Net1 scoops Commonplace Financial institution’s Lincoln Mali as new Southern African CEO

JSE-listed fintech agency Net1 announced the appointment of Commonplace Financial institution stalwart Lincoln Mali as its Southern Africa CEO on Tuesday.

The corporate, which has a main itemizing on the Nasdaq and has operations in Africa and Asia, mentioned in a Sens that Mali will come right into a newly-created place on the agency. His appointment is efficient from Might 1.

Moneyweb InsiderINSIDERGOLD

Subscribe for full entry to all our share and unit belief knowledge instruments, our award-winning articles, and assist high quality journalism within the course of.

Mali will transfer from his present function as head of group card and funds at Commonplace Financial institution.

Net1 famous that Mali is “a extremely completed monetary providers government with over 25 years within the trade”.

It added: “Mali additionally chairs the board of administrators of Diners Membership South Africa and is a member of the Central and Japanese Europe, Center East and Africa Enterprise Council for Visa.”

Learn: Value Capital Partners takes R580m stake in Net1

Commenting on the appointment, Net1 chairman Jabu Mabuza mentioned: “After an intensive and rigorous search course of, we’re delighted that Lincoln Mali has agreed to hitch Net1 because the CEO of Net1 Southern Africa.”

He famous that Mali has a really robust monitor file in client and service provider monetary providers throughout South Africa and 16 different African international locations.

“Moreover, he’s a extremely moral enterprise chief who’s strongly aligned with Net1’s imaginative and prescient and mission,” added Mabuza.

Mali mentioned he’s equally delighted to be appointed to the place.

“Net1 has distinctive capabilities, expertise and infrastructure to supply monetary providers to unbanked and underbanked customers and retailers. Moreover, Net1 has a workers complement of over 2 500 competent and devoted women and men.

“I’m excited to make use of these capabilities and work with my new colleagues to make Net1 a number one monetary expertise enterprise. I want to thank the board for his or her assist,” Mali mentioned.

“Becoming a member of the Net1 crew aligns with my function of creating a distinction in society, and I look ahead to working with my new colleagues and different stakeholders to drive monetary inclusion for the unbanked and underbanked market. Hopefully our efforts will give these shoppers dignity and selection in monetary providers,” Mali added.

In the meantime, Net1 additionally famous in its Sens that the group is continuous with its seek for a Group CEO. The corporate mentioned that it’s going to “talk progress” relating to this appointment sooner or later.

Net1 was embroiled in a Sassa grants fee scandal by means of its now liquidated Money Paymaster Providers division a number of years in the past. Mali is available in because the group makes an attempt to restore its picture and switch round its enterprise beneath the chairmanship of Mabuza, who was appointed in Might final yr.

Cash Paymaster Services to go into liquidation
CPS: Liquidation won’t be opposed by parent company Net1