--- title: Discovery Bank appoints Reuel Khoza as chairperson | ITWeb description: Effective today, the celebrated businessman is chairperson of Discovery Bank, replacing Adrian Gore, who remains a director of the bank. image: https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/jlVlhUvj2CguQXyEuOpgPy26n_DMnXsWVBwGgDf9VtZ3o1QGbBKdEaxVo6cTmlCOLCTbLprcNUMNXALCkKa44fd0qybJUlyqB_pf=w816-h428.jpeg --- [![vast.png](https://hubspot.obscuretech.net/hs-fs/hubfs/ObscureLogo-02.png?width=1000&height=354&name=ObscureLogo-02.png "vast.png")](http://www.obscuretech.net) Open main menu Close main menu - [Technology Partners](https://obscuretech-6344971.hs-sites.com/technology-partners) Open the submenu - [BeyondTrust](https://obscuretech-6344971.hs-sites.com/beyondtrust) - [Cybereason](https://obscuretech-6344971.hs-sites.com/cybereason) - [Forescout](https://obscuretech-6344971.hs-sites.com/forescout) - [Gytpol](https://obscuretech-6344971.hs-sites.com/gytpol) - [Netskope](https://obscuretech-6344971.hs-sites.com/netskope) - [OKTA](https://obscuretech-6344971.hs-sites.com/okta) - [OneTrust](https://obscuretech-6344971.hs-sites.com/onetrust) - [Palo Alto Networks](https://obscuretech-6344971.hs-sites.com/palo-alto-networks) - [Pentera](https://obscuretech-6344971.hs-sites.com/pentera) - [Proofpoint](https://obscuretech-6344971.hs-sites.com/proofpoint) - [Radware](https://obscuretech-6344971.hs-sites.com/radware) - [RiskIQ](https://obscuretech-6344971.hs-sites.com/riskiq) - [Rubrik](https://obscuretech-6344971.hs-sites.com/rubrik) - [Splunk](https://obscuretech-6344971.hs-sites.com/splunk) - [Tenable](https://obscuretech-6344971.hs-sites.com/tenable) - [Trend Micro](https://obscuretech-6344971.hs-sites.com/trend-micro) - [Obscure Blog](https://hubspot.obscuretech.net/blog) - [About Us](https://obscuretech-6344971.hs-sites.com/about-us) - [Contact Us](https://obscuretech-6344971.hs-sites.com/contact-us) # Discovery Bank appoints Reuel Khoza as chairperson [ITWeb](https://hubspot.obscuretech.net/blog/author/itweb) [Share this blog post on Twitter](https://twitter.com/intent/tweet?text=I+found+this+interesting+blog+post&url=https://hubspot.obscuretech.net/blog/office/obscuretechnologies/content/jn1gp7oy3bjqjl6m) [Share this blog post on Facebook](http://www.facebook.com/share.php?u=https://hubspot.obscuretech.net/blog/office/obscuretechnologies/content/jn1gp7oy3bjqjl6m) [Share this blog post on LinkedIn](http://www.linkedin.com/shareArticle?mini=true&url=https://hubspot.obscuretech.net/blog/office/obscuretechnologies/content/jn1gp7oy3bjqjl6m) ![](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/jlVlhUvj2CguQXyEuOpgPy26n_DMnXsWVBwGgDf9VtZ3o1QGbBKdEaxVo6cTmlCOLCTbLprcNUMNXALCkKa44fd0qybJUlyqB_pf=w816-h428.jpeg) ![Discovery Bank’s new chairperson, Dr Reuel J Khoza.](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/jlVlhUvj2CguQXyEuOpgPy26n_DMnXsWVBwGgDf9VtZ3o1QGbBKdEaxVo6cTmlCOLCTbLprcNUMNXALCkKa44fd0qybJUlyqB_pf.jpeg) Discovery Bank’s new chairperson, Dr Reuel J Khoza. Discovery Bank has appointed Dr Reuel J Khoza as chairperson, effective today, replacing Adrian Gore, who remains a director of the bank. The digital-only bank, owned by Discovery Health, says Dr Khoza’s appointment follows the approval of the Prudential Authority of the South African Reserve Bank and complies with the Banks Act that requires the chairperson to be an independent, non-executive director. Commenting on the appointment, Gore, who is also CEO of Discovery Health, says: “Reuel brings a wealth of experience and will add tremendous value in the governance of Discovery Bank. The bank BANK [![](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/UC-Wireless-logo_xl-Sep-18-2023-05-35-44-9493-PM.gif)](http://adx.itweb.co.za/adclick.php?bannerid=27012&zoneid=0&source=&dest=http%3A%2F%2Fwww.uc-wireless.com&ismap=) [UC-Wireless is a solutions-based distributor for integrated wireless communications in healthcare, mining, education, hospitality and retail.](http://adx.itweb.co.za/adclick.php?bannerid=27012&zoneid=0&source=&dest=http%3A%2F%2Fwww.uc-wireless.com&ismap=) ![](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/adlog-Sep-18-2023-05-35-02-8634-PM.php) is performing excellently and we believe he will play a significant role as we continue to build a world-class bank.” ##### See also ## [Bank Zero on track for 2020 launch, says CEO](https://hubspot.obscuretech.net/content/KzQenMjVmY3MZd2r) ## [TymeBank plans offshore expansion after scoring R1.6bn