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Business Reporter

THE Bankers Association of Zimbabwe (BAZ) has elected Standard Chartered Bank of Zimbabwe Limited chief executive officer, Mr Ralph Watungwa, as the new president of the association with effect from May 5, 2020.

Mr Watungwa will be deputised by ZB Holdings group chief executive officer, Mr Ron Mutandagayi, and takes over from Mr Webster Rusere.

In a statement yesterday, Bankers Association of Zimbabwe chief executive officer Mr Sij Biyarm said Mr Rusere will, however, remain active in the affairs of the bankers association.

“At the 27th Annual General Meeting of the Bankers Association of Zimbabwe held on  Tuesday 5th of May 2020, Mr Watungwa and Mr Mutandagayi were elected as president and vice president respectively of the association.

“Mr Rusere, the retiring president of BAZ, will remain active in the affairs of the association as immediate past president,” he said.

Meanwhile, BAZ last month announced plans to mobilise US$10 million through its members as part of corporates’ further contribution to the fight against the deadly Covid-19 global health pandemic.

The health crisis  was declared by World Health Organisation (WHO) as a global emergency, which also saw Zimbabwe decree the pandemic a national health emergency to activate all systems against its fight.

The novel viral disease, first detected in the Chinese city of Wuhan, has killed four and infected 37 people in the country while across the world over four million people have been infected with the death toll rising above 200 000.

The local financial institutions have also agreed on the need to consider provision of foreign currency to cover importation of essential items such as test kits and reagents, with a figure of US$100 000 having been suggested.