Access Bank Rwanda appoints Faustin Rukundo as new Managing Director

RWANDA – Access Bank Rwanda Plc. Has announced the appointment of Mr. Faustin Rukundo Byishimo as Managing Director, effective May 1, 2021. He succeeds Mr. Jean-Claude Karayenzi who has been deployed to the Access Bank Group. Mr. Faustin Rukundo Byishimo has a wealth of experience of over 20 years of which 18 in the Banking industry and joins Access Bank from another financial institution where he was, in his last assignment and for the past 5 years, the Executive Director for Business Development. In this role, he led and oversaw…

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Jubilee Life Insurance Tanzania appoints Hellena Mzena as CEO

TANZANIA – The Board of Jubilee Life Insurance Corporation of Tanzania Limited has announced the appointment of Ms Helena Christopher Mzena as the insurer’s Chief Executive Officer. Ms Mzena has been the company’s; Chief Financial Officer having joined the underwriter in 2011 and has held various senior management positions in both Jubilee Insurance Company of Tanzania and Jubilee Life Insurance Corporation of Tanzania Limited. She is considered a highly experienced professional with an extensive background in strategy and leadership. She has over ten years of experience in the insurance industry.…

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I&M Holdings completes acquisition of Ugandan lender Orient Bank

UGANDA – I&M Holdings Plc. has completed the acquisition of 90 percent shareholding in Uganda’s privately-owned lender Orient Bank Ltd (OBL) as part of its regional expansion plan. In a press statement, I&M said the acquisition was completed on April 30, 2021 after the transaction received the necessary approvals from the Central Bank of Kenya, Bank of Uganda, Capital Markets Authority of Kenya and the Common Market for Eastern and Southern Africa (COMESA). The agreement for the deal priced at US$26.93 million was made in July 2020. “I&M Group aspires to…

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Absa Bank appoints Punki Modise as interim financial director

SOUTH AFRICA – Financial services group Absa has appointed Punki Modise as an interim financial director and as an executive director on the boards of Absa bank. The announcement made by the financial institution comes after Jason Quinn who held the position of financial director was appointed interim Group Chief Executive. Quinn replaced Daniel Mminele who stepped down due to ’divergent professional views and approaches’ with Absa board. Commenting on his departure, the former CEO said: “It is indeed regrettable that we should have had to part ways so soon…

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Equity Group unveils EquityBCDC in the Democratic Republic of Congo

DRC – Kenya’s President Uhuru Kenyatta, has unveiled the new brand of EquityBCDC, a subsidiary of Kenya’s Equity Group Holdings Plc located at the towering 18 floor Equity Centre building in Kinshasa. The head office of Equity BCDC which will also serve as the head office for the Central Africa region where Equity is looking for its next phase of regional expansion. Speaking during the unveiling ceremony, President Uhuru congratulated Equity for the milestone of its successful acquisition, integration and merger to create EquityBCDC which is now the second largest…

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Absa Group confirms the departure of CEO Daniel Mminele

SOUTH AFRICA – Absa Group’s chief executive officer Daniel Mminele is set to step down just 16 months in the position. The financial services group has officially confirmed. Daniel Mminele was Absa Bank first black Chief Executive Officer. Confirming the reports, Absa bank announced, through the Johannesburg Stock Exchange  sent statement, that it was working on a separation agreement with group chief executive Daniel Mminele. The bank said: “In response to press speculation, shareholders are advised that the boards of directors of Absa Group and Absa Bank (“Boards”) and their…

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Standard Bank Group appoints Yinka Sanni as new CEO for Africa

SOUTH AFRICA – Africa’s biggest lender by assets Standard Bank Group, has appointed Yinka Sanni as its new Chief Executive Officer for Africa regions and a member of the Group Leadership Council effective from 15 April 2021. Sanni, previously the Group’s Regional Chief Executive for West Africa, succeeds Sola David-Borha, who has retired after 31 years with the lender. Sanni has a bachelor’s degree in Agricultural Economics and a Masters degree from the University of Nigeria and Obafemi Awolowo University in Nigeria, respectively. Yinka Sanni boasts of a career in…

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African Bank Group appoints Kennedy Bungane as Chief Executive Officer

SOUTH AFRICA – Retail bank African Bank Group has announced the appointment of Kennedy Bungane as its chief executive officer effective April 14, 2021 following approval from the Prudential Authority. The 46 year old new chief executive has more than 20 years’ banking experience, having started his career at Standard Bank in 1991. African Bank board chairperson Thabo Dloti said: “Kennedy has a keen sense for managing complex stakeholder issues. He has a proven track record in identifying and nurturing leadership, which promoted strong teams to deliver successful results. His…

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Kenya’s Family Bank partner USAID to disburse US$4.7m to agribusinesses

KENYA – Financial institution Family Bank and the United States Agency for International Development(USAID), have partnered disburse US$4.7 million to agri-businesses in seventeen counties in Kenya in the next one year. The partnership deal between the lender and the United States Agency for International Development (USAID) seeks to unlock US$374 million to Small and Medium Enterprises (SMEs) in Kenya and East Africa. The partnership will see Family Bank finance agri-businesses in the selected 17 Counties in the East Africa nation. Through an initiative dubbed ‘Pay for Results’, the bank targets…

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Kenya’s struggling Spire Bank appoints Fredrick Omondi as the new head of finance

KENYA – Struggling Spire Bank, a subsidiary of the giant Mwalimu National Sacco has picked Fredrick Omondi Nyasaka as its new head of finance and administration. Nyasaka joins the lender from Bank of Africa (BOA) where he headed the bank’s finance and internal audit departments. The new finance chief holds over 18 years of experience in the banking sector having held various roles within audit and finance in KCB, Equity, NCBA and Sidian banks, all in Kenya. The new finance chief will be tasked with firming up the bank’s operations…

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