AFRICAN Banking Corporation Holdings Zimbabwe has appointed Zandile Shaba as the new managing director taking over from Joe Sibanda who has been reassigned to African Banking Corporation Mozambique.
Prior to her appointment Shaba was head of ABC Zambia. Before her appointment in Zambia she was managing director of ABC Mozambique which ABCH had just bought from BNP/Nedbank in 2002.
Shaba comes at a time when CITI Venture Capital International (CVCI), a subsidiary of Citigroup, the world’s largest bank by assets, approved an investment of US$25 million by way of a two year convertible loan into ABC Holdings (ABCH).
A number of commercial banks have made new senior appointments over the past three months. Premier Finance Group (PFG) recently appointed Barrie Gavin Hounsell as its chief executive following the resignation of its former head, Exodus Makumbe.
PFG is the holding company incorporating Premier Banking Corporation Ltd, its flagship business, Premier Capital Management Ltd and Premier Asset Management Ltd.
Hounsell replaces Raymond Chigogwana who had been the acting chief executive of the financial institution.
Chigogwana had been heading the banking institution following the exit of Makumbe.Â
Chigogwana will revert back to his position as the managing director of the bank.
Stanbic recently appointed finance director Joshua Tapambwa to the position of managing director following the reassignment of managing director Pindi Nyandoro to head Standard Bank Group’s South-East African region.
She will be responsible for Malawi, Mozambique, Lesotho, Swaziland and Zimbabwe. Nyandoro will be based in Johannesburg.
Nyandoro will report directly to Standard Bank Africa managing director Craig Bond.
George Guvamatanga, who was an executive of Barclays’ Wholesale Banking division, was this year appointed managing director taking over from Charity Jinya who left to join Absa.Â Â
By Paul Nyakazeya