First National Bank (FNB) has announced the appointment of Ghana Msibi, current CEO of WesBank, as the new Chief Executive Officer of FNB Business, one of South Africa’s largest lenders to small and medium-sized enterprises (SMEs), serving over one million customers.
This strategic leadership change comes at a time when the SME banking segment is becoming increasingly competitive, with major financial institutions vying for market share in what is widely regarded as the next frontier for banking growth.
In his new role, Msibi will be responsible for driving FNB’s business banking strategy, with a strong focus on expanding market share, enhancing customer value, and positioning the bank as the preferred financial partner for SMEs. He will report directly to FNB CEO Harry Kellan and will serve as a member of the FNB Executive Committee.
FNB confirmed that Msibi will continue to oversee the WesBank portfolio until a successor is appointed, ensuring a smooth leadership transition and continuity on key strategic initiatives.
Msibi brings over 22 years of experience in the financial services industry, with a career spanning banking, channel management, insurance, risk, and compliance. He joined the FirstRand Group in 2015 and was appointed CEO of WesBank in 2022. During his tenure, he played a pivotal role in shaping WesBank’s strategy and strengthening its market-leading position.
“Since joining in 2015, he has occupied a number of positions and played an instrumental role in shaping WesBank’s strategy, contributing to the market-leading position it occupies today,” FNB said in a statement.
Msibi holds an undergraduate qualification in Cost and Management Accounting, a postgraduate qualification in Risk and Compliance Management, and an MBA, equipping him with a strong foundation in both technical and strategic leadership.
FNB CEO Harry Kellan emphasized the importance of the business banking segment to the group’s overall strategy, particularly in unlocking opportunities within the township economy and other underserved markets.
“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,” Kellan said.
