First Capital Bank Zimbabwe appoints Tapera Mushoriwa as new MD

PHILLIMON MHLANGA

 

Financial services provider, First Capital Bank  Zimbabwe, has appointed transformative banker, Tapera Mushoriwa , as  its new managing director, Business Times can reveal.

He replaces  Ciaran McSharry.

Multiple sources at First Capital Bank Zimbabwe confirmed the latest development to Business Times on Monday.

They said an official announcement will be made soon.

“The MD (Ciaran McSharry) is leaving He is being replaced by transformative banker, Tapera Mushoriwa,” one well-placed source told Business Times.

Efforts to get  an official comment from First Capital Bank Zimbabwe were futile.

No comment could also be obtained from McSharry.

The move  to appoint Mushoriwa, a seasoned business excutive and banker, has been viewed as a bold strategy statement by the First Merchant Bank-owned financial institution.

They said he brings strategic thinking to First Capital Bank Zimbabwe.

First Capital Bank Zimbabwe was established after the successful acquisition of Barclays Bank of Zimbabwe Limited by Mauritius-based First Merchant Bank  Group,its parent company.

FMB Group also has banking operations in Malawi, Mozambique, Zambia, and Botswana.

Since the acquisition, First Capital Bank Zimbabwe has been trying to changeover from the London-controlled Barclays business model to a SADC regional bank.

The institution has remained resilient, achieving major milestones along the way, including securing foreign lines of credit and a listing on the Victoria Falls Stock Exchange.

However, there has been limited innovation and an ambiguity on its market positioning.

Prior to this appointment, Mushoriwa,  served as the National Business Society (NBS) MD . He transformed it from a dormant volcano to a very vibrant brand. He is now expected to  be  a game changer for FCB.

Today, NBS is seen as more than a housing provision institution but a total financial institution that gives other top banks a good run for their money.

Within nine months, under Mushoriwa’s leadership, NBS successfully delivered two housing projects after a four-year haitus and has also launched corporate banking, among other innovations.

Before this role, Tapera also worked for Cassava Fintech International, Steward Bank, and Standard Chartered in various senior leadership positions, driving transformation strategies and innovation.

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