Governance - Success Microbank

Hester Musandu [Non-Executive Director]

Hester is a holder of a Postgraduate Professional Training, International Programme for Development Evaluation Training from Carlton University in Canada, Postgraduate Certificate in Epidemiology and Field Research Methodologies from Umea University in Sweden, Masters in Business Administration from Nottingham Trent University in the United Kingdom, Bachelor of Technology Applied Biology and Biochemistry from the University of Zimbabwe (“UZ”) and a Certificate of Proficiency in Public Relations, Selling and Sales Management from London Chamber of Commerce and Industry (“LCCI”). Hester has over 36 years of post-qualification working experience in agriculture and microfinance, FMCG, Pharmaceuticals, Health and Sales sectors.

Primrose Nyakuwanikwa [Non-Executive Director]

Primrose is a holder of a Master in Business Administration from the Women’s University in Africa (“WUA”), Executive Certificate in Diplomatic Events Management and Administration from the University of Zimbabwe (“UZ”), Post Graduate Diploma in Customer Relationship from the Chartered Institute of Customer Relationship Management Africa (“CIRCMA”) and an Honors in Theatre Arts from the “UZ”. Primrose has over 14 years post qualification working experience in marketing, financial services, insurance and mining sectors.

Hassan Chitute [Acting ICT Manager]

Hassan is a holder of a Bachelor of Business Studies and Computing Science Honours Degree from the University of Zimbabwe (“UZ”). Hassan has over 6 years of work experience in ICT most of which have been in the Banking sector.

Bernard Wekare [Chief Executive Director]

Bernard is a holder of Master of Business Administration (“MBA”) and Bachelor of Business Studies (Honours) degrees from the University of Zimbabwe. He has had an outstanding career in banking at all corporate levels. An accomplished Investment Banker, with extensive experience in, corporate finance credit and investment advisory and portfolio management. Bernard successfully advised on many corporate finance transactions for local and international listed and private companies in various industries, participated and led the implementation of transformational programs for several local financial institutions. Founding director of Success Microfinance Bank Ltd (“SuccessBank”).

Chriswell Vava [Chairman of Board]

Chriswell holds a Master of Science degree in Information Systems Management from University of Liverpool (UK) and a double Bachelor of Science (Honours) degree in Computer Engineering from University of Amsterdam (Netherlands) and University of Sunderland (UK). He has over 15 years of experience in IT Security Management, Computer Information Systems, Systems Engineering and Forensic Auditing. He has been instrumental in building IT infrastructures of various blue-chip companies and institutions including IBM, African Capacity Building Foundation (ACBF) and World Bank.

Jacqueline Njiva [Manager- International Banking]

Jacqueline is a holder of a Bachelor of Business Studies in Management from the Africa University (“AU”), Executive Certificate in International Trade and Finance from the University of Zimbabwe (“UZ”), and Diploma in Banking from the Institute of Bankers in Zimbabwe (“IOBZ”). She has over 16 years working experience in International Banking in various capacities.

Bernard Wekare Chief Executive Officer

Bernard is a holder of Master of Business Administration (“MBA”) and Bachelor of Business Studies (Honours) degrees from the University of Zimbabwe. He has had an outstanding career in banking at all corporate levels. An accomplished Investment Banker, with extensive experience in, corporate finance credit and investment advisory and portfolio management. Bernard successfully advised on many corporate finance transactions for local and international listed and private companies in various industries, participated and led the implementation of transformational programs for several local financial institutions. Founding director of Success Microfinance Bank Ltd (“SuccessBank”).

Oswell Mapeni Matore [Non-Executive Director]

Oswell is a Chartered Accountant and a member of the Institute of Chartered Accountants (Zimbabwe). He has extensive experience in auditing, accounting and financial management through his many years of practice with several high profile institutions. Oswell has worked as Group Finance Director for Zimpapers and as Finance Director for Air Zimbabwe. He is a Non-Executive Director of Metbank Limited and several other companies.

