NMB Holdings appoints new board chair

NMB Holdings appoints new board chair

HARARE, March 23 (The Source) – NMB Holdings Limited has appointed career banker Benedict Chikwanha to chair both boards of the NMB bank and NMBZ Holdings Limited with effect from last Thursday, the group said on Monday.

Chikwanha succeeds Tendayi Mundawarara who stepped down from the NMB boards on March 18 after serving for seven years.

Chikwanha who was appointed non-executive director of both the bank and holding company last year, has over 40 working experience in the banking sector where he has held various management roles, the company said in a statement.

Currently he is the executive director of the Leonard Cheshire Disability Zimbabwe Trust.

Mundawarara joined the NMB Bank Limited and NMBZ Holdings Limited boards as a non-executive director on 11 February 2008 and was  appointed as chairman in 2010.

During his tenure, Mundawarara oversaw the recapitalisation of the group through a private placement to three strategic institutional investors and the bank acquiring various lines of credit.