Absa appoints its first black CEO

Daniel Mminele will officially take over the reins from January 15.

Absa Bank’s newly appointed CEO and former SA Reserve Bank deputy governor Daniel Mminele will be the first black CEO of the bank and will officially begin in his new role on January 15 2020.

After working in the banking sector in the UK and Germany, Danielereturned to South Africa in 1995 to join Commerzbank in Johannesburg. He then briefly worked at African Merchant Bank, before  before joining the Reserve Bank in September 1999. 

He served in the bank’s financial markets and international banking departments, before being appointed as deputy governor responsible for financial markets and international economic relations. 

About his appointment, Mminele said:  “I am delighted to be joining the Absa group. I look forward to being part of and leading the exciting journey that Absa has embarked upon to regain its rightful place in the South African market as well as to fully establish itself as an independent African financial services group with deep roots in South Africa.”  

Daniel takes over from former CEO Maria Ramos who retired at the end of February 2019 when she turned 60.