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MAKABELO MALUMANE
MD & HEAD OF TRANSACTION BANKING – STANDARD CHARTERED KENYA & EAST AFRICA
“Creating pathways for growth, fostering partnerships, and shaping the future of our economies – that is what finance is really about, beyond the numbers.” Makabelo Malumane asserts. Makabelo is an accomplished banking executive whose career reflects a deep understanding of corporate banking’s transformative power. As Managing Director (MD) and Head of Transaction Banking for Standard Chartered Kenya and East Africa, she leads with a blend of strategic insight, innovative thinking, and a relentless focus on client success.
Makabelo oversees the transformation of Transaction Banking across East Africa, driving the bank’s growth and relevance to large organisations through strategic partnerships with technology firms, government institutions and fintech innovators. Her work encompasses payments, treasury management, trade finance, and previously securities services, all crucial components in the region’s financial ecosystem.
Under her leadership, Standard Chartered has rolled out several innovative cash management solutions and digitised trade finance capabilities that have significantly streamlined operations for multinationals and large corporates with multi-market footprints. Her efforts have garnered industry recognition, including awards from Global Finance for Best Cash & Treasury Management capabilities, Global Trade Review for Trade Finance product excellence and Euromoney for Best Digital Bank in Kenya.
Makabelo is a sought-after voice in the finance industry, regularly contributing to key events and thought-leadership platforms. In February 2025, she served as a keynote speaker at the World Financial Innovation Series (WFIS) in Nairobi, where she shared insights on the rapid growth of digital currencies (e.g. stablecoins) in Africa and their potential to enhance efficiencies beyond cross-border flows. “Stablecoins are not just another digital asset; they represent an opportunity to reimagine corporate treasuries and priorities in a dynamic economic landscape,” she noted during the event.
In late 2024, Makabelo was at the forefront of Standard Chartered’s flagship Treasury Leadership Forum in Kenya, which delved into the transformative journey of digital treasuries and the impact of the Africa Continental Free Trade Area (AfCFTA) on the prosperity of the continent. The event, themed ‘The Blueprint for Tomorrow’, brought together industry leaders to discuss the evolution of the payment landscape, the value of adopting ISO 20022 messaging standards and how organisations can prioritise data analytics and the use of Artificial Intelligence to future-proof their treasury management strategies.
Makabelo’s professional journey reflects a consistent pattern of excellence and innovation. Before joining Standard Chartered, she was Head of Sales for East Africa Transactional Products & Services business at Stanbic Bank. In this role, she provided tailored working capital solutions for multinational corporations across sectors such as telecommunications, manufacturing, and agriculture. Her passion for understanding clients’ operational challenges enabled her team to deliver holistic solutions that drove efficiency and growth.
Earlier in her career, she worked at Citi, where she held roles such as Vice President and Europe, Middle East and Africa (EMEA) Trade Product Manager. During her tenure, she was instrumental in developing trade products that addressed critical growth sectors like Oil & Gas, with a focus on East Africa. Her work laid the foundation for robust trade corridors across Europe, the Middle East, and Africa. Before Citi, she honed her consultancy and project management skills at Accenture, where she led technology-driven transformation projects that overhauled legacy systems to pave the way for new-age processing engines and client-facing platforms for large South African organisations.
Makabelo’s academic background underscores her commitment to continuous learning and professional development. She holds a Bachelor of Science (BSc) degree in Information Technology (IT), with majors in Computer Science and Psychology, from the University of Cape Town (UCT). She later earned a Postgraduate Diploma in Management from the University of the Witwatersrand Business School, where she deepened her expertise in finance, marketing, strategy, and organisational development. Notably, Makabelo has completed the Board Competency Programme through the Federation of Kenya Employers (FKE) that focuses on corporate governance effectiveness in boards and was recently appointed a board director for a Fintech company in Kenya.
Beyond her corporate accomplishments, Makabelo is deeply invested in community development. She actively supports initiatives focused on uplifting the youth, particularly programs that empower girls to pursue careers in science, technology, engineering, and mathematics (STEM). Drawing from her own experience navigating the intersection of finance and technology, she believes that providing young minds with access to knowledge, coaching and mentorship can truly move the continent towards being a value-creator – a continent full of African talent embracing technology to develop home-grown solutions for African problems. Over the last few years, she has been a dedicated mentor of the Standard Chartered Women in Tech programme in partnership with @IBizAfrica Centre at the Strathmore University where she works with young women to refine their technology-led business models so as to qualify for seed funding to help scale their businesses.
Makabelo believes that Diversity and Inclusion is still a critical business imperative in the African setting and has been championing various initiatives in this space including the launch of the 30 percent Club East Africa Chapter with Business Engage to increase female representation to a minimum of 30 percent at Board and Executive Management levels. She has been a core voice in driving for inclusivity in the workplace by leading and championing initiatives that fully embrace the concept of building a better and more equal tomorrow for women and African talent within the global stage. She believes in a culture of experimentation to anchor learning in a less rigid format and has delivered digital learning initiatives anchored on gamification to raise awareness of new technologies and the opportunities that can propel growth for individuals and economies. In 2023, Makabelo was recognised as one of the Top 3 Positive Role Models under the Accenture East Africa Gender Mainstreaming awards.
In an industry often defined by tradition, Makabelo Malumane stands out as a trailblazer who combines technical expertise with a visionary outlook. Her dedication to driving digital innovation, championing inclusive growth, and fostering cross-border collaborations makes her a deserving name in this edition of Business Monthly EA.
AUTHOR: KAREN NDUKU
EDITOR: MAKABELO MALUMANE
