ABIL - NEW EXECUTIVE APPOINTMENT
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
Share code: ABL
ISIN: ZAE000030060
(`ABIL` or `the group`)
NEW EXECUTIVE APPOINTMENT
Towards the end of 2003 ABIL established an innovation division to develop new
initiatives aimed at significantly increasing the group`s competitiveness. The
group has announced the following changes in this division with effect from 17
January 2005:
- Executive director Johan de Ridder has been given the mandate to research
the micro finance and consumer finance industries worldwide and establish
linkages with similar businesses in other countries. This will ensure that
ABIL becomes globally benchmarked and develops best of breed technologies
to reinforce the competitive positioning of this group. In addition, Johan
will together with Tami Sokutu continue to be actively engaged in issues
related to regulatory/legislative changes, including the proposed new
National Credit Bill.
- Charles Chemel has joined the Group Exco as an executive member in charge
of innovation in the domestic markets. The mandate of this unit is to
explore new growth and expansionary strategies in the credit markets.
Charles brings with him extensive banking experience, which includes a
secondment last year to the Banking Council to coordinate the design and
implementation of low-income access initiatives for the industry as
envisaged by the financial sector charter. This included low income
housing and led to the establishment and roll out of the new Mzansi bank
account.
Sandton
17 January 2005
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 17/01/2005 04:40:14 PM
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