THE Deposit Protection Corporation (DPC) says Vusilizwe Vuma has resigned as chief executive after his appointment in June 2019.

The corporation has initiated the recruitment process for a substantive replacement in terms of the provisions of the Public Entities Corporate Governance Act (Chapter 10:31).

Vuma was elected vice-chairman of the African Regional Committee (ARC) of the International Association of Deposit Insurers, last year with the responsibility to oversee the establishment of the African Centre for Studies of Deposit Insurance, as the continent forges to strengthen its banking industry.