Top banking CEO says ‘No, thank you’ to the ANC

Absa chief executive Kenny Fihla has told the ANC that he is not interested in serving as the party’s mayoral candidate in Johannesburg.

This is according to News24 writer-at-large Carol Paton, who told Radio 702 that top executives and politicians did not want the position.

Paton said that the ANC has approached many well-known people, including Fihla, Jabu Moleketi, Mbhazima Shilowa, and Tokyo Sexwale.

They all declined the invitation to serve as the ANC’s mayoral candidate, which she said was seen as a “hospital pass.”

Paton’s revelations came as the ANC faces mounting pressure ahead of the upcoming local government elections, especially in Johannesburg.

The city is experiencing widespread mismanagement, corruption, infrastructure collapse, and service delivery failure, which is set to cost it at the polls.

To address poor leadership in Johannesburg, the ANC opened the selection pool to outside candidates and the general public. 

ANC Secretary-General Fikile Mbalula said they were no longer limiting their mayoral selection to their own elected leadership or internal membership ranks.

He said the ANC was looking beyond traditional party structures to find high-calibre talent capable of running major metros.

He explained that involving ordinary citizens is not a sign of weakness, but a core part of how the ANC operates.

“The ANC selection process is largely informed by public participation. It doesn’t start now,” he said in an SABC interview.

“All our councillors are selected through what we call community participation. We believe in a participatory process that involves the relevant constituencies.”

Daily Investor asked Absa about Fihla being approached by the ANC to serve as its mayoral candidate, but the bank preferred not to comment.

Kenny Fihla says, ‘No, thank you’

It is no surprise that Absa chief executive Kenny Fihla declined the opportunity to serve as Johannesburg mayor.

Apart from the deep-seated rot in the city and the need to deal with a fragile multi-party coalition, he is also a new CEO with an exciting career ahead of him.

Fihla was appointed as Group Chief Executive Officer and executive director of Absa Group and Absa Bank on 17 June 2025.

Before that, he had a long career at Standard Bank. He joined the bank in 2006 and quickly moved up the ranks.

He was appointed deputy chief executive of Standard Bank CIB in November 2016 and chief executive officer in May 2017.  He held this role until August 2024.

On 1 September 2024, he became Chief Executive Officer of Standard Bank South Africa and the Deputy Chief Executive Officer of Standard Bank Group.

He was then headhunted for the role of Group Chief Executive Officer and executive director of Absa Group and Absa Bank.

Armed with excellent banking experience, an MSc in Financial Economics, and an MBA, he was the top man for the job.

Over the last year, he put a strong team in place to ensure the bank does not suffer a repeat of its revolving door over the past seven years.

“I am acutely aware that Absa has had multiple leadership changes in recent years. Stability at the top is not a ‘nice to have’. It is a precondition for execution,” Fihla said.

It is therefore no surprise that Fihla would decline an offer to leave the bank so shortly after his appointment.

However, it also makes no sense professionally. He is a skilled banker who is working in a professional environment which he knows well.

To enter the political arena, especially in a corruption-ridden mess like Johannesburg, could not hold much appeal.

There is also the issue of salary. The Johannesburg mayor earns R1.65 million annually. In comparison, Absa paid Fihla R128 million in 2025.