funding](https://hubspot.obscuretech.net/content/lwrKxq3Kk3Oqmg1o) Dr Khoza is currently interim chairperson of the Public Investment Corporation and has served on the boards of other major banking BANKING [![](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/UC-Wireless-logo_xl-Sep-18-2023-05-35-44-9493-PM.gif)](http://adx.itweb.co.za/adclick.php?bannerid=27014&zoneid=0&source=&dest=http%3A%2F%2Fwww.uc-wireless.com&ismap=) [UC-Wireless is a solutions-based distributor for integrated wireless communications in healthcare, mining, education, hospitality and retail.](http://adx.itweb.co.za/adclick.php?bannerid=27014&zoneid=0&source=&dest=http%3A%2F%2Fwww.uc-wireless.com&ismap=) ![](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/adlog-Sep-18-2023-05-35-04-3314-PM.php) institutions, most recently as chairperson of Nedbank Group. Discovery Bank has been on a [growth trajectory](https://www.itweb.co.za/content/G98YdqLYw5evX2PD) since its launch. The bank reached more than 540 000 accounts in the six months ended December 2020, with over 287 000 clients, piling pressure on competitors in the growing digital financial services sector. Retail deposits reached R5.7 billion, as at 31 December 2020, with advances more stable at R3.8 billion, which it says reflects its conservative lending strategy, resulting in a 69% lower arrears rate compared with the market. Discovery Bank was first announced in November 2018 and launched in March 2019, when it touted the new offering as the “world’s first behavioural bank” and a fully-digital bank that can be joined by anyone with a smartphone. It is one of the digital banks BANKS [![](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/UC-Wireless-logo_xl-Sep-18-2023-05-35-44-9493-PM.gif)](http://adx.itweb.co.za/adclick.php?bannerid=27013&zoneid=0&source=&dest=http%3A%2F%2Fwww.uc-wireless.com&ismap=) [UC-Wireless is a solutions-based distributor for integrated wireless communications in healthcare, mining, education, hospitality and retail.](http://adx.itweb.co.za/adclick.php?bannerid=27013&zoneid=0&source=&dest=http%3A%2F%2Fwww.uc-wireless.com&ismap=) ![](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/adlog-Sep-18-2023-05-35-00-1862-PM.php) that are shaking up the South African retail banking sector, as they are not stuck with legacy technologies and have cheaper fees. The other players are TymeBank and Bank Zero. ### Leave a Comment ## Related Articles [![](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/4G9I5R11uICXWo3UcXBR0zlshbyuzp0nNnMl271gSZLL_Zo3KFuvqMjUSWSD4Gfhy8zBcZ_BT4umiZnsy_oBS6M=w816-h428.jpeg)](https://hubspot.obscuretech.net/blog/office/obscuretechnologies/content/gxwqdq1z1a1vlpvo) ### [South African banks snub social media conversations](https://hubspot.obscuretech.net/blog/office/obscuretechnologies/content/gxwqdq1z1a1vlpvo) [ITWeb](https://hubspot.obscuretech.net/blog/author/itweb) [Read More](https://hubspot.obscuretech.net/blog/office/obscuretechnologies/content/gxwqdq1z1a1vlpvo) [![](https://hubspot.obscuretech.net/hubfs/Imported_Blog_Media/RAehJ09AnpmCErq4p580P27rmRhL5Y2UfKy1KKW8pfbELSdEuzwng5MOkz9-DdyosKIwQIYDJuCr-o6u1iZGpRFc=w816-h428.jpeg)](https://hubspot.obscuretech.net/blog/office/obscuretechnologies/content/lln14mmjpzrqj6aa) ### [Bank Zero introduces pricing guide, promises financial freedom](https://hubspot.obscuretech.net/blog/office/obscuretechnologies/content/lln14mmjpzrqj6aa) [ITWeb](https://hubspot.obscuretech.net/blog/author/itweb) [Read More](https://hubspot.obscuretech.net/blog/office/obscuretechnologies/content/lln14mmjpzrqj6aa) #### About - [Privacy Policy](https://obscuretech-6344971.hs-sites.com/privacy-policy) - [Company Documents](https://obscuretech-6344971.hs-sites.com/company-documents) - [Blog](https://hubspot.obscuretech.net/blog) - [Contact Us](https://obscuretech-6344971.hs-sites.com/contact-us) #### Find Out More - [Training](https://obscuretech-6344971.hs-sites.com/training) - [Vendor](https://obscuretech-6344971.hs-sites.com/technology-partners) [info@obscuretech.net](mailto:info@obscuretech.net) [+27 12 941 2032](tel:0129412032) Block B, Unit 2, Top Floor, Southdowns Office Park, 21 Karee Street, Irene, Centurion, 0157 [Follow us on Facebook](https://www.facebook.com/obscuretech/) [Follow us on LinkedIn](https://www.linkedin.com/company/12905777/) [Follow us on Twitter](https://twitter.com/obscuretechsa) [Follow us on Instagram](https://www.instagram.com/obscuretech) © 2021 Obscure Technology (Pty) Ltd. 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