Absa CEO Daniel Mminele made millions of rands
photo source: Flickr

Nedbank appoints Daniel Mminele as new chair

According to Nedbank, Mminele will be contributing his significant banking and financial services experience.


Absa CEO Daniel Mminele made millions of rands
photo source: Flickr

Nedbank announced the appointment of former ABSA CEO, Daniel Mminele as chairperson and an independent non-executive director.

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Mminele will succeed Mpho Makwana, who was appointed as the new chairperson of the Eskom board in September last year.


Makwana will officially retire from Nedbank at their annual general meeting in June.

The appointment comes two weeks after he stepped down as the head of the presidential finance task team. Mminele also served as chair of Alexander Forbes but submitted his resignation from the role with effect from 30 April.

In a statement released on Wednesday, the boards of Nedbank Group and Nedbank said Mminele has great banking and financial services experience.

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In 2021, Mminele quit as Absa CEO following clashes with the board on how to carry out the bank’s strategy. 


The bank’s Lead Independent Director, Hubert Brody said his appointment follows a process that started early in 2022.

“Nedbank Group and the board are pleased to announce Daniel’s appointment and the group will benefit from his vast expertise and experience in banking and financial services,” he said.

He added that the Nedbank Group will have the benefit of a ‘smooth handover’ in the chairperson’s office.

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Mminele said he was honoured by the appointment.

“I am looking forward to working with board colleagues, the management team, employees, and our broader stakeholder community as we deliver on strategic commitments and ambitions in line with Nedbank’s track record as a purpose-driven organisation.”

His appointment at Nedbank is effective from 1 May, as reported by Network24.