Current chairman of Absa Group Mr. Sello Moloko
Absa Group has announced that its Chairman, Mr Sello Moloko, will step down from the role on 15 July 2025. He will also leave his position as an Independent Non-Executive Director of the Board.
Mr Moloko said he is stepping down to focus on his family, community work, and personal business interests.
He joined Absa Group during a period of major change and has helped guide the company through important decisions.
During his time as Chairman, Absa appointed a permanent Chief Executive and began restructuring its retail banking model.
These efforts were aimed at strengthening the company and setting it on a better path for the future.
“It has been a great privilege to serve as Chairman of Absa Group,” Mr Moloko said. “Now I must turn my attention to other responsibilities. The time is right for new leadership to take over.”
Absa Group has named Mr René van Wyk as the incoming Chairman, subject to regulatory approval. He will take over on 15 July 2025.
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| Mr. René van Wyk, a new chairman of Absa Group |
Mr van Wyk has a long history with the banking sector. He was the interim Group Chief Executive at Absa in 2019. He returned to the Board as a Non-Executive Director in August 2020 and later became an Independent Non-Executive Director.
He currently chairs two key committees: the Group Risk and Capital Management Committee and the Group Credit Risk Committee.
He is also a member of other board committees and has deep experience in financial regulation.
He is a former Registrar of Banks in South Africa and also served as CEO of Imperial Bank.
“I am honoured to take on this role at an exciting time for Absa,” said Mr van Wyk. “The Group is in a strong position, and I look forward to working with the team to support its growth. I thank Mr Moloko for his leadership and look forward to a smooth handover.”
The Absa Group Board has thanked Mr Moloko for his leadership and support during a crucial time in the company’s journey.
The Board also welcomed Mr van Wyk and expressed confidence in his ability to lead Absa into the future.
