Washaya gets NMBZ top post

ACTING NMBZ Holdings Limited chief executive officer Mr Benefit Washaya has been confirmed as the group’s substantive boss, taking over from Mr James Mushore, who stepped down in October last year.

Mr Washaya’s appointment is, however, still subject to Reserve Bank of Zimbabwe approval, which is expected anytime this week.

NMBZ has also appointed Mr Benedict Chikwanha as the new board chairman taking over from Mr Tendayi Mundawarara, who chairs his final board meeting today.

Mr Mundawarara announced his resignation at the group’s annual general meeting last year despite having been re-elected by shareholders.

Highly placed sources familiar with the developments told The Herald Business that the appointments are expected to be endorsed by the NMBZ Holdings board which meets today.

“Mr Washaya’s appointment is still subject to Reserve Bank of Zimbabwe approval but we expect it to be approved without hassles. His credentials in the banking sector speak for themselves. Depending on how quickly the RBZ grants his appointment, we expect a formal statement from the bank this week,” sources said.


Mr Chikwanha’s appointment as the new board chairman has been approved by the central bank.

“Mr Chikwanha has been selected as the new board chairman to replace Mr Tendayi Mundawarara who steps down effectively after Tuesday’s board meeting. His appointment has already been approved by the Reserve Bank,” sources said.

Mr Washaya currently serves as the acting chief executive officer of NMBZ Holdings and has been managing director of the group’s banking arm since April 2010.

He has been with NMB Bank since January 2008.

According to a profile posted on the bank’s website, Mr Washaya commenced his banking career with Barclays Bank in 1978 where he held general management positions including director’s assistant, risk management and business centre director.

In 1997, he joined NMB Bank where he became divisional director, risk management.

Mr Washaya moved to Metropolitan Bank of Zimbabwe Limited in March 2004 as chief executive officer.

He rejoined NMB Bank as chief executive officer in January 2008. Mr Washaya is a certified member of the Institute of Bankers of South Africa ACIB (SA) and a Chartered Secretary (ACIS).

He holds a Master’s Degree in Business Administration, specialising in finance, from the University of Wales.