Shaba resigns as Banc ABC managing director

BANC ABC managing director Zandile Shaba has resigned.

She told journalists yesterday that she would step down on June 30 to pursue private business interests.
Shaba said she had decided to pursue her “own interests” and will shuttle between Zimbabwe and Zambia because her family resides there.

Terrence Mudangwe, her deputy, will takeover as the acting managing director.

“In terms of continuity of business, I have been working with Terrence Mudangwe. We both came back to Zimbabwe at the same time. Him from Botswana and me from Zambia. We worked closely together; he has been my deputy, and so, him taking over the post is a good development,” said Shaba. “The bank is standing on a solid foundation and I feel he will take it to greater heights. He understands the business and has lots of experience in banking.”

Shaba was appointed managing director for Banc ABC Zimbabwe in March 2008, taking over from Joe Sibanda who had been re-assigned to Mozambique.

Prior to her appointment, Shaba was head of ABC Zambia. –– Staff Writer

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