BancABC CEO to step down
Banker, Mr Lance Mambondiani is to step down from his post as Managing Director
BancABC amid reports that the bank is on the verge of disposal to new shareholders.
BancABC shareholder, Atlas Mara has so far disposed of their banking assets in
Mozambique, Botswana, Rwanda and Zambia which coincidentally led to the departure of
all their sitting CEOs at the time of disposal.
It is reported that some international investors have been circling around the
Zimbabwean bank for some time now and are believed to be close to concluding a deal
leading resulting in a mass exodus of executives at the bank including the former Mr
Head of IT Twaibu Seremani, Head of Retail, Hope Marere and the Acting CFO Kudzai
Muchada among others.
A source within the board indicated that Mambondiani is expected to leave the
institution inthe next three months once a replacement has been identified and
rubbished claims of a fallout with the board. Efforts to reach Mambondiani for comment
were unsuccessful.
Efforts to reach out Mambondiani were fruitless as he was not picking up his calls.-The Herald
