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ZB appoints new CEO



ZB Financial Holdings Limited (ZBFH) has announced Shepherd Tapiwanashe Fungura as its substantive group chief executive officer taking over from Ronald Mutangagayi who resigned in May.

Mutandagayi resigned on May 31 2021 after taking ‘leave of absence’ in March after a video of him assaulting his wife with fists went viral on social media.

Since then, financial director Fanuel Kapanje was acting ceo.

“The board and directors of ZB Financial Holdings Limited is pleased to announce the appointment of Shepherd Tapiwanashe Fungura as the new group chief executive officer of ZB Financial Holdings Limited with effect from 1 August 2021. Shepherd joins the ZBFH group from Raknok Enterprises (Pvt) Limited where he was the chief executive officer since May 2021,” ZBFH said in a statement.

The bank said Fungura has a sterling career in the financial services industry which saw him rise to become the managing director of Old Mutual Insurance Company, a position he held from May 2019 to April 2021.

He had been elevated from the position of general manager and group chief risk officer of Old Mutual Property Limited (Zimbabwe) and Old Mutual Zimbabwe Limited over the period October 2017 to April 2019 and May 2014 to September 2017 respectively.

“Shepherd’s first appointed actuarial manager  at OMIC a position he held from August 2000 to October 2006 after which he left for South Africa and joined Hannover Re as portfolio manager – Sub Sahara Africa, from November 2006 to October 2008. He later became senior actuarial manager at the Road Accident Fund from November 2008 to February 2013 and Reinsurance and Pricing Actuary at Guardrisk over the period from March 2013 to April 2014 before re-joining OMIC,” ZBFH said.

Fungura is an actuary by profession and holds of a BCom (Hons) Actuarial Science from National University of Science and Technology.

He is a fellow of both the Actuarial Society of South Africa (FASSA) and Institute and Faculty of Actuaries in the United Kingdom (FIAUK).

He was the Actuarial Society of Zimbabwe president from January 2015 to March 2018 and served the Insurance Council as a committee member.

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