Africa's biggest bank names first black CEO

Standard Bank CEO Sim Tshabalala. (Photo: Courtesy)

Standard Bank, Africa's largest bank by assets, has appointed Sim Tshabalala as its first black chief executive after four years of sharing the role, the company said yesterday.

South Africa's financial sector, the economy's largest, is often criticised by politicians for a perceived lack of transformation and remains dominated by white executives 23 years after the end of apartheid.