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Ron Derby | The case of SA's first black female bank CEO and my male privilege

African Bank announced the shock resignation of its CEO, Basani Maluleke on Monday.
Photo: Gallo Images/Business Day/Freddy Mavunda
The African Bank board has some questions to answer. In putting out a statement that their former CEO was leaving to pursue other career opportunities, the board had already conspired in a lie ultimately to their shareholder – the South African public, writes
Ron Derby.
I am that black man at the table who, through years of assimilation, has learnt to fit into virtually any setting – or so I'd like to think. Whether discussing last week's Sharks and Bulls rugby match, the possible rise of a duopoly, the not-so-stellar Soweto derby or yet another Arsenal loss, I can banter with the best of them.

South-africa , Soweto , Gauteng , United-states , South-african , American , Thabo-dloti , Johann-rupert , Patrice-motsepe , Natascha-viljoen , Saki-macozoma , Ron-derby

Sketchy details of African Bank head's shock resignation as ANCWL, BMF cry foul

African Bank announced the shock resignation of its CEO, Basani Maluleke on Monday.
Photo: Gallo Images/Business Day/Freddy Mavunda
The shock resignation of African Bank CEO Basani Maluleke is "a loss for all women" and the practice by men in corporates to "squeeze out women" needs to be reigned in, the ANC Women's League (ANCWL) said in a statement.
The league has joined a number of organisations who are seeking answers about Maluleke's sudden resignation, demanding the African Bank board to address reports that she was pushed out because of clashes with the chairperson, Thabo Dloti.
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Thabo-dloti , Basani-maluleke , African-bank , Women-league , பெண்கள்-லீக் ,

Calls for African Bank to answer for shock resignation of its CEO

African Bank announced the shock resignation of its CEO, Basani Maluleke on Monday.
Photo: Gallo Images/Business Day/Freddy Mavunda
The Black Management Forum (BMF) says the African Bank board must provide answers about the shock resignation of Basani Maluleke because the explanation that she is leaving to pursue other opportunities is unconvincing.
There’s more to this story
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African Bank keeping afloat – The Citizen

Bad news is that new loans are down 37% year-on-year.
That African Bank would swing to a loss for the year ended 30 September, 2020, is not surprising. At the half-year mark, it reported a R111 million net loss after tax after a R550 million Covid-19 impairment in the bank (as well as a R303 million provision in its insurance business). Analysts will surely be scrutinising the unlisted bank’s figures as it continues its recovery for any signs of distress that could be lurking in the books of its larger, listed rivals. READ MORE: Basani Maluleke resigns as African Bank CEO The good news is that the bank was profitable...

Basani-maluleke , African-bank , Debt-services , That-african-bank , Residual-debt-services , கடன்-சேவைகள் , மீதமுள்ள-கடன்-சேவைகள் ,

African Bank: The good, the bad, and the worrying

MONEYWEB
app instead?
Despite some promising indicators, its lending book has clearly deteriorated.
By Moneyweb
27 Jan 2021
00:01
The bankâs credit loss ratio has rocketed, painting a clear picture of a consumer under significant stress. Image: Supplied
That African Bank would swing to a loss for the year ended September 30, 2020, is not surprising.
At the half-year mark it reported a R111 million net loss after tax after a R550 million Covid-19 impairment in the bank (as well as a R303 million provision in its insurance business).
Analysts will surely be scrutinising the unlisted bank’s figures as it continues its recovery, for any signs of distress that could be lurking in the books of its larger, listed rivals.

Basani-maluleke , African-bank , Debt-services , That-african-bank , Residual-debt-services , கடன்-சேவைகள் , மீதமுள்ள-கடன்-சேவைகள் ,

African Bank swings into full-year loss of R27m after R1.2bn profit

African Bank swings into full-year loss of R27m after R1.2bn profit
By Sandile Mchunu
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JOHANNESBURG - AFRICAN Bank yesterday swung into a full-year loss of R27 million for the year to end September from a R1.2 billion profit a year earlier on higher credit impairments and reduced insurance income.
The bank reported a better second-half performance by reporting earnings of R84m from April to September compared to a first-half loss of R111m as lower risk emerged and operating costs and net interest expenses reduced.
African Bank raised a specific credit impairment of R550m and an insurance provision of R303m at the outbreak of the pandemic in March.

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Investegate |African Bank Ltd Announcements | African Bank Ltd: African Bank Limited and ABHL group annual results

(Registered Bank)
Company code: ABKI

RELEASE OF THE AUDITED FINANCIAL RESULTS FOR AFRICAN BANK LIMITED AND RELATED GROUP INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2020

African Bank is pleased to announce that the Bank and its holding company, African Bank Holdings Limited ("ABH" or "ABH Group" or the "Group"), released their audited financial statements for the year ended 30 September 2020 ("results" and "ABH consolidated results", respectively) today. The Bank's stand-alone results are addressed first, followed by the more comprehensive ABH consolidated results.

The challenging South African macroeconomic environment, exacerbated by the Covid-19 pandemic and related national lockdown measures, negatively impacted the Bank's performance primarily through higher credit impairments. As a consequence, the Bank reported a net loss after tax of R560 million, for the year ended 30 September 2020 (FY 2019: R267 million profit).

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African Bank reports R27m full-year loss

Tuesday 26 January 2021 - 3:00pm
An African Bank branch.
AFP/Wikus de Wet
JOHANNESBURG - African Bank has reported a full-year loss of R27-million after an improved performance in the second half of the year.
The bank said it suffered an increase in credit impairments and earned less money from insurance during the period.
African Bank's results come a day after its chief executive officer, Basani Maluleke, announced her resignation.

Johannesburg , Gauteng , South-africa , Basani-maluleke , African-bank , ஜோகன்னஸ்பர்க் , கௌஊட்டெங் ,

African Bank Reports Loss a Day After CEO's Surprise Resignation

Loni Prinsloo, Bloomberg News
An African Bank bank branch in Johannesburg, South Africa. Photographer: Waldo Swiegers/Bloomberg
, Bloomberg
(Bloomberg) -- African Bank Holdings Ltd. reported a full-year loss a day after announcing the unexpected resignation of Basani Maluleke, the only Black women to lead one of South Africaâs top banks.
The unsecured lender swung to a 560 million-rand ($37 million) loss in the 12 months through September, compared with a year-earlier profit of 267 million rand, Johannesburg-based African Bank said in a statement Tuesday. The coronavirus pandemic and the nationâs moribund economy caused credit impairments to soar 58%, resulting in a credit-loss ratio of 11.7% from 7.5% previously, it said.

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CEO Basani Maluleke quit after conflict with chairman at African Bank

CEO Basani Maluleke quit after conflict with chairman at African Bank
businesslive.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesslive.co.za Daily Mail and Mail on Sunday newspapers.

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