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History chooses its people, says Basa’s new CEO Bongiwe Kunene
“History chooses its people.” You don’t need too much insight to get the context of these words from a woman with arguably one of the toughest jobs in South African business. Bongiwe Kunene is the new head of the Banking Association of South Africa – replacing veteran Cas Coovadia. She is walking straight into a banking world dogged by junk status, poor growth and COVID-19.
Wed, 01 Apr 2020 17:44:31 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Bongiwe Kunene's background in banking, development finance, and the public sector has prepared her for the tough times ahead in her role as CEO of the Banking Association of South Africa.
- South African banks are under pressure to support the government's efforts and promote inclusive growth during a challenging economic landscape, particularly impacting young black entrepreneurs.
- Kunene emphasizes the importance of swift and decisive action by banks, such as providing debt relief and economic support, as well as focusing on succession planning to groom the next generation of banking leaders.
Bongiwe Kunene, the new CEO of the Banking Association of South Africa, is stepping into her role during tumultuous times for the banking industry in the country. With a background in banking, development finance, and the public sector, Kunene brings a wealth of experience to the table. She has previously worked with Standard Bank and the World Bank, as well as in the presidency and national treasury. Kunene's international exposure includes dealing with crises such as the Asian financial crisis in 1999 and the global financial crisis in 2008. Despite the challenging timing of her appointment, Kunene is ready to face the tough times ahead. South African banks are under increasing pressure to support the government's efforts amid the COVID-19 pandemic and economic downturn. Kunene emphasizes the importance of inclusive growth and the role banks play in job creation. She acknowledges the struggles faced by young black entrepreneurs in the country and highlights the need for banks to support them during these difficult times. South African banks have already taken steps to provide debt relief and economic support to customers, demonstrating a swift and decisive response to the current challenges. When it comes to succession planning, Kunene intends to leverage the expertise of the existing team at the Banking Association and focus on guiding and leading effectively. She plans to prioritize skills building and grooming the next generation of banking leaders.
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