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Dr Blessing Mudavanhu

Business Reporter
ZIMBABWE’s largest financial group, CBZ Holdings, has appointed Dr Blessing Mudavanhu as the group chief executive officer with effect from June 1, 2018.

Following the retirement of Mr Never Nyemudzo on December 31, 2017, CBZ Holdings managing director Mr Peter Zimunya has been the group’s acting chief executive officer.

CBZ Holdings group’s legal corporate secretary Ms Rumbidzayi Jakanani said yesterday that Dr Mudavanhu brings with him vast knowledge and experience in risk management.

“The board of directors of CBZ Holdings Limited is pleased to announce the appointment of Dr Blessing Mudavanhu as the group chief executive officer for CBZ Holdings Limited. His appointment is with effect from June 1, 2018.

“Dr Mudavanhu has over 15 years’ experience in the regional and international financial services markets and he brings with him a wealth of knowledge and experience in risk management,” she said.

Dr Mudavanhu holds a Doctorate in Mathematics from the University of Washington (USA) and a Masters Degree in Financial Engineering from the University of California at Berkeley (USA).

He has worked for the American International Group (AIG) in New York as a senior risk analytics associate as well as the Bank of America Merrill Lynch as director in global risk management encompassing New York City, London, Mexico City and Sao Paulo.

In 2009, Dr Mudavanhu joined African Banking Corporation (BancABC) as group chief risk officer and served as acting group chief executive officer for two years.

He left BancABC in January last year to set up Dura Capital LLC in Johannesburg, South Africa, a risk management and financial engineering firm as well as an enterprise-wide risk management solutions provider.

Dr Mudavanhu joins Zimbabwe’s biggest financial group, which in the full year ended December 31, 2017, posted a 16,8 percent growth in profit after tax to $27,8 million compared to $23.8 million achieved in 2016.