Selisi Chavinda [Branch Manager- Bulawayo]

Selisi is a holder of Master of Business Administration degree (“MBA”) from the National University of Science and Technology (“NUST”), Post Graduate Diploma in Management from NUST, Management Development Program diploma from NUST, Certificate of Proficiency in Systemic Counselling from Lupane State University (“LSU”), Certificate from the Institute of Marketing Management, Certificate from the Institute of Credit Management, a Certificate on Market Research, and Certificate in Customer Relationship Management from Bulawayo Polytechnic. She has 33 years experience in Banking.

Bethel Zirebwa [Finance Manager]

Bethel holds a Bachelors in Accountancy (Honors) degree from the University of Zimbabwe (“UZ”), member of the Institute of Chartered Accountants of Zimbabwe (“ICAZ”), and licensed by the Public Accountants & Auditors Board (“PAAB”). He has over 5 years of working experience most of which have been in audit.

Martha Chaparadza [Branch Manager- Karigamombe]

Martha is a holder of a Bachelor of Accounting Science from the University of South Africa (“UNISA”) and is currently studying towards a Master of Business Administration (“MBA”) with the University of Zimbabwe (“UZ”). Martha has over 20 years of experience in retail and credit management.

Takudzwa Musemwa [Risk and Compliance Manager]

Takudzwa is a holder of a Bachelor of Commerce Honours degree in Risk Management and Insurance, studying towards a Master of Science in Risk Management with the University of Lusaka and the Chartered Institute of Management Accountancy (“CIMA”). He has over 5 years in risk and compliance in the financial sector.

Resca Sande [Branch Networks & Operations Manager]

Resca is a holder of a Certificate in Business Accounting from the Chartered Institute of Management Accountants (“CIMA”) and currently studying towards a Bachelor of Commerce Accounting Honours degree with Midlands State University (“MSU”). She has over 20 years of work experience in Banking.

Bridgette Sibanda [Human Resources Manager]

Bridgette is a holder of a Master of Science in Human Resource Management degree from the Midlands State University (“MSU”), Bachelor of Science Psychology Honours degree from MSU and a Diploma in Human Resource Management from the Institute of People Management of Zimbabwe (“IPMZ”). She has over 8 years’ experience in the human resources field in different sectors like manufacturing, FMCG and the financial sector.

Thomas Nyabonda [Internal Audit Manager]

Thomas is a holder of a Bachelor of Commerce Honours degree in Accounting from the University of Zimbabwe (“UZ”), Bachelor of Science Management Information Systems degree from Midlands State University (“MSU”), a Certified Risk Management Professional (CRM Prof), and Certified Data Analyst from the Risk Management Institute of South Africa. He has over 15 years working experience in both internal audit and external audit.

Prosper Hove [Acting Credit Manager]

Prosper is a holder of a Bachelor of Commerce Marketing Management Honours degree from Midlands State University (“MSU”). He has over 13 years of work experience in Banking.

Kudakwashe Marime [Financial Accountant]

Kudakwashe is a holder of a Bachelor of Commerce Special Honours degree in Accounting, He is currently studying towards the Chartered Institute of Management Accountancy (“CIMA”), and member of the Chartered Governance and Accounting Institute. He has over 9 years of work experience in accounting, most of which in the microfinance subsector.

Tapiwa L.C. Chisango [Non-Executive Director]

Tapiwa is a holder of a Post Graduate Diploma in Accounting Sciences from the University of South Africa (“UNISA”), Post Graduate Diploma in Applied Accounting Sciences from “UNISA”, and a holder of a Bachelor of Accounting Science Degree from “UNISA”. Tapiwa is a member of the Institute of Chartered Accountants of Zimbabwe (“ICAZ”), also a holder of a practicing license issued by the Public Accountants & Auditors Board (“PAAB”). He has over 7 years post qualification working experience in risk management, assurance and advisory in the financial services, mining, retail and manufacturing sectors.

