Gcabashe to step down as Standard Bank chair
Financial institution Standard Bank has announced the retirement of chairperson and director of the company and the Standard Bank of South Africa (SBSA) boards Thulani Gcabashe at the conclusion of each of the companies’ respective annual general meetings to be held in May.
“The boards wish to express deep appreciation to Thulani for his exemplary leadership, stewardship and dedication to the Standard Bank Group during his tenure and wish him all the success in his future endeavours,” Standard Bank said in a statement on March 31.
The company said the process to appoint Gcabashe’s successor was under way and that an announcement in this regard would be made in due course.
Gcabashe had served as State-owned utility Eskom CEO from 2000 to 2007. He was appointed as a director of Standard Bank Group and SBSA in 2003, and was appointed chairperson of both boards in May 2015.
Gcabashe also serves as the chairperson of energy solutions company Hive Hydrogen South Africa and executive chairperson of Built Africa
Hive Hydrogen, Built Africa and chemicals company Linde’s wholly owned South African subsidiary Afrox collaborated recently to establish a green ammonia export plant in Nelson Mandela Bay, in the Eastern Cape.
The first phase of the project is planned to come online in 2025, with full operation by the end of 2026.
The proposed 780 000 t/y, $4.6-billion green ammonia plant will have its own dedicated green power supply at the Coega Special Economic Zone alongside the Port of Ngqura.
The renewable energy and energy storage component alone will be the biggest project of its kind in sub-Saharan Africa and one of the largest globally.
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