By Lehlohonolo Lehana.
African Bank Limited and African Bank Holdings have announced that Anbann Chetti has resigned as Group Chief Financial Officer (CFO), effective 11 September 2026.
Chetti also steps down as an executive director from the boards of African Bank Limited, African All Cover Limited and African Bank Holdings Limited, and relinquishes his seats on the Assets and Liabilities Committee, the Special Projects and Large Exposures Committee, the Model Risk, Capital and Funding Crisis Committee, the Capital Raising Committee, and the Macro-Economic sub-committee, the group said in a joint SENS announcement.
Chetti’s departure is the second senior executive exit at African Bank inside six months. Chief executive Kennedy Bungane was ousted in March 2026 following regulatory filing missteps, with interim chief executive Zweli Manyathi stepping in to replace him.
The board has appointed Given Bhutana Mabena as acting group CFO, to manage the finance function during the search for a permanent replacement.
Mabena, a chartered accountant with an MBA from the University of Witwatersrand, brings 13 years of finance and business experience. He completed his executive education at IMD Switzerland and London Business School. Previously, he spent eight years at Deloitte in audit and assurance roles.
His background spans IFRS financial reporting, consolidation, taxation, and financial planning and analysis. He has experience managing credit risk, portfolio performance, and collections across retail and unsecured lending, card operations, and payment schemes.
Mabena has also handled capital resource management, regulatory reporting to the South African Reserve Bank, and credit modeling and pricing optimisation.
African Bank is privately held. Its major shareholders include South African Reserve Bank (holding 50%), the Government Employees Pension Fund/Public Investment Corporation (holding 25%), and a consortium of major South African commercial banks.