Nigel Mutumha [Acting Treasurer]

Nigel is a holder of a Bachelor of Commerce Honours degree in Finance from the National University of Science and Technology (“NUST”), Diploma in Banking from the Institute of Bankers of Zimbabwe (“IOBZ”) and currently studying towards a Master of Business Administration (“MBA”) with the University of Zimbabwe (“UZ”). He has over 6 years of experience in the Banking sector, most of which in Treasury.

Tinashe Nyahwema [Head of Credit]

Tinashe has wide-ranging experience in the areas of credit management, SME Lending and business development. He holds a Bachelor of Business Studies Degree in Finance and Banking and an Executive Certificate in Credit Management from the University of Zimbabwe. He is currently a final year student studying towards Masters of Business Administration with the University of Zimbabwe. Before joining Success Microfinance Bank, Tinashe worked for notable Microfinance Institutions.

Ringisai Runyowa [Head of Treasury]

Ringisai is an investment professional with more than 5 years’ experience in the financial services sector covering business development, deal origination and structuring, foreign currency trading, derivatives, fixed income trading and money markets. He holds a Master of Business Administration [MBA] Degree and a Bachelor of Commerce Honours Degree in Fiscal Studies both from NUST. Currently working on IoBZ final stage, ACI Dealing Certificate (ACFMA) and the CFA program.

Tambudzai Mandisodza [Chief Finance Officer]

Tambu holds a Bachelor of Accounting Degree from the University of Zimbabwe and is a member of the Association of Chartered Accountants (ACCA). She has extensive experience in auditing, accounting, investments, corporate finance and financial management.

Artwell Mukwazhe [Head of IT]

Artwell is an Information and Technology professional with more than 8 years’ experience in the financial services sector specialising in network design and setup, IT infrastructure setup and support, Core Banking Systems support and general Bank ICT infrastructure security. He holds a Bachelor of Science Degree in Computer Science from Bindura University and a Certified Information Systems Auditor certificate. He joined Success Microbank in 2016 and has prior experience working with different financial institutions.

Shepherd Nashe [Head Retail and Banking Operations]

Shepherd is a seasoned banker with hands on expertise in Retail banking consumer banking and business banking, Banking Operations, Products Management and Microfinance banking. He has worked in many financial institutions at senior management level where he had the opportunity of starting up three Commercial banks and one Microfinance bank. Shepherd holds a Bachelor of Commerce Degree in Banking from UNISA, Chartered Institute of Secretaries Diploma (CIS), Institute of Bankers Diploma Zimbabwe (IOBZ). He is currently writing his dissertation for an MBA with Zimbabwe Open University and studying for a Master of Science Degree in Banking and Financial Economics, second semester, with NUST

Siphiwo Molai [Head of Internal Audit]

Siphiwo is an Audit & Assurance professional with eleven (11) years post qualification experience in both Public and Private Enterprises providing comprehensive high quality audit and assurance services to businesses encompassing Financial services, Pharmaceutical and Real Estate. A competent reviewer and assurance provider who holds a Master of Business Administration from the University of Gloucestershire (UK), a BBA Accounting Degree from Solusi University (Zim) and is a Certified Chartered Accountant (ACCA-UK).

Lynott Machanzi [Non-Executive Director]

Lynott is a Chartered Accountant with 4 years auditing experience and 10 years’ commercial experience at management level. Lynott holds Bachelor of Accounting Science degree, Zimbabwe Certificate Theory in Accounting and Bachelor of Accountancy Honors degree. He is also a member of the Institute of Chartered Secretaries and Administrators (ICSA).

Happymore Mapara [Non- Executive Director]

Happymore is a Fellow of the Chartered Institute of Secretaries and Administrators and a professional member of Alumni-London Business School (Executive Management Programme). He is a member of Private Sector Advisory Panel Committee (“PASP”) of the International Cotton Advisory Committee (“ICAC”) and is an Executive Director of Cosmos Capital Limited and several other companies.

