BancABC reshuffles executives

Published: 09 July 2014

PAN-African banking group,BancABC, has gone on a restructuring exercise that will see Hashmon Matemera returning to group level after a four-year stint as managing director for the Zimbabwean unit.

Matemera took over the reins in 2010 replacing Zandile Shaba who had resigned to pursue personal interests.

BancABC chief operating officer Francis Dzanya said Matemera will head the newly created Special Operations Unit "which will be managing our non-performing and classified asset portfolio across the group and disposal of non-core banking assets".

In the financial year ended December 31 2013, BancABC saw its loan impairments rise to BWP328 million from BWP138 million in 2012. It said impairments were high with increased non-performing loans. It said significant provisions were made for Tanzania, Zimbabwe and Mozambique.

Dzanya said Matemera had been seconded to the Zimbabwe operation when the country adopted a multi-currency system to manage the transition from the Zimbabwe dollar era and to spearhead the rapid roll-out of BancABC's retail banking model.

Matemera will be succeeded by Joe Sibanda who returns "home" from assignment as head of the Mozambican unit.

Sibanda has been head of the Zimbabwean unit until his posting to BancABC Mozambique in 2008.

Dzanya said Sibanda has completed his tour of duty in Mozambique where the group has, for the first time, appointed a local, Helder Chambise, as managing director. Chambise has been undergoing grooming for the post for over five years.

BancABC Zimbabwe's performance has been rising steadily over the years.

BancABC Zimbabwe's total asset market share rose from 3% in December 2009 to a peak of 10,7% in December 2012. It tapered off to 9% in December last year.

The bank's market share in terms of loans more than doubled to 10% as at December last year from 4,8% in 2009.

Customer deposits leapt to 9,3% last year from 3,9% in December 2009.

The restructuring at BancABC units in Zimbabwe and Mozambique comes as Atlas Mara - a company co-founded by ex-Barclays Plc chief executive officer Bob Diamond - is on the verge of acquiring a controlling shareholding in the pan-African banking group with operations in Zimbabwe, Mozambique, Zambia, Botswana and Tanzania.

But Dzanya said the changes were not caused by the impending Atlas Mara transaction and the group was "making good progress to secure regulatory approvals for the Atlas Mara deal".

He said the group has received "overwhelming support from all the regulatory authorities on all the approvals we have sought and we are confident that all the necessary approvals will be obtained before the transaction closure dates".

- newsday

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