New Zimbabwe.com

Mthuli Ncube appoints IDBZ and IPEC boards

By Idah Mhetu


FINANCE Minister, Mthuli Ncube Saturday announced the appointment two new boards to run the affairs of the Infrastructure Development Bank of Zimbabwe (IDBZ) and the Insurance and Pensions Commission (IPEC).

Ncube took to twitter to make the announcements.

Renowned business executive and PAC facilitator, Joe Mutizwa has been appointed as the chair of the Infrastructural Development Bank of Zimbabwe board with immediate effect.

Mutizwa will sit with the Central Bank deputy governor Kupukile Mlambo, Insurance Executive and ZimSelector managing director Luke Ngwerume, AfrAsia Bank Zimbabwe Limited former group chairperson Sibusisiwe Bango, Reginald Mugwara, Jeremiah Mutonga, Tadious Muzorora and Nobert Mugwagwa.

Mutizwa will be taking over from Willard Manungo who was the previous IDBZ board was chaired.

“I have the pleasure in announcing the appointment of the new Board members for the Infrastructure Development Bank of Zimbabwe (IDBZ) with Mr Joe Mutizwa as Chairman of the Board. Congratulations to the new board members and looking forward to working with you,” read his twitter.

He also appointed the new Insurance and Pensions Commission (IPEC) with former Zimre Holdings Limited (ZHL) chief executive Albert Nduna as the chairman.

Nduna will sit on the board with an Independent consulting actuary David Mureriwa.

Ncube further re-appointed Annah Mashingaidze, Godwin Nyengedza and Judith Rusike who is Deposit Protection Cooperation board member.

“I have the pleasure in announcing the appointment of new board members for the Insurance and Pensions Commission (IPEC), led by Mr Albert Nduna as Chairman of the Board. Congratulations, and looking forward to working with the new board,” read his Twitter page.

IPEC is the commission governing insurance and pensions in Zimbabwe. It is a non-profit making organisation and stakeholders include insurance and pension funds, members of the public, board and commissioners, management and its staff.

The commission’s role includes registering, regulating and monitoring insurance industry players, monitor and ensure compliance to set standards, providing information to the public, encouraging and promoting investment in the insurance sector.

The previous IPEC board was appointed in November 2015, chaired by ex-AfrAsia chief executive Lynn Mukonoweshuro.

Last year, the board fell out with the then IPEC commissioner, Tendai Karonga leading to his resignation and hence the appointment of Muradzikwa as new commissioner.

Grace Muradzikwa has been appointed as a new IPEC commissioner.

The old IPEC board was appointed in November 2015 and was chaired by ex-AfrAsia chief executive Lynn Mukonoweshuro. Mashingaidze was also on the board and has therefore been re-appointed.

Last year, the board fell out with then IPEC commissioner, Tendai Karonga leading to his resignation and the appointment therefore of Muradzikwa as new commissioner today.