Mary Vilakazi, Group Chief Executive Officer of FirstRand, received the African Banker award at the AFIS Awards 2026 in Luanda, Angola.

Vilakazi, who became FirstRand’s CEO in April 2024 and is the first woman to lead the group, was recognised for her role in driving strong financial performance across the bank’s retail, commercial and asset‑finance businesses.

FirstRand reported normalised earnings of R23.2 billion for the six months to December 2025, an 11 percent rise year‑on‑year, and a record dividend for the year ending June 2026, reflecting double‑digit profit growth at its core banking units.

The group is also reshaping its international footprint, having exited its UK operations as part of a broader strategy to allocate capital to markets offering sustainable returns.

In October 2026, Vilakazi said FirstRand is pursuing the acquisition of a smaller Kenyan bank to secure an established local platform for organic growth, while also looking at insurance and investment‑banking opportunities in the market.

FirstRand has maintained a representative office in Kenya since 2012, initially focused on infrastructure and project‑finance work, and now sees a full‑bank entry as a way to compete with other South African groups expanding in East Africa.

The Kenyan banking sector is undergoing regulatory change, with the Central Bank of Kenya proposing higher minimum capital requirements that are prompting consolidation and creating acquisition opportunities for foreign entrants.

FirstRand’s Kenyan ambitions follow Nedbank’s recent purchase of a 66 percent stake in NCBA in October 2026, which has given another South African institution a substantial regional platform.