Absa’s corporate and investment banking (CIB) unit has named Msizi Khoza as its head of environmental, social and governance (ESG).
Khoza’s appointment is effective as of November 1 and was done to ensure that ESG receives the “right level of focus” given Absa’s strategy to “lead in this space,” according to an internal memo to staff by Charles Russon, the CEO of Absa CIB Pan-Africa.
Absa is South Africa’s fourth-biggest lender by market value.
“Msizi brings financing product knowledge, strategic execution, leadership, as well as public policy analysis experience to bear in this new role,” Russon said in his memo. “He will work alongside our existing product coverage and infrastructure teams to drive our ambitions in ESG.”
Khoza’s appointment follows on from the naming of Punki Modise as group chief strategy and sustainability officer, which became effective on July 1. In a statement at the time, Absa said that Modise’s appointment was due to “the elevated importance of both strategy and sustainability” to the group.
According to Khoza's LinkedIn profile he graduated from the University of Johannesburg with a master’s degree in electrical and electronics engineering in 2012 with the grade of summa cum laude. He also has consulting experience having worked in the Presidency between June 2013 and April 2014 where he drove the recommendations of the National Planning Commission, particularly in the fields of energy and transportation.
Khoza also spent a year working as an associate at Ethos Private Equity before joining Absa in April 2017 as deputy chief of staff in the office of the group CEO. He later moved into structured finance in June 2019 and has been in that role until his latest appointment at the bank.
Absa has faced harsh criticism of its climate-risk policies from shareholder activist group Just Share, which accused the bank in July of failing to understand climate science. The activist group also said Absa had fallen behind its peers in taking proactive steps to facilitate the global transition to a low-carbon economy.
Russon’s internal memo also announced that Neil Slabbert, the Absa CIB unit’s head of business enablement services, would become a member of the CIB executive committee with immediate effect.
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