profile booklet - bankseta.org.za ExpansionInternational... · the Africa Executive Development Programme is aimed at shaping leadership in banking and strives to ... Zanaco and FNB

enabling skills development in the banking and microfinance sector

profile booklet

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bankseta backgroUndThe Banking Sector Education and Training Authority (BANKSETA) is a statutory body established through the Skills Development Act 97 of 1998 as amended by the Skills Development Act 26 of 2011 to enable its stakeholders to advance the national and global position of the banking and microfinance industry. As guided by its mandate, the BANKSETA is as such an agent of transformation and seeks to promote employment equity and Broad- Based Black Economic Empowerment through skills development.

visionTo position the SETA as a thought leader and partner of choice in driving the skills development and training agenda.

missionTo be recognised as a centre of excellence and innovation for skills development in the broader banking and microfinance sector.

To support transformation and people development and through partnerships, to enable stakeholdersto advance the national and global position of the broader banking and microfinance sector.


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proJect backgroUndThe Banking Sector Education and Training Authority (BANKSETA) is mandated with the responsibility to support the growth of the banking industry by ensuring that relevant and appropriate skills are available to meet the skills demands of the sector.

Once again, the BANKSETA has innovatively encouraged collaboration efforts in skills development beyond the borders of South Africa by facilitating an intervention that will promote skills transfer amongst countries in Africa. The BANKSETA’s flagship project, the Africa Executive Development Programme is aimed at shaping leadership in banking and strives to create a sustainable banking sector where access to banking services is available to all. This calls for a paradigm shift from a situation where banking is no longer elitist and exclusionary, but a mechanism to ensure financial inclusion becomes a reality on the African continent.

This project was developed through the collaborative efforts of ABSA, First Rand, Nedbank and Standard Bank. The Africa Expansion Steering Committee was established to provide invaluable contribution through the sharing of knowledge and expertise that will ultimately result in the further shaping of the African banking sector.

At the 2016 Global African Diaspora Summit, the Honourable Minister of International Relations, Ms Maite Nkoana Mashabane, aptly titled her presentation ‘Africa Rising’ and made the following statements: ‘When Africa calls, we must place ourselves strategically and find time to reflect, look back and open engagements on issues of development within the context of our socio-economic and political development trajectory. It is our responsibility to stand as one, in unison, to engage on discussions that would later be translated into solutions on how we would want to advance the course of Africa’s development, and to position ourselves, the continent, as well as the African Diaspora, in a way that makes us shine. It is our call. It is our choice.’

This project is a journey focused on learning from each other on issues that influence leadership within the banking industry in Africa. It is hoped that this project which aims to grow tacit knowledge in leadership and banking will also contribute to the generation of new knowledge content for banking on the African continent.

Duke Corporate Education was appointed as the institution of higher learning that would ensure the delivery of the academic component as well as other related logistics for the project.

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head: business and commercial banking first rand Zambia Zambiaarea of expertise: (theme) future focus

Yokoniya Ngoma has broad experience in commercial banking. In a career spanning over 12 years, he has worked for Barclays Bank, Zanaco and FNB Zambia Limited.

He has previously worked as an Analyst and Relationship Manager. In 2012 he specialised in agricultural finance and setup the FNB Agribusiness Unit. Yokoniya moved to the Core Commercial department in June 2014 and managed the Business Banking team there.

Currently, he is Head of Business and Commercial Banking. Yokoniya manages the Core Commercial, Agribusiness, Specialised Finance, SME and Vehicle and Asset Finance teams. His objective is to obtain sustainable asset, liability and profitability growth by acquiring new relationships and ongoing portfolio management of customers across business & commercial segments through:

• Devising strategies around customer retention, service delivery and healthy credit management• Executing activities within risk and compliance requirements• Ensuring the bank’s brand values are upheld and practiced by all.

Yokoniya has a Bachelor of Science degree in Economics from the University of Namibia.

YokoniYa ngoma


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Chief Operating Officer MBCA Banknedbank Zimbabwearea of expertise: (theme) future focus

McMillan has 16 years’ working experience in the banking sector, with fourteen years having been spent in the accounting field. He is currently responsible for bankwide operations, support, projects and ICT.

He has experience in Financial Reporting, Management Accounting, Regulatory Reporting, Project Management, Payments, Compliance and General Management. He has a Bachelor of Accountancy degree from the University of Zimbabwe, a Master in Business Leadership degree from UNISA and is a qualified Chartered Accountant. He also holds a diploma from the Institute of Banking in Zimbabwe.

mcmillan nYagomo

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We have travelled across Africa before, but when we went on a journey across Africa as part of the Africa Expansion Programme with BANKSETA, the way we saw and experienced Africa was different.

The world of banking is continually changing and has already moved significantly. One of the key developments is the arrival of the millennial generation who grew up in the digital age; their lives evolve around the mobile phone. They have a different worldview, and have grown up in a time of rapid change, giving them a set of priorities and expectations sharply different from previous generations. In one of its publications, the African Development Bank (AfDB) stated that 40% of Africa’s population is below 15 years old and more than 60% is under the age of 25. These statistics clearly show that millennials cannot be ignored. Although they do not hold most of the wealth in Africa currently, they will form most of the customer base in the near future.

From walking the streets of the countries we visited during the programme, most of the millennials in Africa are unemployed. Most African governments are undertaking youth empowerment initiatives aimed at improving their economic status. Smartphone penetration is anticipated to exceed 500 million by 2020 in Africa. What we also picked up is that the African millennials are also global and connected. From a study conducted by Ernest & Young, millennials believe 53% of millennials (globally) think that banks do not offer anything unique; they feel they are not understood; 23% of them cited in the survey, claimed that the lack of mobile app is the main barrier to bank engagement. An Executive from one mobile payment Fintech company stated that the current African millennials are not rich and profitable enough for banks. However, they saw this as an opportunity and came up with a cost effective model for mobile money transfer.

topic: The Bionic Bank, Africa’s Solution to Ensuring They Remain Relevant to Millennialsauthors: Yokoniya Ngoma and Mcmillan Nyagomo

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A group of university students that we interviewed in Mauritius, who fit in the category of the young millennials, advised that they want simple and fast banking, from a bank with digital platforms and some human touch. Unfortunately, the issue remains, how much focus are African banks putting into understanding the interaction between its future customers and employees, the millennials, and what we need to start focusing on to ensure that the banking industry remains relevant to the millennials in the future.

