Portrait – Sam Motsuenyane, African Bank
The founding chair of African Bank. When African Bank was formed in the 70s by black businessmen, it was meant to help others escape the constraints of apartheid and become financially free.
African Bank made headlines in late 2014 when the bank was placed under curatorship by the Reserve Bank in August after the bank warned of massive losses and said it needed about R8.5 billion in new capital. It was subsequently downgraded by Moody’s.