Published: 21 June 2015

Benefit Washaya has been appointed as the substantive chief executive of listed financial services group NMB Zimbabwe Holdings.

Washaya, whose appointment is effective from April 1, 2015, has been running the group in an acting capacity since November last year when founder and former chief executive James Mushore resigned due to ill-health.

The Wales educated banker commenced his banking career with Barclays Bank in 1978 where he held general management positions including director's assistant, risk management and business centre director.

He left Barclays Bank in 1997 to join NMB Bank where he became Divisional director, risk management and was responsible for setting up the Risk Management systems in the bank.

Washaya moved to Metropolitan Bank of Zimbabwe Limited in March 2004 as chief executive. He then re-joined NMB Bank as managing director in January 2008 during a very difficult period in the history of the bank.

He successfully presided over the change-over period from the Zimbabwean dollar to the multi-currency regime in 2009 when most bank balance sheets started from a near zero base.

In 2010, Washaya was part of the team that successfully raised $10 million through a rights issue which broadened the bank's shareholder profile and again in 2013 he was part of the team that was involved in a private placement which raised close to $15 million and brought on board three strategic institutional investors.

Washaya is a certified member of the Institute of Bankers of South Africa ACIB (SA) and a Chartered Secretary (ACIS).
- dailynews