From SourceWatch
(Redirected from Teba Bank)
Jump to navigation Jump to search

"Ubank is a well-established financial services provider that has grown over the years and managed to entrench itself primarily within the gold and platinum mining communities. The mandate and plan to service the broader working market in South Africa has become imperative in order to extend affordable financial services to South Africa. We have a strong presence and customer accessibility, mainly in selected mining and rural communities in South Africa. " [1]

"In June 2000, Ubank (Then Teba Bank), was granted a banking license, although its ownership remained in the form of a Trust managed by trustees who areelected by the National Union of Mineworkers and the South African Chamber of Mines. The beneficiaries of the Trust are the Bank`s customers.

In 2007, Ubank welcomed Mark Williams as its Chief Executive, and saw a new vision, mission, values and strategy being brought to life. Essentially, this saw the Bank preparing itself to become the "Workers Bank of Choice".

"In October 2010, the name of the Bank was changed to Ubank and launched to the public. Since the birth of the new brand and strategy, various initiatives to improve and expand the business have been delivered." [2]

In November 2012, Ubank appointed a seasoned banker Luthando Vutula as the new Chief Executive Officer to take the bank's vision and mission as the workers bank of choice forward.


Accessed September 2012: [3]

  • Luthando Vutula (Chief Executive Officer)
  • Harriet Heymans - (Chief Financial Officer)
  • Jacob Henry de Villiers Botha - (Chairman)
  • Thandeka Dlamini
  • Hermanus Johannes Groenewald
  • Zoli Macanda
  • Lerao Mangope
  • Nelson Miya
  • Ayanda Mjekula
  • Charles Stofile
  • Head of Legal and Acting Company Secretary: Ms Nohlanga Motaung



Resources and articles

Related Sourcewatch


  1. Ubank Profile, organizational web page, accessed September 1, 2012.
  2. Ubank History, organizational web page, accessed September 1, 2012.
  3. Ubank Leadership, organizational web page, accessed September 1, 2012.