Absa Group deputy CEO Peter Matlare died on Sunday afternoon after succumbing to Covid-19-related complications, according to a statement from his family.
“Peter was a consummate professional, who made an immense contribution to business in South Africa and across the African continent,” the statement from the family reads.
At Absa Matlare steered operations in the rest of Africa where the lender had been expanding its corporate and investment banking unit while focusing on raising revenue from its existing business on the continent.
South Africa’s third largest bank started driving a strategic and organisational overhaul in 2018, after separating from its former parent Barclays plc, and positioned itself as a pan-African player.
Matlare was previously CEO of the South African Broadcasting Corporation and Tiger Brands, and a senior group executive at Vodacom.
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.