EcoCash Holdings Zimbabwe Limited (EHZL) has announced the appointment of new directors following the resignation of several key individuals within the organization. This significant leadership transition comes as part of the company’s efforts to navigate the evolving landscape of the financial services sector.
Eddie Chibi, who has held the position of CEO since 2018, has stepped down from his role. Tawanda Nyambirai has been appointed as his successor. Nyambirai is a long-time associate of Strive Masiyiwa, dating back to the early days of Econet in the 1990s. He brings a wealth of experience to the position, having served the company in various capacities as both a lawyer and a business leader. Notably, Nyambirai acquired Steward Bank, a subsidiary of EcoCash, in 2013, further solidifying his credentials within the financial sector.
In addition to Chibi’s departure, Darlington Mandivenga, a pivotal figure in the establishment and rapid growth of EcoCash, has also resigned. Mandivenga was instrumental in transforming EcoCash into a leading player in the local payments industry, and his exit marks a significant change for the organization.
In total, eight directors have resigned from their positions, including the chairperson. The company has appointed ten new directors to take their place. In a notice to shareholders dated February 14, 2025, and signed by Group Company Secretary C.R. Daniels, EcoCash confirmed that Sherree Gladys Shereni has stepped down as Board Chairperson. The following directors have resigned:
- Sherree Gladys Shereni (Chairperson, Independent Non-Executive Director)
- Zienzile Dillon (Independent Non-Executive Director)
- Hardy Pemhiwa (Non-Executive Director)
- Darlington T. Mandivenga (Non-Executive Director)
- Michael L. Bennett (Independent Non-Executive Director)
- Christopher Maswi (Independent Non-Executive Director)
- Eddie Chibi (Executive Director)
- Theresa Nyemba (Executive Director)
EcoCash expressed gratitude to Mrs. Shereni for her contributions and dedication to the bank during her tenure as Board Chairperson. The board also acknowledged the service of the departing directors.
Mr. Dominic Musengi and Ms. Elizabeth T. Masiyiwa will continue to serve as directors on the EHZL Board.
Effective January 27, the following individuals have been appointed as new directors of EcoCash Holdings Zimbabwe Limited (EHZL):
- Titus Murefu (Chairperson, Independent Non-Executive Director)
- Rugare Chidembo (Non-Executive Director)
- Roy Chimanikire (Non-Executive Director)
- Nadine Gabi Levy (Independent Non-Executive Director)
- Evaristo Mudhikwa (Independent Non-Executive Director)
- Morgen Mufowo (Independent Non-Executive Director)
- James Andrew Kufakunesu Mushore (Independent Non-Executive Director)
- David Alexander Rhodes (Independent Non-Executive Director)
- Tawanda Nyambirai (Group Chief Executive Officer, Executive Director)
- Hazvinei Kapfunde (Banking Operations Director, Executive Director)
These changes reflect EcoCash’s commitment to strengthening its leadership team and positioning itself for future growth in the competitive financial services landscape.
