The new CEO of South Africa’s Absa, Daniel Mminele has the mandate to review strategy and make changes if needed, as the lender reported a three per cent rise in full-year profit and pushed back the timeline for meeting a key target.
Mminele took over the bank, which has been trying to improve performance since splitting from its parent Britain’s Barclays in 2017, and a lingering question has been whether he would continue with the strategy set by long-time Absa boss Maria Ramos before her departure last year.
