BusinessDay
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DafriBank appoints new CEO as it plans commercial banking operations in Nigeria

South Africa-based borderless digital-only financial institution, DafriBank has appointed a new chief executive officer and kicked off the construction of a new headquarters in Lagos, Nigeria. This is part of plans to commence commercial banking operations in Nigeria by 2023.

The new CEO Ramaswamy Easwara holds multiple academic degrees, including Bachelors in Accountancy, with the major studies in accounting, economics, taxation, and auditing. He also holds an ACMA degree from the Institute of Cost Accounting of India (ICAI). Qualification includes Scrum Foundation Certificate (SFC). He holds certifications in blockchain technology, data analytics, and artificial intelligence.

He has over 18 years of experience working for some blue-chip financial institutions such as HSBC; ABN Amro, BNP Paribas; and IndusInd Bank.

In a statement sent to BusinessDay, the bank said Easwara whose appointment takes effect from 1 September, will lead the growth and sustainability ambition of the digital bank. He also worked in multiple large-scale projects and provided successful implementation, operations, solutions delivery and structuring deals, business management, which involved data analytics and presentation to the management team.

“Following a rigorous and extensive search process, we are pleased to have appointed someone of Easwaran calibre, experience, and ability to fill the important position,” said Xolane Ndhlovu, chairman, DafriGroup PLC. “Easwaran’s strong knowledge of digital banking and successful background in financial services put him in an excellent position to lead the growth and sustainability of DafriBank.”

DafriBank has subsidiaries in Nigeria and a presence in 23 countries. The company plans to migrate from digital-only operations to commercial banking in 2023.

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