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  New Board Directors at AfrAsia Kingdom Zimbabwe Limited  

The Board of Directors of AfrAsia Kingdom Zimbabwe Limited (AKZL) is pleased to announce the addition of James Benoit, Kamben Padayachy, Jill Rickard and Brian Fredrick to its Board  as non-executive members and Sevious Mushosho as the Group Financial Director. With a vision to expand in Africa and the emerging markets, the Group restructured its board to embrace diversity in order to realize the aspiration of targeting emerging markets with a global outlook. They have all begun their tenure and they bring to the board many years of experience in the financial services sector at a global level.

As communicated in January 2012, AfrAsia Bank acquired 35% in Kingdom Financial Holdings Limited and rebranded to AfrAsia Kingdom Zimbabwe Limited, to reflect the co-existence of the AfrAsia and Kingdom brand into the future.

"We are very pleased that they accepted our offer to become board members. They all have the right mix of experience and they will add significant value to the company based on their immense international experience, knowledge of business and past experience in successful global companies." said Sibusisiwe Precious Bango, Chairperson of Kingdom Financial Holdings Limited.

Among the Board Directors features Brian Fredrick who has spent most of his career in the financial services industry in Asia and the Middle East and worked in the United Arab Emirates. With his specialties revolving around Financial Risk, Risk Management, Banking and Emerging Markets, Brian was with the HSBC Group for over 35 year, working for HSBC in Hong Kong as  Asia-Pacific Head of International between 2003 and 2007 and acted as CEO of HSBC's operations in Mauritius, the Philippines and Indonesia for over ten years.

“AKZL is definitely a core part of our regional expansion drive and growth potential of the country’s banking sector. Being part of the Board Directors is a huge opportunity for me to contribute to bringing this broad regional and international perspective, strong financial acumen and a keen focus on long-term performance. We will work together with AKZL and bring a unique experience in developing further our business models, building a global brand and drive sustained growth,” says James Benoit, Board Director of AKZL and AfrAsia Bank CEO.

“As Board Director of AKZL, I look forward to bringing new insight and outlooks relating to this partnership and work together to keep expanding our franchise in the SADC region through an established local operation and with highly credible local partners. We look forward to working closely with the entire board and management team of AKZL as we pursue the exciting opportunities in front of us,” says Kamben Padayachy, Board Director of AKZL and Deputy CEO of AfrAsia Bank.

Ms Bango also highlighted that the five new members join a board that oversees the Group and adheres to sound corporate governance practices in discharging its duties. “For effectiveness, the AKZL board is distinct from subsidiaries’ boards and has clear-cut delegation of responsibilities to specially constituted board committees. The Group continues to devote maximum attention to the management of compliance risk by ensuring that the business adheres to legal and regulatory requirements,” she said.

Going forward, AfrAsia Bank aims at enhancing the future of AKZL Group, and also further strengthens its capability to fund new business growth initiatives. Through their leadership, commitment and individual expertise, the newly appointed directors will guide the Group to further develop its strategic plans and facilitate regional expansion. There is evidence that the Zimbabwean economy is poised for growth and our strategy remains to be a leading diversified financial services group in the region by working together with AKZL to implement growth strategies for the AfrAsia Bank Group.



James Benoit was previously a global management executive with HSBC Group for 16 years in emerging and developing markets in China, Philippines, Hong Kong, the Middle East, Canada and Mauritius. He has developed, implemented and grown leading consumer banking, wealth management, credit card and corporate banking businesses in these regions with proven ability to engage customers, regulators and staff from diverse backgrounds. James is also a Chartered Financial Analyst.

Kamben Padayachy (Ben) is one of the Founding Executives of AfrAsia Bank since its early inception in May 2007. He has 18 years’ experience in Banking, having successively worked with BNP Paribas (BNPI), Barclays Bank and Standard Bank. He has held senior management roles at both retail and corporate levels throughout his career and has originated investment Banking transactions from debt capital markets to structured trade finance. He holds a Masters degree in Monetary Economics from University of Paris Dauphine and a post-graduate degree in Banking and Finance. Ben is also a Director on the Board of Axys Capital Management, AfrAsia Special Opportunities Fund, ACF (Africa) Limited and AfrAsia Kingdom (Zimbabwe) Limited.

Jill Penelope Rickard is a qualified Chartered Accountant and a member of the Institute of Chartered Accountants of Zimbabwe.  A holder of a Bachelor of Accounting Science - B. Compt. (UNISA), she has worked for Pulbrook, Wright & Underwood (now Ernst & Young) for more than 32 years. She was also the partner responsible for Human Resources in the Mutare Office and on the HR Committee for Ernst & Young Zimbabwe with responsibilities that included the training and mentoring of Student Accountants.  Since her retirement in 2007, she has been operating as an independent consultant providing financial, taxation and advisory services for a wide range of clientele in Zimbabwe and regionally. AKZL is poised to immensely benefit from her exposure to the accounting fraternity.

Brian Fredrick holds a Bachelor (Hons) of Politics and Government from University of Kent. He has spent most of his career in the financial services industry in Asia and the Middle East and worked in the United Arab Emirates in the 1980s and 1990s. He has also worked for HSBC in Hong Kong, where he was HSBC Asia-Pacific Head of International between 2003 and 2007 and in Brunei, and Vietnam. He was the Chief Executive Officer of HSBC's operations in Mauritius, the Philippines and Indonesia for over ten years. He has served on the boards of a number of companies including A. Soriano Corporation and Concrete Aggregates Inc, both quoted on the Philippine Stock Exchange, Technological and Commercial Joint Stock Bank (Techcombank), one of the largest private sector banks in Vietnam, Lamprell PLC and was Chairman of HSBC Bank (Mauritius) Limited.


Sevious Mushosho is the Group Financial Director of AKZL. He is a Chartered Accountant by profession with over ten years of experience and is currently studying MBA in Leadership and Sustainability with Robert Kennedy College Switzerland in conjunction with University of Cumbria UK. He has been in financial services for the past 4 years as a finance executive. He also has experience in manufacturing, FMCG, insurance and retail. Before joining AKZL, Sevious was with Tetrad Group. He has worked for Innscor Africa as a Group Finance Executive and for Fidelity Life Assurance as a Group Finance Manager. Sevious did his articles with BDO Zimbabwe Chartered Accountancy and is an active member of the Institute of Chartered Accountants of Zimbabwe.

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