Daniel Mminele appointed as Nedbank chair

Daniel Mminele, who stepped down as head of the Presidential Climate Finance Task Team earlier this month, has been named as the Nedbank chair designate and independent non-executive director.

Nedbank said Mminele’s appointment as non-executive director was with effect from May and he is set to be elected chair at the company’s annual general meeting in June.

Mminele will succeed Mpho Makwana, who has chaired the bank since November 2021.

Nedbank said the appointment follows a robust succession process for the chair that commenced early last year and was led by Hubert Brody, Nedbank lead independent director.

“Nedbank Group and the board are pleased to announce Daniel’s appointment. The group will benefit from his vast expertise and experience in banking and financial services, including climate finance, through serving as the head of the Presidential Climate Finance Task Team, has extensive financial services experience after serving two five-year terms as deputy governor of the South African Reserve Bank.

“He is the outgoing chair of Alexander Forbes Group Holdings and Alexander Forbes Investments.

“I am honoured by this appointment and look forward to joining the Nedbank Group as independent non-executive director and chair designate. I am looking forward to working with board colleagues, the management team, employees and our broader stakeholder community as we deliver on strategic commitments and ambitions in line with Nedbank’s track record as a purpose-driven organisation,” Mminele said.

As chair of the task team, Mminele led efforts to develop the country’s Just Energy Transition Investment Plan launched in November 2022.

His appointment as chair of the Climate Change Finance Task Team followed the $8.5bn (about R132bn) pledge by rich countries including Germany, the US, UK and France for assisting South Africa to reduce its reliance on coal as part of the transition to a low carbon economy.

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