New CEO for major South African bank that plans to retrench 1,200 workers and close 90 branches

African Bank has confirmed the appointment of Zweli Manyathi as its Group CEO, a role he had held on an interim basis since March. The bank also plans to retrench 1,200 workers and close 90 branches as part of a restructuring strategy. These measures are aimed at improving operational efficiency and financial performance.

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