Daniel Mminele - the first black chief executive for Absa

Absa Bank has appointed former South African Reserve Bank deputy governor Daniel Mminele as its group chief executive.

Mminele will be the first black chief executive for Absa.

He has served for more than 10 years at the Reserve Bank as deputy governor.

The Money Show speaks to financial journalist Warren Thompson about the appointment.

He is moving right into the middle of a gunfight here with the big reins that he is taking over at Absa - in an economy that is very sluggish - and some well-resourced competitors entering the market.

Warren Thompson, Financial Journalist - Business Day

Whether you're moving between Absa and FNB or the Central Bank or a commercial bank, there are these mandatory cooling off periods they've introduced.

Warren Thompson, Financial Journalist - Business Day

I think our central bank is very professional and there will be a hard line around what needs to be regulations.

Warren Thompson, Financial Journalist - Business Day
Absa CEO Daniel Mminele. Picture: Absa

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