Based on the need to provide millennials with simple, fast and cost effective banking solutions, with added services like personalised financial assistance, African banks should invest in technology. Therefore, our recommendation from our African journey is that African banks need to start working toward a Bionic Bank, which is a hybrid banking experience that is based on mobile banking and digital as the primary user interface that links banking to the lifestyle of the customers with social integration. African banks will need to become bolder in embracing blockchain, machine learning, gamification and other emerging new trends to become

more efficient and enhance customer experiences and remain relevant to the future generations. The value proposition for the Bionic Bank combines human judgement with data power.

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finance director barclays bank mauritius limited mauritius area of expertise: (theme) global risk

Franco is the Finance Director of Barclays Bank Mauritius and sits on the Board of Directors of the institution. He is a leader with proven capabilities and is often cited as an example for colleagues to emulate as he started out as a Clerk and climbed the corporate ladder to become a Director.

Franco has worked on international assignments in Mozambique, Seychelles and South Africa. He is on the Barclays Bank talent list and his expertise is often solicited by regional and group offices.

In addition to excellent technical skills, communication and interpersonal skills and negotiation skills, Franco has great emotional intelligence and strategic planning capabilities. He has worked on regional restructuring projects and human capital management initiatives.

Franco graduated with a Bachelor of Science (Honours) degree in Financial Services from the University of Manchester in October 2003 and has been an Associate of the Chartered Institute of Bankers since January 2004.

franco davis


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risk appetite and stress testing africa region standard bank group south africa area of expertise: (theme) global risk

Varsha is responsible for the implementation of risk appetite and stress testing across Standard Bank’s African entities. She started working in the banking sector in 2006. Varsha has extensive experience in the risk and finance areas which she has leveraged in the Treasury and Capital Management space over the last five years. Her skills include risk appetite, stress testing, capital management, financial planning, financial modelling and integrated/enterprise risk management. Varsha studied Accounting at the University of the Witwatersrand and is a qualified Chartered Accountant.

varsha ranchod

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A key risk in the global landscape is cyber risk. With African economies well positioned in terms of rapidly accelerating technological change the continent is not immune to cyber threats. Fears of major cyber-attacks on African banks have been rising. So why are banks such a lucrative target for cyber-crime? The answer is simple, cyber criminals go where the money is, and banks have more money than most other organisations.

Globally the number of attacks on financial institutions has increased with sophistication and impact. Financial institutions faced cyber-attacks every 39 seconds in 2016. According to EY, in 2015, the estimated financial impact of cyber events exceeded $500bn. The cyber security threats range in sophistication from malware (viruses and Trojans) to ransomware and Advanced Persistent Threats.

Africa is vulnerable to these attacks, with local cyber criminals becoming more sophisticated. The Africa Cyber Security Report 2016 ranks banking as the leading risk sector, stating in the report “The interconnection and complexity of modern

banking systems has led to greater exposure to internal and external cyber security threats and concerns around data security and privacy across virtual borders”. The estimated cost of cyber-crime in Africa has soared, with losses amounting to $500 million in South Africa, $550 million in Nigeria, $175 million in Kenya, $85 million in Tanzania, $50 million in Ghana and $35 million in Uganda. Financial institutions have been hard hit in the last 18 months. Key attacks on financial services sector in Africa have ranged from insider threats, malware and ATM jackpotting.

The threat landscape continues to evolve and change is the one constant. Cyber risk will remain pertinent for a while, and will continue changing and evolving at a fascinatingly fast pace. Recent events suggest that the hackers are one step ahead of the banks in this rapidly evolving space. Cyber resilience is crucial in managing this risk.

Cyber Resilience is expensive due to resources (people, software and infrastructure) involved. Although many companies have adopted to include cyber risks and technology

topic: Cyber Risk an Emerging Threat for the Banking Sector: “Why African Banks Must Focus More on Cyber Risk”authors: Franco Davis and Varsha Ranchod

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topic: Cyber Risk an Emerging Threat for the Banking Sector: “Why African Banks Must Focus More on Cyber Risk”authors: Franco Davis and Varsha Ranchod

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as part of their strategy, companies find it difficult to cope with the ever-changing trends and environments in cyber risks. Companies could therefore spend substantially more on customer protection instead of investment in new innovative products and services. According to KPMG cyber security experts, more collaboration is essential in combating cyber threats to share threat intelligence and share lessons learned from attacks. KPMG conducted a survey with major European corporate companies. The survey revealed that 88% of corporate companies in Europe now collaborate extensively to combat cyber threats.

As such, it is crucial for companies across Africa to collaborate in the same manner. Through our research and during the programme it was noted that there are a number of individual African countries collaborating with international countries, however intercontinental collaboration is not sufficiently established. The African Union issued a Convention on cyber security in 2014. The Convention creates a legislative framework for cyber security and data protection in the African region. So far, only eight countries have signed the Convention, with only Senegal reported as having ratified the Convention in 2016.

Banks are known for confidentiality, however there is a need for collaboration across banks in the cyber security space. Collaboration can take the form of a common repository of data on cyber-attacks, disclosing key details of the attacks, namely

attacker details, the method of the attack, the response and the impact. This repository could be complied by experts in cyber surveillance and accessibility can be open to all African banks. By having real time data on attacks, banks can protect themselves better and avoid a systemic issue in the banking sector.

A key element to cyber security is the right talent and resources. More highly skilled workers in cybersecurity roles would help organisations respond more robustly to the cybersecurity problems it faces. There are many indications today that the demand for cybersecurity workers will continue to be high, but it is notoriously difficult to measure or forecast labour supply and demand for any field, especially one that is as dynamic and fast moving as cybersecurity. Africa’s workforce is increasing and therefore these advancements are key in the consideration of employment in the IT security space and its impact on the economy. African financial institutions need to find innovative ways to recruit and train staff in the cyber security space.

Cyber security is big money and spending on information security is expected to reach $90 billion in 2017, an increase of 7.6 percent over 2016, and to top $113 billion by 2020. Per the Kapersky report, banks and otherfinancial institutions spend three times the amount non-financial organisations are spending on cyber security.

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Spending on enhancing detection and response capabilities will likely be a key priority for security buyers through to 2020. In 2016 an Africa cyber security survey conducted by SERIANU reflected that 96% of African organisations spend less than $5000 on cyber security annually. A key finding was that financial intuitions do not seem to be spending nearly enough on cyber security.

Many argue that Africa has more pressing problems than cyber-security, such as poverty, HIV- AIDS and famine to mention a few. However, the growing number of information and communication technologies for development and increasing use of technologies to provide basic access to ICTs, means that digitalisation and the 4th industrial revolution is active in Africa, and with it comes the key issue of cyber security. Africa cannot afford the large losses caused by cybercrime.

