Standard Bank Group has announced the appointment of Sim Tshabalala as Interim Chief Executive of The Standard Bank of South Africa Limited (SBSA) with effect from 8 April 2025, subject to regulatory approval. Accordingly, Sim will serve in a dual capacity as Chief Executive of Standard Bank Group and SBSA, and as executive director on the boards of both companies, until such time as the boards make further announcements regarding executive succession planning.
Lungisa Fuzile, the current Regional Chief Executive for the Group’s South and Central Region, has been appointed as Interim Chief Executive of Africa Regions and Offshore, also with effect from 8 April 2025, subject to regulatory approval. Lungisa will report to Sim Tshabalala and will join the Group Leadership Council (GLC).
Sim Tshabalala, Chief Executive of Standard Bank Group, says, “Lungisa and I will work together closely as we continue to develop and execute the Group’s strategy in relation to its footprint outside of South Africa. We congratulate Lungisa as he takes on these expanded responsibilities and wish him success in his new role.”
The Shield Toronto
Africa is on the rise -Looking for growth opportunities? – Search no further. The African continent is on the cusp of transformative growth, with blossoming entrepreneurship and plenty of opportunities for smart and simple business solutions. Africa is a 1.2bn-person market, a number expected to double over the next 30 years. The continent has been gradually transformed in the past 20 years, and if you haven’t noticed you are not alone. Generally, business leaders tends to overestimate the challenges of doing business in Africa and underestimate the size and potential on the African continent. Thereby not stating that the African markets are easy to do business in, but emphasising that they are worth the effort, and companies not engaged in African markets risk losing out on one of the 21st century’s great growth opportunities.