Timothy
Business Writer
FINANCIAL services provider, ZB Financial Holdings, has appointed Emmah Mungoni as the new Group Finance Director effective 1 January 2022, taking over from Fanuel Kapanje.
Kapanje resigned effective 31st of December last year.
Mungoni, was the head corporate banking for ZB Bank Limited with functional responsibility for key customer relationships and improving the assets and liabilities of the bank whilst supervising Treasury and International Banking functions.
According to a statement by ZB Holdings, she joined the group in June 2010 as the finance director at ZB Building Society and then managing director, a position she held until May 2018 when she was appointed head corporate banking for ZB Bank.
“Emmah has had an exceptional, progressive career of over 20 years that started in January 1997 to 2002 at Ernst and Young Chartered Accountants where she served her articles and rose to the position of an Audit supervisor.
“She then went on to serve as group finance executive at Apex Corporation in March 2002, moved onto AON Zimbabwe (now Minerva Risk Advisory) as chief finance officer until 2009. From there she joined ZB in 2010 until her current position as Head Corporate Banking,” the group said.
Mungoni is a Chartered Accountant, a registered member of the Public Accountants and Auditors Board.
The group, in a trading update ended 30 September 2021, said that despite an 86 percent reduction in Foreign exchange income, total income for the quarter at $5,9 billion increased slightly by one percent compared to $5,8 billion in the previous comparable period.
Net interest and trading income increased by 313 percent in the third quarter 2021 compared to Q3FY2020 on the back of an 89 percent increase in the loan book and trading assets.
Gross insurance premiums increased by 22 percent with the related insurance expenses reducing by 16 percent. The net insurance income increased overall by 37 percent reflecting the combined effect of increased business and further improvement in risk selection.
Banking commissions increased by 130 percent against the background of a 16 percent increase in the number of accounts and higher levels of utilization of electronic banking channels.
Bongani Ndlovu