So, what is the answer for Africa and its financial institutions? We believe transparency and collaboration is important for Governments and financial institutions to succeed in their fight against cybercrime. Collaboration at a region, country and financial institution level is key.

Central banks in the Africa region understand that cyber risk is a top risk. As many central banks develop their local policies, we do believe collaboration across central banks will serve an important purpose. In order to make cyber space safer, it is necessary to understand that cyber security is not just a question of good coding but also a matter of economic incentives and the regulatory environment. Regulations play an important part in ensuring technology is an enabler in the economy rather than a disruptor. Financial institutions need to also collaborate in terms of types of attack, security measures as well as resourcing.

A secure society makes it easier for both individuals and businesses to plan their activities, which in turn boosts economic activity, as well as improves the country’s international investment appeal.

topic: Cyber Risk an Emerging Threat for the Banking Sector: “Why African Banks Must Focus More on Cyber Risk” (Continued)

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director: head of marketsbarclays bankkenya area of expertise: (theme) disruptors in banking

Anthony joined Barclays Kenya in 2001 and is currently the Head of Markets responsible for derivatives, equities, rates, fixed income and FX Sales and Trading for the bank and a member of the Country Management Committee (CMC/EXCO). Anthony holds over 16 years of extensive banking experience within the East African region and has over 12 years of experience within the Treasury and Markets Business. Previously, he was Head of Trading for Barclays Kenya. More recently, he held the position of Country Treasurer and served as a member of the EXCO for Barclays Bank of Uganda. He managed both the Treasury and Markets business with oversight over the balance sheet, interest rate, capital and liquidity risk for the business as well as the Sales and Trading business for Barclays Uganda. Anthony holds a BSc (Econ) in Business Studies degree from the University of Wales, Aberystwyth.

anthonY kirUi


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head of coveragerand merchant bank (rmb)namibia area of expertise: (theme) disruptors in banking

Sepo’s experience in the financial services sector spans across corporate and investment banking, microfinance, pension funds, long-term insurance and investment management. Sepo joined RMB in January 2015 and was previously employed at Barclays UK, Old Mutual and Standard Bank.

Her career highlights include rolling out the Old Mutual Finance initiative in Namibia as the Acting Chief Executive Officer and participating in various debt capital market deal teams which include the inaugural Namibian Sovereign Eurobond issue.

Sepo holds a Bachelor’s degree in Economics and a Master of Science in Financial Management degree.

sepo haihambo

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It appears as though the current model for income growth has fallen short of economic expectations and struggled to facilitate transformational change, since it has not been able to create a seamless way to sustain private and public sector growth in a manner that could place African economies on a new growth curve. Research done on the topic to date has often identified many factors behind the sluggish growth, but one issue that stands out is increasing regional cross border trade. Although this issue appears to be easy to resolve, that is far from the economic reality.

As one begins to delve into the matter, one quickly realises that there are valid reasons why the intra-regional trade gap in Africa is huge. According to Africa Exim Bank, the current intra-Africa trade is US$170bn, and could grow to levels of approximately US$400bn with the right framework in place.

With the rise of financial technology and constant disruptions in the world of banking, there has never been a better opportunity for banks on the continent to explore alternative systems and strategies to lead the charge in creating a revised

framework that grows regional trade to its full potential and in turn also grow the potential for trade finance.

Increasingly, margins on existing products are being reduced, as a result of increased competition and risk regulation; therefore alternative revenue models need to be explored to protect the importance of banks on the continent.

The fourth industrial revolution, although a half a century late, has presented an opportunity for Africa to resurrect key aspects of the pan African dream, and through the use of a widely adopted block chain model, technology can be used to ignite African cross border trade, placing both the private and public sectors on a new growth curve.

The rate at which mobile penetration has occurred in Africa, demonstrates that there is a widespread willingness to adopt the use of technology, particularly when technology enables a solution that addresses issues that are uniquely African.

topic: The New Model for Pan-Africanism: Empowering Africa’s Rise Through Block Chain authors: Anthony Kirui and Sepo L. Haihambo

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The Merchants of Venice relied on network economics, coordinating multiple trade expeditions from home via networks of trusted agents. A digital network that becomes enforced by the distributed ledger replaces the trust that existed between merchants and agents in Venice.

The “contractual innovation” is realised in the new Colleganza (meaning colleagueship, connection or bond) or Block chain, with the capacity to unite Africa, subsequently creating a new trade based renaissance that banks must be at the heart of.

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sales managernedbank cib property finance south africa area of expertise: (theme) property finance, sales, leadership

Ryno specialises in banking in the property industry, structuring and funding of large property development projects, leading sales and multi-functional funding teams and structuring equity positions in property transactions. Ryno’s expertise extends to business strategy and team structuring as well as enabling client growth.

He has a Bachelor of Commerce (Law) degree and an Honours degree in Economics from the University of Johannesburg. Ryno also completed a Senior Management Programme with GIBS and the BANKSETA’s International Executive Development Programme with the University of the Witwatersrand and London Business School.

rYno nel


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Chief Financial Officer first national bank tanzania limitedtanzania area of expertise: (theme) cultural intelligence

Alex specialises in financial services and has over eleven years’ experience working in the financial industry. He worked in the audit and advisory department of KPMG’s financial services division for six years and has worked as a manager in the banking sector for five years.

Alex is a dedicated and hardworking professional with the highest level of integrity and excellent communication skills. His expertise includes business strategy development, financial risk management, financial control as well as management and regulatory reporting. He is a member of the executive management committee and a permanent invitee to the Board of Directors and its sub-committee meetings.

Alex has a Bachelor’s degree in Accounting and Finance from Mzumbe University of Tanzania and a Master in Finance from Strathclyde University of Glasgow.

