SELLO MOLOKO TO RESIGN AS ABSA GROUP CHAIR ON JULY 15, RENE VAN WYK NAMED CHAIRPERSON

Absa Group has announced that its Chairman, Sello Moloko, will step down from his role on July 15, 2025. Moloko is leaving to focus on personal interests, including family, community involvement, and private business ventures. His leadership saw key changes at the bank, including a CEO transition and restructuring within the retail division.

René van Wyk, a current board member and former interim CEO, has been appointed as Moloko’s successor, pending regulatory approval. Van Wyk has served on the board since 2020 and brings extensive experience in banking leadership. He expressed his commitment to advancing Absa's strategic priorities alongside its executive team.

This transition comes amid broader leadership shifts within Absa, including the early retirement of CEO Arrie Rautenbach and the appointment of Charles Russon as interim CEO in April 2025.