083 880 1260
Rich.Hlatshwayo@mediaandwritersfirm.com

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