Alex is registered as an Associate Certified Public Accountant with the National Board of Accountants and Auditors in Tanzania (NBAA) and is also a registered fellow with the Association of Chartered Certified Accountants (ACCA).

aleX martin mZiraY

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Cultural Intelligence (CQ), the ability to interact effectively in multiple cultures, is not a skill possessed by all, yet it is becoming more important in today’s global business world. Our studies on the subject revealed that immersions in foreign cultures definitely increase the level of a person’s CQ. This study is critical for organisations that want to expand their operations in different regions in Africa. Using our experiences from four countries, we looked at CQ in four areas:

hiring people: In Mauritius, banks prefer to hire a mixture of local and expat staff. This has been a recipe that has worked well. The MD of UBA Bank in Senegal explained that gender or age doesn’t matter, but that they look for people who are dedicated and that have driven to learn and do well. “Competence, attitude and the ability to learn” were the qualities that the Mauritians, Senegalese, South African and American participants and lecturers highlighted the most.

enabling people: There are various assessment tools and learning programs available to assess and elevate levels of Cultural Intelligence. Omni Cane was a traditional sugar cane mill but the stakeholders found that their traditional markets

for their product came under threat from cheaper suppliers that mass produce products of a lower, but acceptable quality. Our visit to this business made a huge impact on all the members of this programme and no doubt a number of partners will refer to aspects of what they saw at Omni Cane in their paper and next presentation.

What was of specific interest was the fact that the stakeholders empowered everyone in the business to play a role in re-designing and adding their input in the process of saving their business and in the process of coming up with a model of ingenuity, one that we have never seen before.

street smarts: At the initial session in Johannesburg, the CEO of Alexander Forbes explained well the importance of street smarts and how this concept can be used to prove and disapprove research concepts and due diligence work performed when one wants to invest in a new country. His main concept was “lead with street smarts and then follow with the book smarts”.

topic: Cultural Intelligence: The Competitive Edge for Business Crossing African Borders. authors: Ryno Nel and Alex Martin Mziray

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When investing in a new country, despite doing extensive research, it is still important to start small and prove on the ground what works and what does not work.

diversity of cultures: Mauritius is a very good example of a country consisting of diverse cultures. We experienced firsthand, the rich diversity that various cultures bring to Mauritian society and had to ask ourselves why it looked somewhat different from our experiences in our own countries.

From the experience gathered during the program, it is evident that CQ is a critical skill for global business leaders, and it seems likely that CQ will become increasingly important. It is expected that, because of the need for expansion into different regions and the rise of diversity in the workforce, CQ will increasingly have an influence on appointments and promotions of staff on the African continent.

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executive directorstanbic ibtc bank plcnigeria area of expertise: (theme) client centricity

Andrew has been with the Standard Bank Group since 2006. He has held several executive management positions with the Group in South Africa, Nigeria, East Africa and is currently an Executive Director of Stanbic IBTC Bank PLC in Nigeria. Prior to joining the Standard Bank Group, Andrew held several executive management positions in the banking, mining and media industries in South Africa. Andrew has lived and worked in five African countries. He is a former Chairman of Charter Insurance Limited, a subsidiary of Liberty Group in Malawi and National Switch Limited. He is also the President of the Bankers Association of Malawi. He holds a Bachelor’s degree in Accounting Science, a post-graduate diploma in Global Management and he is a certified coach, and has attended several executive development programmes.

andreW mashanda

enabling skills development in the banking and microfinance sectorenabling skills development in the banking and microfinance sector

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head of cib operations client service standard banksouth africa area of expertise: (theme) client centricity

Venassa specialises in the financial industry. Venassa’s expertise in the financial services industry includes banking, insurance and investment administration which incorporates operations, information technology and client services. She also has experience in the consulting industry, with specific focus on financial services.

She has a Bachelor of Commerce degree from the University of KwaZulu-Natal and a Master of Business Administration degree from Milpark Business School.

venassa naidU

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The purpose of this paper is to explore customer-centricity in banking, with specific attention on how to create an organisation and system that supports customer-centricity. The key focus areas being (a) how we move from a fragmented view of a customer to an integrated view of a customer, (b) how we move from a product centric approach to a customer solutions focused approach and (c) how can we leverage digitalisation to improve customer-centricity and customer experience.

The approach for this article was created given the review of a survey conducted in ten African countries, during the period January to June 2017 with one thousand and sixty multibank corporate customers interviewed. Key themes emerged based on common negative customer sentiments centered on the speed of delivery and execution, coupled with efficiency, reliability and automation of our processes and systems. Recommendations are further supported by immersions on the Africa Expansion Programme. The heart and mind of the customer being a comprehensive or holistic

understanding of the customer emerged as the premise to all future interventions.

Given the research and experiences a conceptual model was designed by the writers, which depicts the use of digitisation to bring together the single view of the customer, together with AI, technology and data, to create a future view of the customer. The success of this type of initiative is determined by the corporate culture. Given legacy systems, organisational design, culture and leadership, what disruption do we need to enable us to have a future view of the customer? We then also ask ourselves how we can become a relevant partner and participate in our customer’s growth, getting an eco-system view of the customer to turn financial relationships into relationships.

Banks are left with fragmented customer views at the back of transactional data and insights supported by a product centric mind-set. Efforts to create a single view of the customer are at the back of static data. The opportunity for banks is that they are now able to manage data at a reduced overall cost

topic: Customer-centricityauthors: Andrew Mashanda and Venassa Naidu


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associated with a traditional data warehouse while intentionally utilising new analytical capabilities; analytics and data that provide the basis for the forecasting of future events and behaviours of customers. This allows businesses the opportunities to perform ‘what-if’ analyses to predict the effects of potential changes in business strategies and offer key business advantages and insights to banks to address the issue of customer-centricity for the future.

To achieve the end goal of being a strategic partner, corporate banks need to provide advice on products or tailored solutions. There is a need to offer a unified banking approach across divisions, interact more frequently, respond quicker, improve the service culture and build on current relationships. This is a huge task that can be achieved by moving from a fragmented view of the customer to an integrated view.

It is the responsibility of the banking industry to partner with Fintechs in creating solutions for customers. Given the competitive environment, banks should also be working closely with mobile network operators across Africa. With the success of mobile payments in this region, it is clear that the mobile network

operators understand the mass markets and have been able to address the problem of payments. To extend the capability to include savings, banks are fundamental to mobile network operators and should in fact be taking the lead. The issue of customer ownership coupled with regulatory constraints must be addressed to improve the collaboration between mobile network operators and banks. The difference in culture between banks and mobile network operators must be addressed to ensure a successful collaborative relationship. Banks, by default, reside on being conservative and slower on the up take of new developments in technology, whilst for network operators this is not a challenge.

With a balanced approach between the cultures, this can be a game changer that helps deliver on a greater and more relevant suite of financial service offerings. The journey to becoming a customer-centric organization is certainly within reach. It is not a walk in the park and it takes focus and dedication to overcome decades of doing things the way we always have.

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treasurerfirst national bank botswanabotswana area of expertise: (theme) leadership

Olebile specialises in Commercial Banking and Investment Management. Her expertise extends to the management of assets and liabilities, interest rate management, market marking in foreign exchange, interest rates, derivatives solutions delivery and corporate treasury management.

