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Sello Moloko, Teacher Turned Entrepreneur, Newly Appointed ABSA Chairman Graces Forbes Africa Magazine Cover

Sello Moloko who has strong passion for teaching before becoming a multifaceted entrepreneur, graced Forbes Africa April/May 2022 magazine cover shortly after his appointment as an independent non-executive director and Chairman-designate at Amalgamated Banks of South Africa (ABSA) with effect from 1st of December 2021.

Sello teaches, train and educate women and those in disadvantage communities on the importance of entrepreneurship under the Thesele Foundation

Sello Moloko commenced the role as Absa Group Chairman on 1st of April 2022.

Sello replaced Wendy Lucas-Bull who has stepped down on 31 March 2022, which marks the end of the nine-year period during which Wendy would have served as an independent director and as Chairman of the Absa Group Board. Absa advised of the chairman’s impending retirement in October 2020.

Lucas- Bull Wendy said, “We are delighted to welcome Sello Moloko to the Absa Board. He brings extensive experience as a leader in the financial services industry, with a proven track record as an executive, entrepreneur and a board member at several companies across several industries.”

Sello has a career spanning close to 30 years in the financial services industry. He is a former CEO of Old Mutual Asset Managers. Thereafter, he founded Thesele Group, an investment holding company where he is the Executive Chairman.

He has served as Chairman on the boards of Alexander Forbes Group Holdings Limited, Sibanye-Stillwater Limited and General Reinsurance Africa Limited (a Berkshire Hathaway company), among others. He is also a trustee of the Nelson Mandela Foundation.

He currently serves as Chairman on the board of Telkom SA SOC Limited and Momentum Metropolitan Holdings Limited.

Sello said, “I am honoured by the opportunity to join Absa. As one of the largest banks in the continent, Absa can support the economic growth of our continent in a significant way, I have been inspired by the way in which Absa has evolved into a strong, standalone African bank that is recognisable across the continent. I commend the board and executive team for this accomplishment and I look forward to being part of the company’s future journey.”

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