AFRICAN BANK HOLDINGS LIMITED - ABKI ABLI CHANGES TO THE BOARD OF AFRICAN BANK LIMITED AND AFRICAN BANK HOLDINGS LIMITED

ABKI ABLI CHANGES TO THE BOARD OF AFRICAN BANK LIMITED AND AFRICAN BANK HOLDINGS LIMITED

AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
LEI: 2549008X8SL1B1J86F98
Company code: ABKI
(the “Bank” or “African Bank”)

AFRICAN BANK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No.: 2014/176855/06)
Company code: ABLI
LEI: 254900UUEMIK0XL5A056
(“ABHL” or the “Group”)


CHANGES TO THE BOARD OF AFRICAN BANK LIMITED (“ABL”) AND AFRICAN BANK
HOLDINGS LIMITED (“ABHL”): CONFIRMATION OF APPOINTMENT AS GROUP CHIEF
EXECUTIVE OFFICER AND APPOINTMENT TO BOARD COMMITTEES

Shareholders are referred to the announcement released on the Stock Exchange News
Service (SENS) on 6 March 2026, wherein the appointment of Mr Zwelibanzi (Zweli) Nelson
Manyathi as interim Chief Executive Officer (“CEO”) of ABL and ABHL was announced. In
accordance with paragraph 6.42(c) of the JSE Limited Debt and Specialist Securities Listings
Requirements, noteholders are hereby advised that following the conclusion of the requisite
regulatory processes, Mr Manyathi’s appointment as the Group Chief Executive Officer,
member of the Social, Ethics and Transformation Committee (“SETCOM”), member of the
Macro-Economic Sub-Committee (“MEC”) and member of the Special Projects and Large
Exposures Committee (“SPLEC”) of the Boards of Directors of African Bank Holdings Limited
and African Bank Limited (“Board”) has been confirmed effective 25 August 2026, being the
date on which approval from the Prudential Authority was received. Furthermore, Mr
Manyathi will step down as a member of the Model Risk Sub-Committee of the Board.

The appointment follows the ongoing review by the Directors’ Affairs and Governance
Committee of the composition of the Board, its Board Committees and Sub-Committees,
including succession planning considerations and it is intended to support alignment with
strategic priorities and sound Corporate Governance practices.
Mr Manyathi was appointed to the African Bank Boards in September 2022 as an executive
director and Chief Executive: Business & Commercial. Mr Manyathi holds a Bachelor of
Commerce (B Com) (Hons) (Financial Management), completed through the University of
South Africa (UNISA). In addition, he completed a Senior Executive Programme (SEP) through
both Wits’ and Harvard’s Business Schools, as well as a Professional Development Programme
(PDP) through the City University of New York. He brings extensive strategic leadership and
execution capability; leadership of large-scale and complex business portfolios; extensive
banking and commercial expertise; turnaround and transformation experience; stakeholder
and regulatory engagement capability; and governance and board exposure.
Mr Manyathi is a seasoned and respected banking executive with over 40 years’ experience
across retail, business, and commercial banking with leading financial institutions where he
held various executive leadership roles in the banking sector. He was CEO of Business and
Commercial at Standard Bank, where he oversaw strategic direction and contributed to
financial service delivery. Prior to this he held numerous executive and senior positions
some of which were, CE: FNB Branch Banking, CE: FNB Corporate Banking, supporting
banking service expansion and driving organisational performance.
The Board is confident that Mr Manyathi possesses the requisite knowledge, skills,
experience and qualifications to fulfil the responsibilities of Chief Executive Officer and to
discharge his duties as an executive director of the Company. The appointment supports
continuity within a strategically critical executive role and aligns to the Group’s broader
leadership continuity and succession planning framework. The Board has previously
considered executive continuity requirements within the context of succession planning and
as such Mr Manyathi was an immediate successor to the Group Chief Executive Officer role.


26 August 2026

Debt Sponsor
The Standard Bank of South Africa Limited

Date: 26/08/2026 13:49:00
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