She also has experience in customer relationship management, project management, strategy implementation and business integration. She has extensive leadership experience as well.

Olebile has a Bachelor of Arts (Economics) degree, ACI Dealing and various technical certifications in sales, balance sheet management and leadership training.

olebile makhUpe


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Chief Financial Officerfirst national bank of swaziland limitedswazilandarea of expertise: (theme) leadership

Siboniso has over 14 years’ experience in the finance and accounting field. Before joining the First National Bank of Swaziland Limited as the Chief Financial officer, Siboniso was an Audit Manager at PricewaterhouseCoopers (PwC), where he accumulated over 10 years’ experience, of which over seven was spent working at managerial and supervisory levels, with experience in internal and external audits mainly in the financial services sector, numerous industrial and commercial companies as well as in public sector institutions..

Siboniso was seconded as a Senior Associate within the financial services industry to the PwC USA Firm- Washington D.C. He is the current Chairman of the Swaziland Youth Enterprise Revolving Fund, which is a public enterprise government parastatal. He also served as a part-time Lecturer/Tutor for Accounting and Taxation at Regent Business School for final year Bachelor of Commerce degree students.

He is a qualified Chartered Accountant (SA) and holds a Bachelor of Honours in Accounting Science degree and a Certificate in the Theory of Accounting (CTA) from the University of South Africa, a Bachelor of Commerce Honours (Accounting) degree from the University of KwaZulu-Natal and a Bachelor of Commerce degree from the University of Swaziland.

siboniso mdlUli

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Our goal is to offer a way forward and get leaders thinking about what they need to do, and where they should start as Leadership Matters.

A study by Korn Ferry Institute shows that the current average tenure of C-suite executives is currently estimated at around 5 years when compared to about 10 years in 2012. This shows an unprecedented 50% reduction in C-suite executive average tenure in just 5 years. Our research shows that the secret to survival lies not just in transforming organizational structures, systems or processes, but also in developing a VUCA-ready leadership.

Notably, leaders today need to apply a different set of leadership competencies to successfully navigate their organisations through the rapid changes underpinned by new business models, increasing customer complexities, millennial labour forces and the ‘internet of everything’ that we are experiencing with the fourth industrial revolution. Leaders need to be able to work across boundaries to bring together disparate and diverse sets of people, processes, and technologies and reconfigure them in real time to increase

the likelihood of organisation survival – responsive, resilient and agile. The rapid, exponential and disruptive technology is driving swift and sweeping global shifts in social, economic and political systems at a rate and scale that is quickly outstripping leadership’s ability to keep up.

Through our immersion journey into Africa, we did research and interviewed industry leaders to understand how leadership competencies have shifted in the global workforce. Africa has had its fair share of disruptions in the recent past, and will not be spared from the required shift in leadership approach, with traditional African banks being continuously challenged by smaller fintech companies and mobile network operators (MNO’s). In Africa, the initial disruptions that challenged banking business models were primarily in communities that were previously excluded from financial systems. However, this has evolved, with some encroachment into ‘formal’ banking channels, with services such as money transfers competing with traditional banking solutions. There is a need for radical leadership transformation in response to the new world demands, which present a new set of leadership challenges.To succeed in a VUCA world, leaders must expend their energies

topic: Defining Leadership Competencies Needed for the Fourth Industrial Revolution: Leadership Competencies 4.0authors: Siboniso Mdluli and Olebile Makhupe


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in areas that have the highest payoff for their organizations — continuously developing and sustaining themselves, organisational vision and strategy, building high-performing teams, setting the internal and external conditions for success, preparing for the future. Doing so will allow them to aggressively pursue their goals through the volatility, uncertainty, complexity, and ambiguity of today’s global business environment.

This rise of digitisation as a disruptive force makes it imperative to redefine approaches to leadership, and we propose adoption of what we have coined the ‘Molecular Leadership Competency Model’ which defines the five key competencies that are essential for leaders to successfully lead in this new environment. The model identifies additional competencies that augment traditional competencies and also redefines how traditional competencies can be re-engineered, as they now need to be applied in a different context. The molecular model identifies the following key competencies: Emotional Quotient (EQ), Digital Quotient (DQ), Agility and Adaptability Quotient (AAQ), Socio-cultural Quotient (SCQ) and Creativity and innovative Quotient (CIQ). To cope with complex change and help others move forward to achieve success, leaders are required to be agile and adaptable in order to effect quick shifts in business direction; emotionally intelligent in order to lead people from different generations and develop products that are relevant to the market; and most

importantly, pack a pound of digital ability, so as to be able to comprehend the rapid technological developments that have become synonymous with doing any form of business today.

To lead successfully at any point in history requires a specific set of competencies and behaviors that mesh with the demands of the time. Different economic circumstances, technology landscapes, cultures, and social values require different approaches. The current wave of industry disruption is fueled by digital tools, technologies, and business models such as analytics, virtual reality, blockchain, cloud environments, mobile solutions, machine learning, connected devices, the sharing economy, and digital ecosystems.

In accordance with the model, leadership is a fluid construct and molecular in nature, as such we have likened leadership competencies to a molecule made of different atoms making a ‘living- leadership molecule’, meaning that they are live and constantly moving with the VUCA vortex. Therefore, leaders of today need to constantly and continuously GROW, MORPH and DEVELOP to stay relevant. As Alvin Toffler said “The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn” on the trot, to survive the new normal of the volatile and changing world.

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corporate directorbarclays bank ghana area of expertise: (theme) strategy and systems thinking

Ellen leads the Sales and Coverage team as the Corporate Director of Barclays Bank of Ghana Limited. She has over 16 years’ experience in Origination, Client Coverage, Business Development, Leadership, Risk Management, Strategy and People Management. She has previously served as Head of the Global Clients Unit and Head of the bank’s SME business.

She holds an Executive Master of Business Administration degree from the GIMPA Business School, a Bachelor of Science (Agricultural Economics) degree from Kwame Nkrumah University of Science and Technology, and a diploma in Customer Relationship Management from the London Institute of Banking and Finance. Ellen is also a Council Member for the Chartered Institute of Bankers in Ghana.

