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.
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
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
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
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.
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.