African Bank has announced the resignation of Group Chief Financial Officer Anbann Chetti, adding to a string of senior leadership changes at the financial institution.
Chetti’s resignation took effect on 11 September 2026, coming just six months after the departure of former chief executive officer Kennedy Bungane.
The latest executive exit comes at a sensitive time for African Bank, which has faced questions around leadership continuity, regulatory reporting and governance.
Another senior executive departure
In a statement, African Bank confirmed Chetti’s departure and said Given Mabena has been appointed as acting Group CFO, subject to the necessary regulatory approval.
Chetti will also step down from several board committees as part of his departure.
The bank did not immediately provide detailed reasons for Chetti’s resignation.
His exit follows Bungane’s departure earlier this year, further changing the composition of the bank’s executive leadership.
African Bank is currently led by interim CEO Zweli Manyathi, who has taken the helm during another period of transition.
Leadership changes raise questions
Manyathi is the fourth person to serve as chief executive of African Bank in the past eight years, highlighting the level of turnover at the top of the organisation.
The departures of both the CEO and CFO within a relatively short period are likely to draw further attention to the bank’s governance and leadership stability, particularly as it works to strengthen its position in South Africa’s competitive banking sector.
African Bank has historically positioned itself as a challenger bank focused on serving underserved consumers and expanding access to financial services.
The institution emerged from the restructuring of the former African Bank following its 2014 collapse and has since undergone significant efforts to rebuild its balance sheet, governance structures and reputation.
Regulatory concerns add to pressure
The latest leadership shake-up also comes against the backdrop of previous regulatory concerns.
The Prudential Authority has previously raised issues relating to reporting errors connected to the implementation of Basel 3.1, the international banking capital and risk framework designed to strengthen the resilience of financial institutions.
Against this backdrop, changes involving senior executives responsible for financial reporting and governance are likely to receive close scrutiny.
For a bank still working to reinforce confidence among customers, investors and regulators, leadership stability remains an important part of that process.
Who is Anbann Chetti?
Chetti served as African Bank’s Group CFO, placing him at the centre of the institution’s financial management, reporting and broader financial strategy.
As CFO, his responsibilities included overseeing the bank’s financial affairs and supporting the executive leadership team on financial and regulatory matters.
His departure therefore represents more than a routine executive change, particularly given the bank’s recent history of leadership transitions and regulatory scrutiny.
African Bank will now rely on Mabena to oversee the finance function while it awaits regulatory approval for the acting appointment.
The latest development leaves the bank navigating another senior leadership transition as it seeks to maintain operational stability and restore confidence in its governance and reporting processes.