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Chief Finance Officer stanbic bank ZimbabweZimbabwe area of expertise: (theme) strategy and system thinking- link to setting a sound strategy, managing within a matrix, understanding change and creating a change plan including culture fit

Solomon is the Chief Financial Officer for Stanbic Bank Zimbabwe, a wholly owned subsidiary of the Standard Bank Group, for which the headquarters are in Johannesburg, South Africa. Solomon has 13 years’ experience in the financial services sector and his areas of expertise include the following: strategy formulation and implementation, financial management, liquidity management, managing regulatory stakeholders, integrity and effectiveness of internal control systems.

He is a Chartered Accountant and holds a Master of Business Administration degree from Nottingham Trent University.

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Developing and implementing a strategy is the central task of a leader whether it is the CEO of a Fortune 100 company, an entrepreneur, church pastor or a government official. Richard Rumelt, Professor of Business and Society at the University of California, claims that there has been an unfortunate tendency of equating motivational slogans and financial goals with strategy. A good strategy is a specific and coherent response to - and approach for - overcoming the obstacles to progress, like responding to changing market dynamics.

We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. The banking industry in Africa needs to be ready to face challenges and harness the opportunities posed by the fourth industrial revolution (4IR) in order to remain relevant. The sector must respond and approach this revolution with integrated and comprehensive strategies, involving all stakeholders who include financial technology companies (Fintechs), customers (both private and companies), regulators and governments and so on.

The speed of current breakthroughs has no historical precedent. When compared with previous industrial revolutions, the Fourth is evolving at an exponential rather than a linear pace. It is disrupting almost every industry in every country and the banking sector risks going into extinction as customers will move in mass to new and agile start-ups which are providing the same financial services in a better way which have been the preserve of traditional banks for time immemorial.

How then can African Banks, whether large or small, play a pivotal role in the next industrial revolution? How can the industry take advantage of existing strengths while developing the digital prowess and personnel skills which are required? It is an era driven by technological advances that enable the capabilities of the smartphones in our pockets, a mix of low-cost and high-power computers, high-speed communication, smarter robots and augmented (artificial) intelligence. The ability to realize these gains will depend, in part, on the strategies, which players adopt during these early years, and the willingness to reframe their business and operating models to make the most of this new technological infrastructure.

topic: Strategies for the Banking Industry to Win in the Fourth Industrial Revolution (4th IR)authors: Solomon Nyanhongo and Ellen Ohene-Afoakwa

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This paper offers strategic solutions which the banking industry in Africa needs to employ in order to successfully navigate the challenges and take full advantage of the massive opportunities coming with the 4IR.

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executive consumer banking first national bank namibiaarea of expertise: (theme) sustaining networks

Martha has expertise in Retail Banking, Life Insurance, Accounting and auditing services. The 22 years she has spent working at various financial institutions in Namibia, in charge of strategy development and implementation, human capacity development and mentoring, delivery of profits, new business sales, retention and acquisition of new customers, driving operational efficiencies and the development of new products, have sharpened her skills in financial management and strategic leadership.

She completed a Strategic Leadership Programme (SLP) with Ashridge Business School in the United Kingdom and did a Channel Leadership Programme (CLP) at INSEAD, the Business School for the World at Fontaine-Bleau in France. She has also completed a Leadership in Excellence Programme (LBE) at the Old Mutual Business School. She holds a Master of Business Administration degree (MBA) from the University of Stellenbosch Business School (USB), a Bachelor of Accounting degree from the University of Namibia and a National diploma in Commerce from the Polytechnic of Namibia. In addition, she completed her articles as an Accountant and External Auditor at PricewaterhouseCoopers, one of the four international professional services networks offering audit, advisory and tax services.

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head of Wealth and investmentstanbic bank ghana area of expertise: (theme) sustaining networks

Benjamin specialises in the structuring and provision of wealth management solutions such as investments, specialised lending, insurance, trusts and estate planning services to high net worth clients. Benjamin’s expertise extends to strategy formulation and execution, product design, sales, distribution and client experience management. He is a seasoned banker with 17 years’ management experience working for two multinational banks in different countries which include Ghana, Johannesburg, London and Dubai.

He has a Bachelor of Arts (Economics) degree and an Executive Master of Business Administration (Finance) degree from the University of Ghana. He also holds an International Investment Advisory Certificate (IIAC) and an International Capital Markets Qualification (ICMQ) from the Securities Institute in the UK.

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The world of banking is changing and very fast too. The emerging alignment of consumer, competitive, technological innovation and regulatory forces is fast-tracking a move towards an open financial system.

The European financial market has taken a lead in this regard and the passage of the Payment Services Directive 2 (PSD2) signals the dawn of the open banking era. The PSD2 comes into effect in January 2018 and mandates banks to grant third-party providers (TPPs) access to customer accounts in a regulated and secure way via application programming interfaces (APIs).

While other regions of the world may not yet be at par with their European peers, it is expected that this move will send strong signals to the global banking industry and kick-start the transformation of financial services in other jurisdictions.

The majority of African citizens still remain unbanked. However, given its relatively young population, with a median age of 19.7, and the rapid growth in mobile telephony and

mobile payments, among other factors, it is expected that the open banking construct will find a fertile home in Africa. Additionally, with the convergence of global regulatory thinking, as evidenced by the Basel accords, for example, and the growing need to promote inclusive banking, it is expected that regulators will mandate Open Banking in Africa by the end of the next decade.

Open banking brings with it significant challenges, risks and disruptions to the current business models of traditional banks. Some anticipated risks include disintermediation that will lead to loss of revenue, loss of primary ownership of clients, fears around cyber security and data protection among other possibilities. These fears are magnified given that a number of banks today still have weak innovation cultures, legacy systems and continue to work in siloed and complex structures.

However, traditional banks also have a unique opportunity to use open banking to access additional customer data, create new products and services, improve efficiencies, enhance

topic: Sustaining Networks in the New Age: Turning Open Banking into a Sustainable Competitive Advantage.authors: Martha Murorua and Benjamin Mensah

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customer experience and invariably create new revenue streams. A core part of the open banking world is the utility and dependence on APIs. Whether banks leverage APIs to grow their customer value ecosystems or ignore and potentially pale into oblivion depends on leadership’s appreciation of how to sustain networks in a fast changing world.

It is recommended that banks take advantage of Open Banking to expand their current banking ecosystem and look to aggregate value. By actively investing in open APIs, banks will not only be creating opportunities to monetize these APIs and gain additional customer insights, but will also open avenues for partnerships with third party firms within and outside the financial services industry. These will lead to the creation and consolidation of new products and services owned by third parties, but offered via the bank’s online portal, and secondly, consolidation of customer data stored on third party systems but presented on the bank’s online portal.

