| Mon 12 Mar 2012, 15:59 | | BIDBS - Development Bank of Southern Africa Limited - Resignation of DBSA Chief |
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JSE
BIDBS
BIDBS - Development Bank of Southern Africa Limited - Resignation of DBSA Chief
Executive Officer
Development Bank of Southern Africa Limited
(Incorporated in the Republic of South Africa in terms of the
Development Bank of Southern Africa Act, No. 13 of 1997)
Company code: BIDBS
("DBSA")
SENS Announcement: RESIGNATION OF DBSA CHIEF EXECUTIVE OFFICER
The DBSA Board regretfully announces the resignation of Mr Paul Baloyi, the
Chief Executive of the Development Bank of Southern Africa. Mr Baloyi will be
leaving the DBSA to pursue personal interests. Mr Baloyi joined the Bank in 2006
and, under his stewardship, the DBSA has seen significant improvements in its
operations as well as a major expansion in the Bank`s scope of activities, thus
enhancing the DBSA`s developmental effectiveness and standing as a leading
development finance institution. Mr Baloyi`s resignation will take effect as of
31st March 2012, where-after he will hand-over to Mr TP Nchocho, Group
Executive: Investment Banking, who has been appointed as Acting Chief Executive
Officer as from 1st April 2012. However, in order to facilitate a smooth hand-
over, Mr Baloyi will continue to provide whatever support the Acting Chief
Executive Officer may require, during April.
The Board would like to express its deep appreciation for the contribution of Mr
Baloyi to the DBSA and wishes him well in his future endeavours.
Further Enquiry Ms Sinazo Sibisi,
Group Executive: Strategy, Marketing and Communications.
Tel: 011 313 3656.
12 March 2012
Date: 12/03/2012 15:59:06 Produced by the JSE SENS Department.
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