Absa Group Welcomes Alpheus Mangale as Independent Director, Bolstering Leadership Expertise

• Alpheus Mangale appointed as an independent non-executive director of Absa Group, effective from 1 July 2023.
• Mangale brings over 25 years of experience in financial services, telecoms, and technology sectors across Europe, the Middle East, and Africa.
• Mangale will join the Group Risk and Capital Management Committee (GRCMC) and the Information Technology Committee (ITC), contributing to strategic decision-making and oversight.

Absa Group Limited recently announced the appointment of Alpheus Mangale as an independent non-executive director, effective from 1 July 2023. This strategic move reflects Absa Group’s commitment to enhancing its leadership and governance structures.

Alpheus Mangale brings with him a wealth of experience, boasting over 25 years in senior executive roles across the financial services, telecoms, enterprise, and technology sectors in Europe, the Middle East, and Africa. Currently serving as the group chief executive officer for Seacom Limited, Mangale has previously held various board positions and undertaken leadership roles within the financial services and technology industries. His diverse expertise is poised to contribute significantly to the growth and development of Absa Group.

A graduate of Tshwane University of Technology with a National Diploma in Computer Systems Engineering, Alpheus Mangale has furthered his education through the completion of the Advanced Management Programme at Harvard Business School. This educational background, combined with his extensive industry knowledge, positions him as a valuable addition to the Absa Group board.

Upon joining Absa Group, Alpheus Mangale will become a member of two key committees: the Group Risk and Capital Management Committee (GRCMC) and the Information Technology Committee (ITC). These committees play pivotal roles in overseeing risk management, capital allocation, and technology-driven initiatives, ensuring the Group’s long-term sustainability and competitive edge.

In addition to Alpheus Mangale’s appointment, several other changes to the Group Board committees will take effect on 1 July 2023. Sello Moloko, the Group Chairman, will join the Board Finance Committee (BFC), while Swithin Munyantwali will assume a role in the Group Credit Risk Committee (GCRC). Fulvio Tonelli, who will begin serving as an independent non-executive director, will transition from the Information Technology Committee (ITC) to the Group Audit and Compliance Committee (GACC).

These modifications in committee memberships underline Absa Group’s commitment to robust corporate governance practices and the inclusion of diverse expertise within its leadership teams. By attracting accomplished individuals with proven track records and industry-specific experience, Absa Group aims to strengthen its ability to navigate the dynamic financial landscape and deliver exceptional value to its shareholders.