Steward Bank boss resigns

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By Staff Reporter

TOP local banker and Steward Bank chief executive officer Lance Mambondiani has resigned, NewZimbabwe has learnt.

Highly placed sources said Mambondiani tendered his resignation early Friday to pursue other interests and was expected to make a comprehensive statement mid-morning Saturday.
Reasons for the shock move were not immediately clear.
Mambondiani is credited with turning Steward Bank from a loss making institution, into one of the country’s top three banks in under five years. The tech-savvy banker has won the admiration of a lot of people in the country with groundbreaking and unorthodox innovations such as Kwenga, KaShagi and Sosholoza, a Whatsapp banking feature released into the market in March.
Mambondiani has won several awards both locally and internationally. He is recognised as one of the country’s rising young leaders and businessman.
According to the Steward Bank website Mambondiani has a combination of skills in investment banking, economics, trade finance, corporate finance, law and development finance. He has spent the last ten years working and studying banking models worldwide with banking roles and secondments at international banks.
The respected banker who lived and worked in the U.K. for several years attained his PhD from the University of Manchester in 2011. He has done consultancy work for governments; inter-governmental, non-governmental organisations and the private sector on macroeconomic policy, financial sector management, bank strategies, debt sustainability, public finance management and other development finance and economics assignments across Southern Africa.
Efforts to get a comment from Mambondiani or Steward Bank officials late Friday were fruitless.