Ghana Msibi Steps Up as FNB Business CEO: A Bold New Chapter for SA’s Banking Sector

From WesBank to FNB Business, the seasoned executive is taking the reins at a time when business banking is ready for disruption.

South Africa’s banking world just welcomed a major shakeup. Ghana Msibi, best known as the driving force behind WesBank’s market dominance, has been named the new Chief Executive Officer of FNB Business, one of the country’s most important players in SME lending.

For the over one million customers in FNB’s business portfolio and the thousands of entrepreneurs banking on accessible finance, this change is not just a leadership update. It could mark a shift in how banks serve the real South African economy, especially in underserved and fast-growing sectors such as township businesses.

A Homegrown Leader with Deep Financial Roots

Msibi is no stranger to the FirstRand ecosystem. He joined the group in 2015 and took over as WesBank CEO in 2022. With more than 22 years in financial services, including roles in banking, insurance, risk and compliance, and channel management, his résumé reads like a blueprint for the future of business banking.

But Msibi’s appointment is not only about experience; it’s about timing. South Africa’s SME sector is heating up, with traditional banks facing growing competition from fintechs and private lenders. FNB Business, long considered a juggernaut in the space, is now under pressure to grow and grow smartly.

That’s where Msibi comes in. According to FNB, he will focus on driving strategy, increasing market share, and expanding into new growth areas, particularly those often overlooked by big banking.

Dual Roles for Continuity and Stability

Interestingly, Msibi will not step away from WesBank just yet. He will continue overseeing the WesBank portfolio until a new CEO is appointed, ensuring a smooth transition and no disruption to strategic projects already in motion.

This dual responsibility reflects both the trust FirstRand places in his leadership and the importance of seamless continuity across its brands. Msibi will report directly to Harry Kellan, FNB’s Group CEO, and join the FNB Executive Committee.

Township Economies on the Radar

In a statement, Kellan underscored why this role matters, not only for the bank but for the country’s future.

“We’re excited to have someone with Msibi’s depth and breadth of knowledge and expertise to lead us forward as a bank of choice in this very important category,” he said.

Kellan specifically mentioned the township economy as a key focus area. This is significant. With youth-led ventures, micro retailers, and informal traders forming the backbone of South Africa’s economic recovery, FNB’s support in these spaces could be transformative.

Msibi’s appointment signals that the bank is ready to evolve with the times, not just to compete with new players but to connect with businesses that have been historically underserved.

More Than a Title; It’s a Mission

While most executive appointments come with boardroom clichés, this one feels different. Msibi represents a generation of South African leaders who have risen through the ranks, understand the grassroots financial landscape, and carry both corporate and community insight.

Armed with a Cost and Management Accounting degree, a postgraduate qualification in Risk and Compliance, and an MBA, Msibi is more than qualified to lead. Yet, it is his lived experience across banking silos and strategic pivots that may prove to be his greatest asset.

As the FNB Business segment enters this next phase, all eyes will be on how Msibi shapes its future, not only for shareholders but also for the millions of entrepreneurs and small business owners striving to build something bigger in a country that desperately needs it.

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Source: Business Tech

Featured Image: LinkedIn/WesBank