takes the lead
Absa's new CEO started work on 15 January this year - and his vision for the future is clear.
Daniel Mminele, Absa's new Group Chief Executive, assumed leadership of the Group in January. His lifetime of local and international banking experience gives him the knowledge and leadership to position the bank to adapt and respond effectively to the rapidly evolving operational environment.
He joins Absa after a six-month break following his resignation from the role of Deputy Governor of the South African Reserve Bank (SARB). Daniel was lauded by Reserve Bank Governor Lesetja Kganyago on the announcement of his resignation from SARB last year, when he noted that: “Deputy Governor Mminele has left an indelible mark on this fine institution and his contribution to the bank has been invaluable and immeasurable.”
Daniel himself says: “We want Absa to be recognisable as a leading African financial services group that has clearly demonstrated that it’s invested in the success of the continent, with South Africa as its base.
“We need to continuously make sure that we’re correctly positioned for any changes in our operating environment, whether they’re created by competitors, new business models or changing distribution models, as well as making sure that we continue to anticipate, meet and exceed the needs and expectations of our customers,” Daniel says.
“We can be at the forefront of service excellence, creating appropriate returns for our shareholders and growing our people, achieving the goals and results that our strategy suggests, building on the trust that Absa has built over decades of offering service that is superior to any competitor,” he adds.
The markets welcomed Daniel’s appointment, with Bloomberg banking analyst Philip Richards saying it provides the perfect opportunity for Absa to revamp its financial goals with an emphasis on growth, as well as recovering lost market share and expanding in core African markets.”