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YocoProgramme Director - Financial Services
Jan. 2024Cape Town, Western Cape, South Africa
Gravity Nine Point Eight (Pty) Ltd.Founder
Jul. 2018Cape Town, Western Cape, South AfricaI established Gravity 9.8 in 2018 with the vision of providing inclusive, lower-cost digital financial, payments and transaction solutions to informal and ‘last mile’ communities. I work with industry experts in designing and providing these solutions for informal businesses, consumers, and communities in collaboration with South African, global Fin/Edu/Health/Insure-Tech businesses, and corporate partners. Gravity 9.8’s solutions are embedded in the value propositions of businesses whose brands are respected and trusted in the target market/sector. Gravity 9.8 is invisible by design. Our objective: Be pivotal to enabling financial inclusion. Reduce money transfer costs and cross-border remittance costs, making the money chain more efficient. Leverage the digitisation of physical cash and payments in supply chains between FMCG suppliers and informal, cash-based merchants. Increase business growth for informal merchants through freeing up cashflow. Empower digital ecosystems and marketplaces by dematerialising physical cash into digital money.
Absa GroupManaging Director: Group Payments and Physical Cash
Jan. 2017 - Jan. 2018Gauteng, South AfricaImplemented a revised strategy for group payments that optimised the value and security of the franchise, including the group Physical Cash business unit. The logistics model, risk management, partnership model, and pricing model of physical cash significantly changed group profitability and the sustainability of several bank channels. Delivered effective guidance and mentorship to numerous Fintech startups when part of the group ‘Future Bank’ innovation cluster and Barclays Rise Accelerator.
Absa GroupCEO Elect: Dual Role
Jan. 2016 - Jan. 2017South AfricaIn 2016 I was asked to lead a cross-functional international team of 18 high-performing experts in the creation of a digital disruptor bank – an intended JV with an iconic global brand to be formed as a subsidiary of Absa. With the paperwork signed and approvals received, the project was terminated by the Absa Board when Barclays sold down its majority stake in Absa.
Absa GroupManaging Director: Cape Region
Jan. 2015 - Jan. 2017Western Cape, South AfricaWas asked by the Absa Group to create a new business and operating model for regional banking, using the Western and Eastern Cape (Cape Region) as the POC and proxy. The role involved combining 16 different silo businesses into a single market facing team. Delivered 28% of South African revenue and 26% market share by providing effective business leadership, whilst expanding business penetration across all market sectors. 16 different office building leases were terminated and the teams combined into a single new premises. Significant change leadership, stakeholder management and negotiation was involved. The model developed is utilised across the African countries where Absa operates, and in the other provinces of South Africa.
WoolworthsCEO: Woolworths Financial Services
Jan. 2011 - Jan. 2014Cape Town, Western Cape, South AfricaNegotiated, concluded, and established Woolworths Financial Services as the most successful bank/retail joint venture in Africa at the time. The business was created as a subsidiary of Absa Group. The business offered loans, credit cards, store cards, and short term insurance. Joined the board of WFS as a non-executive director in October 2008, as the accountable director from Absa. Was asked to join the business as CEO in 2010, a position taken up in 2011. The business remained highly profitable with an ROE consistently > 22% and was regarded as a benchmark for bank/retail partnerships across Africa. Achieved R54m to R680m PBT boost in profit over 6 years, as well as a sustainable ROE of 22% plus by the end of 2014.
Absa GroupManaging Director: Cards and Group Payments
Jan. 2007 - Jan. 2010Gauteng, South AfricaMy role in Absa Cards included a shift to best practice from an issuing, merchant acquiring, and fraud management perspective, which required significant operational restructuring and changes in strategy. Served on the Barclaycard global strategic leadership team and board of Barclaycard International. Sat on the BankServ Africa board as a non-executive director and Absa representative and was a member of a number of industry committees focused on developing and improving the national payment system and necessary regulatory frameworks. Delivered R2.4B PBT in 2010 as the MD of Barclaycard Africa, Absa Cards business, and group payments. Attained the most profitable card portfolio in Africa and increased market share via concise strategic planning, business and operating model change, and execution. The Payments instruments across the Absa Group had been used as loss leaders to gain new customer business, leading to significant losses at the payment level. By establishing notional P&Ls for each payment type, group level reporting, and a move to best practice, we significantly improved the profitability and sustainability of the Group Payments franchise.
Standard Bank GroupManaging Director: Card
Jan. 2006 - Jan. 2007
Standard Bank GroupDirector: Unsecured and Card Credit
Jan. 2003 - Jan. 2006
Standard Bank GroupHead: Personal Lending
Jan. 2002 - Jan. 2003
HomeChoiceChief Operating Officer
Jan. 2000 - Jan. 2002
PIC Solutions LLCKey Client Consultant
Jan. 2000 - Jan. 2000
TruworthsFinancial Services Executive
Jan. 1996 - Jan. 2000
QueensparkGroup IT Executive: Commercial and Logistics Manager
Jan. 1995 - Jan. 1996
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