November 25, 2020

25 November 2020


Prof Bonang MohaleHoughton, 25 November 2020 – Mark Barrett, Group CEO of SBV Services, today welcomes business leader, Chancellor and best-selling author Professor Bonang F Mohale as he takes on the role of Chairperson. Professor Mohale was a Lead Independent Director of the SBV Services Board of Directors prior to his appointment as Chairperson.

Mohale is the Chancellor of the University of the Free State and Professor of Practice in the Johannesburg Business School (JBS) College of Business and Economics. He is also Chairperson of the Bidvest Group Limited and serves on the boards of Swiss Re Africa Ltd and Rand Merchant Bank Ltd. He is the author of the best -selling book Lift as You Rise and has previously served in various CEO roles within the business and public sectors. He is a former Chief Executive of Business Leadership South Africa, Shell Oil Products Africa, Sanlam Limited, South African Airways, Drake and Scull and OTIS (SA).

“We welcome Bonang and look forward to working with him. SBV plays a key strategic role in – and engages with – a diverse group of stakeholders in the cash supply chain and risk management environment. Bonang’s considerable experience, extensive network and leadership acumen will be instrumental in consolidating our partnerships and in contributing to the growth and sustainability of the SBV business,” says Mark Barrett.

“We are an organisation that prides itself in being a People First organisation. Bonang believes strongly in good governance, transformation and education for both people and society. These are all key strategic deliverables for SBV, as we strive to develop our employees and to play a greater role within our communities. Bonang’s values and leadership philosophy are strongly aligned to those of SBV,” says Barrett.

Mohale says, “SBV is a business with a strong emphasis on its culture to build long term sustainability. Putting its people first enables SBV to accurately, consistently and safely keep money moving. This is an excellent opportunity to continue to learn and make an impact in advancing the business and to further my contribution, albeit in a small way, to society.”

SBV Services plays a key role in providing essential cash services to the Banks of South Africa including its four shareholder banks (ABSA Bank Limited, FirstRand Bank Limited, Nedbank Limited and The Standard Bank of South Africa Limited). It is also a service provider to the South African Reserve Bank. SBV ensures business continuity for the cash industry, managing the risks associated with processing and movement of cash, and ensuring that the most vulnerable citizens of our society have access to cash to pay for their daily necessities.

Mark Barrett says, “on behalf of the SBV Board of Directors, I wish to thank Dirk Reyneke, who has served as Chairperson to the SBV Services Board for the past three years, for the invaluable contribution that he has made to the SBV business and for his passion towards our people and our business”.

Barrett further adds, “SBV remains focused and proud of our industry-leading risk profile, with our company now accounting for less than 0,5% of Industry CIT attacks. This is a testament to our commitment to keeping our people safe.”


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