Zinyau appointed DPC chief

The Deposit Protection Corporation of Zimbabwe (DPC) has appointed Hopewell Zinyau as its new chief executive officer, effective at the beginning of this month.

Zinyau, a former corporate services director at Tel-One, takes over from Gift Chirozva, who was the acting chief executive officer.

Chirozva will now revert to his substantive role as business operations director.

“The Board of Directors of the DPC wishes to advise the public of the appointment of Mr Hopewell Zinyau to the position of chief executive officer with effect from the 1st of July 2023. The appointment is in terms of Section 19 of the Corporate Governance Act [Chapter 10:31],” DPC said in a statement.
Zinyau holds a Master of Business Administration, a Bachelor of Arts in English and Communication, both obtained from the University of Zimbabwe and a bachelor of law degree from the University of South Africa.

He is also a certified practitioner in personnel and training management with the Institute of People Management of Zimbabwe.

Established in 2003 under the Deposit Protection Act, DPC provides deposit insurance to eligible depositors in the event of a bank failure.

In line with its mandate, the DPC in June made an upward review of the deposit protection cover by 733,33 percent to $1 million in order to keep pace with market developments.

In 2012 the mandate of DPC was broadened and now it pays compensation to depositors on two fronts which are the deposit protection fund (DPF) up to the maximum insurable limit as well as liquidation dividends on a pro-rata basis depending on debt recoveries and asset realisation.-chronicle