ZB Financial Holdings Limited has appointed seasoned business leader, Luxon Zembe as Chairman of ZB Financial Holdings Limited Board with effect from 1 August 2023.
Luxon is a prominent and reputable business leader and economic analyst with over 30 years of corporate governance oversight, foresight, and insight experience across all sectors of the economy, including private, public, and NGO sectors.
He takes over from Pamela Chiromo, who left the job in June of this year.
“The Board, Management and staff of ZB Financial Holdings congratulate Luxon on his appointment as Chairman to the Board and wish him the very best in his new role,” wrote ZB holdings in a notice.
Zembe takes over the reins at ZB Holdings at a time the financial institution is struggling to find solutions to issues affecting its undercapitalized building society unit, ZB Building Society
It is faced with two options either to merge it with its commercial bank or to surrender its licence as ZB seeks to comply with the minimum capital thresholds of US$20 million or Zim dollar equivalent.
ZB Bank is however compliant with the US$30m or the Zimbabwe dollar equivalent minimum capital requirement.
Zembe has previously served as the Reserve Bank of Zimbabwe Board Member, CBZ Holdings Limited Group Chairman, Standard Chartered Bank-Head of Human Capital Development and Change Management across the African region.
He was a key member of the Standard Chartered Bank International Team of Global Change Agents and Leadership Development.
He is the founding Executive Chairman and co-owner of Management Solutions Group of Companies with interests in business and management consultancy, offshore investments advisory services, commercial farming and hospitality and tourism.
Luxon’s working career also includes Group Training and Management Development for Treger Group of Companies, as well as being the Education and Training Officer for De Beers Botswana mining company at Oprapa Diamond Mine in Botswana.
