African Bank has named Zweli Manyathi as its interim Group Chief Executive Officer with effect from 6 March 2026, subject to the necessary regulatory approvals, as the South African lender manages a leadership transition following the departure of Kennedy Bungane, who leaves after five years at the helm of the institution.
Bungane's tenure at African Bank coincided with the implementation of the institution's Excelerate 25 transformation strategy. His five years in the role saw African Bank move from a mono-line unsecured lender towards a more diversified financial institution, including the acquisition of UBank, Grindrod Bank and selected Sasfin Bank businesses.
MANYATHI'S BACKGROUND
Within the institution, Manyathi most recently served as Chief Executive of Business and Commercial Banking.
Before his career at African Bank, Manyathi held senior positions at Standard Bank and First National Bank.
REGULATORY APPROVAL
The appointment is subject to approval from the Prudential Authority, South Africa's banking regulator, which is the standard requirement for material changes to the senior leadership of licensed deposit-taking institutions.
African Bank operates as a personal, business and commercial bank in South Africa.