ABC Holdings (ABCH) has appointed Dr Blessing Mudavanhu as the group’s acting chief executive officer and Wallace Sikachoma group acting chief financial officer following a management shake-up last year. Both appointments are awaiting regulatory approval.
Dr Mudavanhu has been with the group for six years.
“He has served, since joining ABCH in February 2009, as group chief risk officer. Dr Mudavanhu worked for many years in financial services in New York and prior to joining ABCH, has been a director in global risk management at the Bank of America Merrill Lynch,” said the bank in a statement.
Dr Mudavanhu has a doctorate in Mathematics from the University of Washington and a Masters in Financial Engineering from the University of California.
Sikachoma has been with ABCH for 12 years.
“He has served for the past six years as group finance executive, providing leadership in all matters relating to the group’s financial reporting, planning and controls,” said the bank.
Sikachoma has been the head of BancABC Mozambique.
He is a chartered accountant with membership to the Association of Certified Chartered Accountants (ACCA) and has a Masters in Business Administration from Oxford Brookes University.
In December, the bank announced the stepping down of directors among them Douglas Munatsi who was the group chief executive officer and Bheki Moyo who was the group’s chief financial officer.
Atlas Mara bought BancABC which has a primary listing on the Botswana Stock Exchange for about $265 million in the company’s first African acquisition.
Founded in 1956, the bank offers financial services in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe.