Standard Bank Names First Black Woman as Chair of Lender

Standard Bank Group Ltd. has named a female Black person to chair Africa’s biggest lender by assets for the first time.

Nonkululeko Nyembezi has been appointed as Chairman-designate effective June 1, according to a statement on Tuesday. She replaces Thulani Gcabashe, who will retire after the annual general meeting on May 31.

Nonkululeko Nyembezi

Source: Standard Bank Group Ltd.

“It is hugely significant to us that the Standard Bank will shortly have its first female chairman, and that this chairman is a black African woman,” Chief Executive Officer Sim Tshabalala said.

Nyembezi has previous served as chairman of the JSE Ltd., South Africa’s main …