Banks that are able to establish themselves at the centre of the client’s financial and non-financial ecosystem and therefore become an integral part of their everyday life will not be easily dislodged and will indeed reap significant benefits.

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projects managernedbank lesotho ltdlesothoarea of expertise: (theme) optimising operations

Moeketsi specialises in delivering value to clients through the successful implementations of strategic projects that yield customer centric products and services.

His experience in managing different projects has allowed him to better understand different domains within the banking sector including anti-money laundering, combatting financing of terrorism and sanctions, retail distribution strategies, including ATMs, branch and POS devices rollouts, design and implementation of client value propositions, design, testing and implementation of different products such as mobile, chip-on debit cards and credit cards and changing of core banking systems. He also has experience managing IT environments as an IT Manager.

Moeketsi has a Bachelor of Engineering degree in Computer Systems and Networks from the University of Lesotho and a Certificate in Project Management (PMD Pro 1 and 2) accredited by APMG-International. Currently, he is pursuing a Master of Electrical Engineering (measuring in Knowledge management ) degree with the University of Cape Town.

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senior tax managerafrica regionssouth africa area of expertise: (theme) optimising operations

Ncamisa specialises in managing the Africa Regions’ (“AR”) Group taxation portfolio and ensuring that the bank and its subsidiaries in the AR comply with all applicable tax legislation. She also provides strategic leadership by proferring tax advice, tax risk management, establishing tax competency and raising tax awareness within the various divisions in the bank and its subsidiaries. Ncamisa has extensive experience in all aspects of financial accounting, internal auditing, financial management and international tax .

She is a qualified Chartered Accountant and has a post-graduate diploma in Corporate Law from the University of Johannesburg as well as a Master of Commerce (Tax) degree from the University of Pretoria.

ncamisa madikane

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We live in a world increasingly driven by data, in fact business in the 21st century is being redefined by a data-driven revolution. How banks define their data strategy and approach, including their choice of big data and cloud technologies, will make a critical difference in their ability to compete in the future. One of the main questions banks should ask is; “how effective is my organisation at leveraging new sources of data and advanced analytics that uncover new customer, product, and operational insights that can be used to differentiate our customer engagement, optimise key business processes, and discover new monetization opportunities?”

Globally, digitally empowered new entrants to the market are threatening traditional banking business lines, and feeding an increased appetite for simplified, personalised, and intuitive approach to banking from customers. Africa is not an exception to this. There is a high cellphone penetration in Africa which has led to the development and scaling up of mobile money solutions.

According to a GSMA 2016 report, at the end of 2015, Africa accounted for 52% of the 271 live mobile money services in 93 countries, and 64% of all active mobile money accounts. These

new players are named fintechs and they have recognised what customers want and have responded with offerings that are aligned to their present day needs. They come with digital technologies such as artificial intelligence and analytics and they are able to leverage predictive analytics to find customer, product, and operational insights buried in a growing wealth of internal and external sources. These new entrants are gaining footholds in many African markets, further intensifying competition and creating disruption.

According to KPMG’s 2016 report on the African banking industry’s retail customer satisfaction survey, Africa’s retail banking customers are looking for quality services from their banks, and they are willing to switch banks if they feel they can get better services elsewhere.

In responding to increased competition from non-traditional players and changing financial needs and preferences, it is therefore crucial for banks to put client experience as one of the main considerations in their strategies. It is also clear that if banks do not become more customer-centric in their thinking, they are at risk of ‘getting Kodaked’ by more agile fintech players and challenger banks.


topic: Data Management is Key to Banks’ Success.authors: Moeketsi Mafereka and Ncamisa Madikane

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To ensure that banks are able to meet customer demand, they must invest in building a complete customer-centric offering that changes with customer needs. As more customers are choosing different banking channels such as online and mobile, banks must now invest in optimising their digital offerings and prioritise user experience. We cannot over-emphasise the urgent need for banks to focus more on developing products with customers in mind. There is a need to quickly acquire, process and analyse data to impact business decisions.

This cannot be achieved with the old mind-set on data management. More agile data management techniques are required as traditional systems cannot address today’s need for an adhoc, “slice and dice” analysis. In this era of change, organisations need flexible analytic tools to quickly obtain the critical insights they need. Traditionally rigid toolsets will not get the job done.

An agile data management platform provides immediate, flexible, granular data analysis for both tactical business actions

and strategic planning decisions. Agile data management goes beyond traditional analytics tools to perform data integration, data quality management, enrichment and business analysis, such as correlating, filtering, sorting and statistical analysis.

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finance directorbarclays bank botswana area of expertise: (theme) ethics

Mumba is a seasoned Financial Management expert. He has over 20 years’ experience in the banking and financial services sector as well as in accounting private practice. He has over the years been involved in financial management, financial planning and assurance services across sectors. He has been a critical part of strategy formulation and execution for close to 15 years as a senior leader in the various organisations that he has worked in. Mumba has extensive experience in leadership, strategy formulation, financial reporting, governance and control, and taxation.

He has a Master of Business Administration degree from Heriot Watt University of Scotland. He is also a fellow of the Chartered Institute of Management Accountants (CIMA) and the Association of Chartered Certified Accountants (ACCA).

Mumba currently serves as an Executive Director of the Barclays Bank Botswana Board. He recently retired as a member of the CIMA Africa Regional Board, and has previously served as Chairman of the Audit Committee of the Zambia Institute of Mass Communication.

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head of compliancebarclays bank seychelles area of expertise: (theme) ethics

Audrey is a Compliance Specialist, with expertise in financial crime compliance. She has previously worked for the regulator and headed the supervision and regulatory section that was responsible for onsite and offsite assessments of reporting entities. She is a trained Financial Action Task Force Assessor through ESAAMLG and is part of the national committee carrying out the national risk assessment of Seychelles.

She has a Bachelor of Arts degree from the University of Manchester in the United Kingdom and is in the final year of her Bachelor of Laws degree.

aUdreY annette

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It is estimated by Bloomberg that the financial crisis of 2008, cost the American people in total 12.8 trillion USD. Although it can be argued that the systemic risks that exists in the US which allowed the impact of the financial crisis to be exacerbated, is not as pronounced on the African continent (if they exist at all), given the current state of development across the different African countries and the contribution in real terms made by banks to the African economies, put simply, Africa cannot afford a financial crisis and as such unethical bankers.

