Absa Group, a major shareholder of Absa Bank Botswana has announced the appointment of a new Chairman. Sello Moloko is set to take the reigns as a Chairman-designate on 1 December 2021, and ultimately a Chairman in 1 April 2022.
The appointment is in light of the end of a term for the current Chairman, Wendy Lucas-Bull. Lucas-Bull has been the Group Chairman for nine (9) years now, a position she served in as an independent director.
“I am honoured by the opportunity to join Absa. As one of the largest banks on the continent, Absa can support the economic growth of our continent in a significant way. I have been inspired by the way in which Absa has evolved into a strong, standalone African bank that is recognisable across the continent. I commend the Board and executive team for this accomplishment, and I look forward to being part of the company’s future journey.” said Moloko.
Sello has a career spanning close to 30 years in the financial services industry. He is a former CEO of Old Mutual Asset Managers. Thereafter, he founded Thesele Group, an investment holding company where he is the Executive Chairman. He has served as Chairman on the boards of Alexander Forbes Group Holdings Limited, Sibanye-Stillwater Limited and General Reinsurance Africa Limited (a Berkshire Hathaway company), among others. He is also a trustee of the Nelson Mandela Foundation. He currently serves as Chairman on the board of Telkom SA SOC Limited and Momentum Metropolitan Holdings Limited. He will relinquish his role on the Momentum Metropolitan Board prior to joining the Absa Group Board.
Sello holds a BSc with Honours in mathematics and a Post Graduate Certificate in Education (PGCE) from the University of Leicester in the UK. He has completed various business courses, including the Advanced Management Program from the Wharton Business School.
Welcoming the incoming Chairman, the outgoing Chairman, Wendy, asserted, “We are delighted to welcome Sello to the Absa Board. He brings extensive experience as a leader in the financial services industry, with a proven track record as an executive, entrepreneur and a board member at companies across several industries”.
