Sandile Shabalala joins Sasfin as Chief Executive of Business and Commercial Banking

Sasfin has announced that Sandile Shabalala will join them as Chief Executive of Business and Commercial Banking. Having successfully led the establishment and formal launch of the new TymeBank in February 2019, and, as former Managing Executive of Business Banking at Nedbank for 11 years, Sandile is a powerful addition to the purpose-driven bank. He will commence the position on January 2nd, 2022.

Michael Sassoon, Group CEO of Sasfin, explains, “Based upon what we have planned, I couldn’t have asked for a better combination of experience than the track record Sandile has, having led a business banking unit within a large traditional bank and having been CEO of a digital challenger bank. His vision is very much aligned with where we are headed. Having met many potential candidates, Sandile was clearly the right fit, given his passion, vision and experience. South Africa needs leaders like Sandile to help get businesses going again. Sandile is a proven entrepreneurial banking leader that can deliver on our purpose and champion the needs of business. We have big ambitions for this brand and getting the right person to lead it was essential.”

Shabalala explains, “Sasfin has a huge opportunity to be a focused bank in the business banking space. There is scope to support SMEs who lack resources, by offering more than traditional business banking; by guiding them and delivering value-added expertise and resources. My move to Sasfin is about delivering value beyond banking to the business segment which I believe would be hugely appreciated. This will help grow businesses and the economy. As we got to know each other during various phases of the interview process, I saw a lot of drive and ambition, a robust strategy and good values. Sasfin’s current trajectory and positioning are focused on enabling business growth, walking side by side with their clients which will ultimately enable job creation.”

He adds, “Sasfin is independent and has an entrepreneurial track record. This means there is an agility to make things happen and be forward-thinking. That is not common in banking. This segment of businesses will have a real affinity with that, especially as we get the formula right by going the extra mile and untangling the complexity. To be clear, this is not just digital banking; it goes beyond that, even beyond banking. It’s about simplifying and supporting the life of a business person because it’s all too common these days to hear a business say, ‘My bank doesn’t understand me’. It’s a glaring opportunity.”

Sassoon concludes, ”We have strengthened our business and commercial banking team, and our products and proposition, significantly over the last 24 months. In merging our business banking and capital areas, we have brought together excellent client-centred specialists, digital capabilities and deep lending expertise. We are ready to take this business to the next level and have taken real time to find a leader that shares our vision, can lead our team and execute on our strategy. Given the large investment made to date, and under Sandile’s leadership, we are confident that we can disrupt the business banking space further and continue to bring meaningful value to our business clients.”