By Lehlohonolo Lehana.
Absa Group chief executive officer (CEO) Kenny Fihla has formally assumed the chairmanship of the Banking Association South Africa (BASA).
The BASA chairmanship is traditionally determined through an internal voting process by its board of directors, a structure composed of the country’s most senior banking executives.
Fihla succeeds Mary Vilakazi, chief executive of FirstRand. He had previously served as deputy to Vilakazi on the board.
Basa says Fihla’s appointment reflects the banking sector’s “collective responsibility” to work collaboratively in support of a “stable, resilient and inclusive financial system”.
According to the association, the role provides an opportunity to advance constructive engagement across the industry.
Fihla joined Absa in mid-2025 from Standard Bank Group, where he served as deputy CEO of the group and CEO of its South African operations.
The South African banking sector remains highly concentrated. According to recent market analysis, the country’s six largest banks control approximately 93 per cent of the industry’s multitrillion-rand asset base.