ABSA’s Peter Matlare loses battle with Covid-19

By Adelaide Changole and Roxanne Henderson

(Bloomberg) – Absa Group Deputy Chief Executive Officer Peter Matlare has died Sunday after succumbing to Covid-19 related complications.

The executive, 61, had been with South Africa’s third-largest bank since 2016 and was previously head of foods group Tiger Brands and state broadcaster SABC.

“We express our heartfelt sympathy and condolences to Peter’s wife Nomvula and to his daughters,” the Johannesburg-based lender said in a statement, following an announcement from his family.

At Absa, Matlare was responsible for steering operations in the rest of Africa, where the company had been expanding its corporate and investment banking unit. That was part of a strategic and organisational overhaul that started in 2018 after the group separated from its former parent Barclays and positioned itself as a pan-African player.

South Africa has been the worst-hit country by the Covid-19 pandemic on the continent, with more than 1.5 million infections and more than 50,000 deaths, according to data from the ministry of health.

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