Eddie Chibi Resigns, Tawanda Nyambirai takes over as EcoCash CEO

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EcoCash Holdings Zimbabwe Limited (EHZL) has appointed new directors following the resignation of several others.

Eddie Chibi, who has served as CEO since 2018, has stepped down from his position, with Tawanda Nyambirai appointed as his successor.

Nyambirai, a longtime associate of Strive Masiyiwa dating back to the early days of Econet in the 1990s, has extensive experience with the company, both as a lawyer and in business. Nyambirai acquired Steward Bank, a subsidiary of EcoCash, in 2013.

Darlington Mandivenga, a key figure in the establishment and rapid growth of EcoCash, has also resigned.

Mandivenga played a key role in turning EcoCash into a dominant player in the local payments industry.

In total, 8 directors have resigned, including the chairperson, while 10 new directors have been appointed.

In a notice to shareholders dated 14 February 2025 and signed by Group Company Secretary C.R. Daniels, EcoCash announced that Sherree Gladys Shereni has stepped down as Board Chairperson. The following people have resigned as Directors:

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 added:

The Shareholders, Directors, Management and Staff are grateful for Mrs. Shereni’s contribution and dedication to the Bank during her tenure as Board Chairman.

The Board also acknowledges the service of the departing Directors.

Mr Dominic Musengi and Ms. Elizabeth T Masiyiwa remain as Directors of the EHZL Board.

The following individuals have been appointed as Directors of EcoCash Holdings Zimbabwe Limited (EHZL), effective from 27 January:

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)