And the Bank of Zambia has said it is convinced Dr Mwanza would continue to contribute to the growth of the financial sector and help consolidate the progress that Finance Bank had made so far.
The Finance Bank board has also resolved to reduce the Finsbury Investment shares in Finance Bank from 25 per cent to 10 per cent.
Finance Bank executive director- corporate banking and marketing Noel Nkoma confirmed this in a statement in Lusaka yesterday.
Mr Nkoma said the board made the proposal for Dr Mwanza, who is University of Zambia chancellor to succeed Dr Mahtani, at its extra-ordinary board meeting on Saturday.
Dr Mahtani tendered his resignation to the bank’s board on Saturday which the board accepted during the subsequent extra-ordinary board meeting held on the same day.
Commenting on the changes, BoZ head of public relations Kanguya Mayondi said the Central Bank had taken note of the stepping down of Dr Mahtani and welcomed the proposed appointment of Dr Mwanza.
“Dr Mwanza has served the private and public sectors in Zambia in various capacities. in the financial sector. Dr Mwanza is the immediate past governor of the Bank of Zambia, having served from 1995 to 2002,” he said.
He said the BoZ was optimistic that Dr Mwanza would be able to steer the bank to greater heights and build on what had been done in terms of the expansion programme.
[Times of Zambia]
Good for ba mwanza.Hope it will come to pass:-?
Am waiting for people to say he only got this job because he is from Eastern province.
#2 and you are the only one saying it.
Why do we always recycle failure? This man has never achieved anything. He messed up UNZA and was an under performer at BOZ.
ichi bumba chi bumba…. mahtani wont go down easily. he will come back! these are the financial tycoons that hold zambia together… whether we like it or not- without mahtani’s businesses zambia will slump for a while… it will affect our economy. handle him with care… this is the katumbi of zambia. just like congo cant go without Katumbi.
The ****er must be licking his wounds,he thought ftj had disappeared on the horizon,tj is tj.he will screw you up this time till you escape to kolkata or to be polite goa where the envirolment is at least sensible.
This chap has left a trail of failures everywhere and one wonders why he has been appointed to this post. You bet Banda’s hand is behind the scenes and its all Khumawa business here, tukulya vyethu seo!
Ba Chinondo Ikalenifye ngatamukwete ifyakucita !!!! Jacob Mwanza, Caleb Fundanga, & Gideon Gono ( Current Zimbabwe Reserve Bank Governor) are amoung the best central bank governors Africa has produced!!!
Finance could have appointed some one younger. Why is it all about old men, from the presidency to banks to …awe mwandi!
#3 I think the comment from #7 vindicates me!!!
# 7 You really must have something against easterners…but I forgive you. You are the same chaps who claim others are tribalist not realising it’s you who is the tribalist. # 4 The UNZA chancellor does not run the Uni. It’s a ceremonial position.
#7
Iam not shocked by the comment from #7.A disgruntle Lozi tribalist always singin praise songs for his tribesmen Milupi and Masheke and always against even well performing easterners.
What is Finsbury Investment? Is it Mahtani’s investment company, implying Mahtani will now only hold 10% share of Finanace Bank.
Someone educate me, please.
Yes, his shares in the bank were held through that shelf company, so they have diluted
his shares, less external control from him
Not this buffoon – he sat and did nothing whilst Chiluba and his market vendor government plundered the country – an overpaid fat cat!
Selective prosecutions again. You still have the same mentalitiy of “Nga wa pata UNIPI waisalil’eshibi”. That is why you can still have William Banda as Provincial Chairman in the Mad Mad Den (MMD). Imwe ba kambwanga you never learn!!!!!! Nanga uja Minister ana baunsinsa cheque, mukazi, why is she not being prosecuted but you pursued Mpombo like mad. Shameful.