HARARE – Steward Bank CEO Lance Mambondiani has stepped down, the company announced.
Bernard Chidzero Jnr, the bank’s chairman, said in a letter to staff that Mambondiani’s last day at work was May 31.
Chidzero paid particular tribute to Mambondiani for overseeing the bank’s digital strategy after he took over from Kwanele Ngwenya in 2015.
Steward Bank, a subsidiary of Econet Wireless Zimbabwe, maintains that the UK-trained banker resigned.
It was speculated after Mambondiani’s exit was announced that he had been forced out over unauthorised foreign currency transactions in which he stood to benefit. Strive Masiyiwa, Econet’s founder and majority shareholder, is reported to have ordered his exit
“That’s not true. He resigned and we wish him well. There is no case of foreign exchange misuse that we are aware of,” Econet spokesman Fungai Mandiveyi said.
During his tenure, Steward Bank became one of the most innovative financial institutions in the country, coming up with solutions such as WhatsApp banking, digital account opening and a mobile app.