The African continent has not been without its own unethical scandals; Year 2016 has been described by many as the year where “latent fragility in Africa’s banking sectors is being laid bare”. From Zambia’s Central Bank taking over the Intermarket Bank, Nosso Banco from Mozambique having its licence cancelled after it was placed under emergency administration, in Tanzania Bank of Tanzania stepping in to replace the management at Twiga Bancorp, Crane Bank being taken over by the Central Bank in Uganda, in Kenya the collapse of Chase Bank and the failure of Imperial Bank. In South Africa, the Reserve Bank fined banks at total of 46.4 million Rand as penalties for administrative sanctions for having weak money laundering and terrorist control measures. Following recent

scandals, lending by banks in South Africa is associated with the words “irresponsible” and “reckless”. The root causes of these failures have been attributed as mismanagement and/or political interference and economic challenges. Brownbridge dubbed the causes of the failures of banks on the continent in the late 1990’s as “moral hazards”.

Based on the above, the paper argues that Ethics need to play a central role in banks’ behaviours and decision making processes and banks’ leadership, as banks expand their operations on the African continent.

In considering the role of ethics in the African Expansion, the following statements will be explored: • Ethics should reshape the behaviour of bankers;• Ethics should drive a shift in banks primary objectives such that banks’ focus on the objective of other key stakeholders, including customers. Putting customers’ needs at the heart of bank’s strategies and operations, rather than focusing on maximising shareholder wealth which will be realized once the customer objectives are realized;• Banks should adopt a definition of ethics that looks at the behavioural components of the term “ethics”, such that these are observable and measurable;


topic: The Role of Ethics as Part of the African Expansionauthors: Audrey Annette and Mumba Kalifungwa

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• Banks should redefine themselves as enablers of financial emancipation;• Banks should commit firmly to the UN Sustainable Development Goals and drive sustainability on the continent as part of their expansion agendas. As the paper explores the role that ethics can play as part of the Great Banking Expansion into Africa, the reasoning for putting ethics as a central component of the African expansion will be explored. Internal and external tools that can be put in place to ensure consistent application of ethics by banks and also to prevent, monitor and detect potential unethical behaviour are also proposed.

As part of the desire to expand into Africa it has been recognised that it is important to also understand the role that Ethics play in the midst of different cultures and people across the continent. Ethics and ethical systems are part of the African traditional community living across many cultures. It is proposed that banks must draw on those systems to build their own value system and in doing so create relevance to customers across the African continent and a deeper understanding of the culture of African countries. Each African country represents a web of cultural complexity that banks need to untangled and navigated in order to be successful in their expansion across the continent. Knowledge of different cultures and beliefs across the continent helps us to understand the responses or actions that one need to undertake to enable the African expansion. This will support the idea that customers needs to become the central focus of product and service design.

It is intended that the paper deliberate on the school of thought that Ethics should focus on ensuring that African banks do the right thing to protect customer needs. This should then lie at the core of their strategic objectives including the Short term and Medium Term Performances Matrices. It is proposed that by meeting customer needs as a primary objective, this will lead to increased earnings and returns to shareholders as this will develop trust and confidence as banks re-brand and transition to be represented as solution providers to customers, and in the eyes of the African citizen become enablers of financial emancipation. This is a deviation from most management theories that emphasise the notion that banks, as corporations, exist to maximize shareholder wealth. The article proposed then that because banks operate in a legally “preferential” framework, banks on the African continent should have a social function in the markets they operate and take responsibility for driving the development agenda of the continent by committing firmly towards achieving the United Nations’ Sustainable Development Goals through the United Nations’ Global Compact. Banks will then create sustainable value for the continent and in doing so value for themselves.

As with culture, there exist various definitions to the term “ethics”. The paper zones in on the fact that ethics represent a set of moral values that are expected of professionals in their business operations as well as in their daily lives. The definition of ethics that banks should adopt on the African continent is that ethics are moral values in action and should form the basis of our decision making process and behaviour in the conduct of the business of banking. This definition need to incorporate behavioural

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elements that are measurable and observable. It is proposed that ethical framework is set up for all banks that incorporate internal elements such as the bank’s definition of ethics and the principles and values that is core to the organisation, strong corporate culture that includes rewards and penalties where the ethical principles and values are breached. Further to this, the view put forward is that internal non-compliance to ethical guidelines should be met with grave consequences that should be applied consistently regardless of the level of the employee involved through a technology solution – termed Ethi-tec. Technology is recommended to remove the subjectivity of human decisions and drive consistency in the application of values and ethical principles.

In addition, it is also proposed that external to the organisation, tools are developed to allow monitoring and detection of unethical behaviour and decision making by using big data and setting up an Ethics Measuring tool. Because of the behavioural components embedded in the bank’s ethical framework, the tools can be used by regulators and potential investors to gage the bank’s commitment towards and application and extent of embedment of its value system, culture, practices and

narratives of the banks. The tool managed independently by third parties, will drive to also represent in financial terms the value of ethics and culture within the firm by representing the level of investor and public confidence in the bank.

As an additional mechanism, the paper examines the potential for regulators to use big data to monitor and detect potential unethical behaviour in banks. The EMI and use of big data, are proposed as external tools to the banks to be used by the regulators as monitoring and detection tool, by investors and other external stakeholders to determine the extent that the:With this shift of objectives of banks and ethics being at the core of the African bank’s decision making process and behaviour, it will also be argued that the focus should move away from the philosophical definition of ethics and more towards a tangible behavioural definition ethics. This will, in the views of the authors make the embedment of ethical principles more practical, observable and measurable and can be used to reinforce internal existing corporate governance frameworks and also can be included as monitoring variables for the different tools.


topic: The Role of Ethics as Part of the African Expansion (continued)

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In conclusion, the paper summarises the view on the importance of ethics as part of the Africa expansion and the value including increased financial value that consistent application of ethical principles will add to the banks. In addition, the ethical measures proposed will also serve to build customer, public and investor confidence. The benefits will be summarized as follows; building customer trust and loyalty, building investor confidence and protecting the brand of banks that adopt and uphold strong ethical guidelines. 45

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www.bankseta.org.zageneral email: [email protected]

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www.bankseta.org.zawww.bankseta.org.za

expert knowledge

sector skills planning

monitoring & evaluation

labour market demand and supply

research and benchmarking

The Banking Sector Education and Training Authority is mandated through the Skills Development Act of 1998 as amended by Act 26 of 2011

to compile a Banking Sector Skills Plan (SSP) within the framework of the National Skills Development Strategy (NSDS).

The skills development needs include scarce and critical skills in the banking sector which are derived

through an analysis of skills demand and supply into the sector.

thebankingsetathebankseta the-bankseta thebankseta

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gaUteng head office

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