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 permanent Group CEO, who will oversee the bank's restructuring plans, including the potential retrenchment of 1,200 workers and closure of 90 branches.
• Manyathi brings over 40 years of experience in retail, business, and commercial banking, having previously held executive positions at Standard Bank and FNB.
• The bank's restructuring plans have sparked concerns among employees and customers, with some fearing job losses and branch closures could have a negative impact on the local economy and financial services industry.