Dr. Gaby Magomola has been appointed as the Chairman of Revolut South Africa, according to Revolut, the leading fintech company in the world with over 65 million retail customers.
- Gaby Magomola has been appointed as the Chairman of Revolut South Africa, according to Revolut, the leading fintech company in...
- One of South Africa’s most illustrious banking pioneers, Dr.
- Magomola is a former Chief Executive of African Bank and has held senior executive positions at Citibank, Barclays Bank, and...
- Magomola’s contributions to South Africa’s economic transformation Dr.
Keep reading for the full breakdown on Dr Gaby Magomola — everything you need to know is covered below.
One of South Africa’s most illustrious banking pioneers, Dr. Magomola, brings to the position decades of expertise in economic transformation, governance, and finance. In addition to confirming that it has formally submitted its Section 12 application—the first formal step governed by the Banks Act to establish a bank in South Africa—his appointment marks a significant milestone in Revolut’s commitment to responsible growth, innovation, and access in the country’s evolving financial landscape.
Dr. Gaby Magomola’s portfolio
Dr. Magomola is a former Chief Executive of African Bank and has held senior executive positions at Citibank, Barclays Bank, and First National Bank. He was the Deputy Chairman of the Development Bank of Southern Africa (DBSA) until recently.
He was also a member of the Audit and Risk and Nominations Committees, among other subcommittees of the Board. Board appointments at significant listed and unlisted companies across various industries are part of Magomola’s business career.
Dr. Magomola’s contributions to South Africa’s economic transformation
Dr. Magomola is regarded as one of the pioneers of economic transformation in South Africa and has long advocated for inclusive economic growth. His vocal support of ethical leadership and equal opportunity has been acknowledged and rewarded with multiple accolades.
Among his lifetime honors are the Freedom of the City of Birmingham (USA), the University of South Africa Chancellor’s Award (2022), and an Honorary Doctorate in Commerce and Economics from the University of Zululand (2023). In January 2026, Dr. Magomola will assume the position.
Revolut CEO enthusiastic about Magomola’s appointment
Jacques Meyer, CEO of Revolut South Africa, said: “Dr Magomola’s experience is invaluable as we deepen our commitment to the South African market. His strategic counsel will be critical in navigating the local regulatory environment, ensuring we build a locally relevant service that addresses the financial needs of all customers in South Africa.”
Magomola’s acceptance speech
Dr. Gaby Magomola, Incoming Chairman of Revolut South Africa, added: “Revolut has proven to be a catalyst for change in global finance, and I look forward to guiding its mission in South Africa. Our goal is not just to launch a product, but to champion greater financial access and innovation for everyone across the country.”