HomeBusiness DigestMBCA MD moves to Nedbank

MBCA MD moves to Nedbank

Eric Chiriga

MBCA Bank managing director Denys Denya has been appointed head of Nedbank Africa division. Nedbank is one of the major shareholders in MBCA.

In his new position as managing director, Denya will oversee the operations of Nedbank’s Afric

an subsidiaries in Malawi, Namibia, Lesotho, Swaziland and Zimbabwe. MBCA has not yet announced Denya’s successor.

MBCA marketing and public relations executive Albert Gumbo confirmed the appointment but could not reveal Denya’s successor at MBCA.

“We cannot disclose Denya’s successor nor the effective date of his appointment as Nedbank Africa division managing director,” said Gumbo. Gumbo said Denya’s appointment was more like a transfer within a group as Nedbank is a major shareholder in MBCA. Denya took over as MBCA MD from David Hatendi, who now heads NMB Bank.

Other shareholders in MBCA include NM Rothschild and Sons Limited of UK, Mediobanca-Banca de Credito Finanziaro of Italy and Old Mutual Zimbabwe.

MBCA Bank has since increased its capital adequacy levels to over $2 trillion which is above the  $1 trillion the RBZ requires commercial banks to have met by September.

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