Following the successful conclusion of the recapitalisation exercise, the Board welcomes the coming on board of Mr Ben Zwinkels, Mr Cheikh Ndiaye and Mr Deepak Malik as non-executive directors of NMBZ Holdings Limited and NMB Bank Limited with effect from 31 January 2014.
Mr Ben Zwinkels represents AfricInvest on the board. Mr Zwinkels is the Executive Chairman of AfricInvest Capital Partners. He has over 35 years of experience in Financial Sector Development in Africa of which 30 years were spent working for FMO (the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. from the Netherlands) where he retired as an employee as of 01 July 2012.
Mr Cheikh Ndiaye represents the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) on the board. Mr Ndiaye has over 30 years of commercial banking experience of which 28 years were spent with Citibank. Mr Ndiaye rose from a Credit Analyst position to Regional Director of Operations and Technology for 12 countries in Africa and Middle East managing over 1500 people. At Ecobank, Mr Ndiaye managed Operations and Technology in 30 countries with over 7000 staff. Currently Mr Ndiaye is an independent bank consultant.
Mr Deepac Malik represents the Norwegian Investment Fund for Developing Countries (Norfund) on the board. Mr Malik is a Chartered Accountant and has over 30 years’ experience more than 15 years of which he has spent in the financial services sector. Currently Mr Mliak is the Head on the Southern Africa Office and Head of Department – Financial Institutions for Norfund.
The Board also welcomes the coming on board of Ms Maureen Svova and Mr Ben Chikwanha as Independent Non-Executive Directors on the NMBZ Holdings Limited and NMB Bank Limited boards with effect from 31 January 2014. Ms Svova is one of the pioneer black female Chartered Accountants with over 25 years’ experience in Finance and Accountancy. Currently Ms Svova is managing a business consultancy company.
Mr Ben Chikwanha is an experienced banker with close to 50 years working experience in the banking sector in various areas including Risk, Retail, Corporate Banking and Corporate Finance. Mr Chikwanha has held various management roles in the banking sector including being a Managing Director, Executive Director and Non-Executive Director. Currently Mr Chikwanha is an Executive Director of the Leonard Cheshire Zimbabwe Trust.
Ms Locadia Majonga and Mr James de la Fargue resigned as non-executive directors of NMBZ Holdings Limted and NMB Bank Limited with effect from 20 November 2013. Mr J de la Fargue remains an alternate director to Mr Jonathan Chenevix-Trench on both the NMBZ Holdings Limited and NMB Bank Limited boards. The board thanks Ms Majonga for her contributions to the well-being of the Company and wishes her well in her future endeavours.
Mr Francis Zimuto and Mr Benson Ndachena resigned as executive directors of NMBZ Holdings Limited with effect from 20 November 2013. Francis and Benson remain employees of the group.
BY ORDER OF THE BOARD
07 March 2014