ShapeShifter

Meet the brave Basani Maluleke, CEO at 'new and improved' African Bank

I’m a lot less grumpy [about being called ‘the first black woman to lead a South African bank’]… It makes me walk a little bit taller… I’ve had to learn how to rise to the occasion…

Basani Maluleke, African Bank

There is this idea that bank charges are exorbitant, and that it’s difficult to understand them… We are the young challenger [to Capitec Bank]… What will differentiate us is the banking experience… It’s really cool that there is all this competition…

Basani Maluleke, African Bank

There’s a lot of talk about needing a black bank… I’m not entirely sure what people mean when they say that… What I would like to leave as my legacy is a bank that really is a bank for the people… We must be perceived as the bank that helps people build wealth… The key is that you don’t end up exploiting people…

Basani Maluleke, African Bank

African Bank CEO Basani Maluleke is nothing if not bold.

Her mission?

Returning the fallen bank to sustained profitability.

Under her lead African Bank is transforming from being, in the main, a micro-lender into a full-fledged transactional bank, offering better interest rates than its peers.

Maluleke has law degree from the University of Cape Town as well as an MBA from the Kellogg School of Management.

She has more than a decade of experience in financial services.

The Money Show’s Bruce Whitfield interviewed Maluleke for his weekly “ShapeShifter” feature.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

It was child labour! My family owns a number of grocery shops… I started off packing shelves… We didn’t have vacation. My father’s view was you’ll rest when you’re dead…

Basani Maluleke, African Bank

I’ve had amazing mentors; they were all men… Maybe I have a lot more testosterone than I should!

Basani Maluleke, African Bank

Your wealth doesn’t have to define you...

Basani Maluleke, African Bank

You realise how expensive it is to be poor… This morning you would’ve heard about the bus strike… I drive to work every morning… The wealthier you are the less you pay… I worry about it a lot…

Basani Maluleke, African Bank

We definitely have aspirations of listing… I hope you will invest!

Basani Maluleke, African Bank

We do have a very loyal customer base…

Basani Maluleke, African Bank

I love to read… I love to spend time with my family…

Basani Maluleke, African Bank

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