Kufazvinei takes over as FBC chief next week

Business Reporter

FBC Holdings Limited (FBCH) has appointed Mr Trynos Kufazvinei chief executive officer (CEO) with effect from January 1, 2024, replacing Dr John Mushayavanhu who steps down to take over as Reserve Bank of Zimbabwe (RBZ) Governor next year.

Mr Kufazvinei is a seasoned banker, having joined FBC Bank Limited in January 1998 as head of finance and administration.

He was later appointed to the board in October 2003, subsequently becoming group finance director in 2004, following the consolidation of the FBC Group.

On June 1, 2011, Mr Kufazvinei was then appointed FBC Group deputy chief executive.

FBC said the new CEO was part of the core team that has been instrumental in the development and execution of corporate strategy over the years and is well-positioned to lead the FBCH team and advance the growth of the brand.

Mr Kufazvinei holds a Master’s Degree in Business Administration from the University of Manchester, United Kingdom, and is a seasoned Chartered Accountant (Zimbabwe) with more than three decades of experience.

He also completed his articles with PriceWaterhouse.

“The board of directors of FBC Holdings Limited is pleased to announce the appointment of Mr Trynos Kufazvinei as the group chief executive of FBC Holdings Limited effective January 1, 2024,” said FBCH in a statement.

Mr Kufazvinei’s predecessor, Dr Mushayavanhu, will step down on December 31, 2023, having been within the ranks of the group since 1997.

He is a career banker with over 30 years of banking experience having worked at Standard Chartered bank in various senior capacities.

Dr Mushayavanhu was appointed deputy CEO of FBC Holdings Limited and managing director in 2004.

“Under the stewardship of Dr Mushayavanhu, he championed the growth of FBCH, leading to a significant market share growth across key business segments and the transformation of FBC into a solid, performing brand.

“The board, management, and staff members thank him for his exceptional leadership over the years and wish him success in his new role,” said FBC.

During his tenure, he was instrumental in growing the institution from a single commercial banking business to a formidable diversified financial services group listed on the Zimbabwe Stock Exchange with business units comprising FBC Bank, FBC Building Society, FBC Insurance, FBC Reinsurance (Zimbabwe) FBC Securities, Microplan, OutRisk and FBC Reinsurance (Botswana).

He holds a Master’s Degree in Business Administration and a PhD in business administration.