ABC HOLDINGS Limited has announced that pending the obtaining of regulatory approval of the proposed new management team, the board has appointed Blessing Mudavanhu as acting chief executive officer (CEO) and Wallace Siakachoma as acting group chief financial officer (CFO)with effect from January 1 2015.
The group announced major management changes in December 2014 following the completion of Atlas Mara Co-Nvest Ltd (Atlas Mara)’s acquisition of BancABC in August the same year.
Atlas Mara, in consultation with the board of directors of BancABC, identified and proposed a management team led by Ronald Pfende as CEO, supported by Makhosi Boyede and Amelia Reynecke as co-chief operation officers and Christine Bronkhorst as CFO.
However, the appointments require regulatory approval before they take effect. In a statement yesterday, the group announced Mudavanhu and Siakachoma as office-bearers in the interim.
Mudavanhu has been with ABC Holdings for nearly six years, serving as group chief risk officer since joining the group in 2009. He worked for many years in financial services as director in global risk management at Bank of America Merrill Lynch, New York before joining ABC holdings.
“He has been a member of the ABC Holdings executive committee for several years, leading or participating in discussions and decisions related to all aspects of the group’s operations,” read part of the statement.
Siakachoma has been with ABC Holdings for 12 years serving for the past six years as group finance executive where he provided leadership in all matters relating to the group’s financial reporting, planning and controls.
Before joining the head office management team, he was the head of finance for BancABC Mozambique.
Prior to joining ABC Holdings in 2002, he worked for five years at PricewaterhouseCoopers in Zambia and Kenya.
“He has worked closely with the finance teams in each of ABC Holdings’ countries of operation and is well-versed in all facets of the responsibilities of the group’s chief financial officer,” the statement reads.