Tsitsi Nyati [Non-Executive Director]

A career advertiser with over 20 years’ experience working on global and local brands such as Standard Chartered, Barclays, Reckitt Benckiser, Seedco, National Foods, Bakers Inns and Nestle. Mrs Nyati brings a wealth of experience in the development of brands and marketing strategies. Since 2015 she was at the helm of Primedia Outdoor Zimbabwe, with particular focuson growing the brand footprint and sales in country.Mrs Nyati holds a Bachelors of Technology in Management from the University of Zimbabwe. She is further a co-founder and non – Executive Director of VOST Brand Activations who have partnered with Unilever to carry out their CSR program for the renovations of public and community toilets with local governments in Zimbabwe and Zambia.

Ruth Makombe [Managing Director]

Ruth is a proficient strategist, customer centric ,dynamic , self-motivated and result oriented leader with over 35 years banking experience . Her work experience spans across global and local banking and Fintech institutions such as Standard Chartered, Trust Bank, Zimbabwe Allied Banking Group (ZABG), Premier Bank (Now Ecobank), Lafferty Retail Banking Academy – UK, Lafferty LAMEC Division – UK, BancABC Zimbabwe, BancABC Tanzania and FN Software Solutions (Ndasenda). She also served as a Non- Executive Director and Project Leader during the setting up of Zimbabwe Women’s Microfinance Bank. Currently the Vice Board Chair for the Institute of Project Management Zimbabwe(PMZ), Ruth also sits on the Board of FN Software Solutions. A banker by profession and a Trainer by passion, Ruth’s profession qualifications include a Diploma is Business Leadership (ZIM), Master in Business Administration (MBA) (Nottingham Trent University UK), Certificate in Strategic Security Planning Certificate in Strategic Risk Management (BR Institute of Security Management – Zim), Certified International Retail Banker (CIRB),Management Leadership Development Diploma (MLDP) (GIBS- University of Pretoria).

Denford Jera [Head of Risk & Compliance]

Denford holds a Masters in Financial Engineering from WorldQuant University, USA. He also holds a Bachelor of Science Degree in Mathematics and Statistics from the University of Zimbabwe and an Executive Diploma in Credit Management from National University of Science and Technology (NUST) in partnership with CCL Business School. Denford is a banker and risk management practitioner with many years’ experience at supervisory and senior management level. He has vast knowledge and experience in the field of risk management (market risk, credit risk, interest rate risk, foreign exchange risk, and operational risk), compliance, and corporate governance and bank operations acquired in the past 8 years. He has also been actively involved in the development of Basel II and IFRS9 models and implementation of associated systems. Denford previously worked at ZB Bank before joining Success Microfinance Bank.

Commodity Broking Structures

Access structured trade financial instruments customized especially for you.

Investment Advisory Services

If you are in need of short-term financing due to a lack of liquidity, instead of going into a long-term financing arrangement with interest. Sell your securities and we as your financial partner for growth will provide you with an efficient source of short-term funding.

Repurchase Agreements (REPO)

If you are in need of short-term financing due to a lack of liquidity, instead of going into a long-term financing arrangement with interest. Sell your securities and we as your financial partner for growth will provide you with an efficient source of short-term funding.

Options

A financial contract that gives our customers the right but not the obligation to either buy or sell an asset at the pre-determined price by a specified date. If you are having trouble to create your options contract we are there for you, with our assistance create and secure your options contract today.

Negotiable Certificate of Deposits (NCDs)

Issued by Success to individuals and institutional investors. our investors receive promissory notes with a fixed interest rate throughout the investment period. The interest rates are higher than those of your typical saving account providing the you with short and long term options allowing creating flexibility in the management of your cashflows. Visit us and we will show you how!

Money Market Investments

Receive high liquidity and good returns for your funds that you do not want to use at the moment, don’t let be idle, invest!! With competitive rates in line with the prevailing market conditions we can help you place your funds for investment for a period of 30, 60, 90 or 365 days.

Bonds – Government and Municipal Bonds

Similar to Treasury Bills secondary market participation, Success will trade on your behalf, to access bonds from government or institutions. A bond is an instrument of indebtedness of the bond issuer to the holders. The most common types of bonds include municipal bonds and corporate bonds. Bonds can be in mutual funds or can be in private investing where a person would give a loan to a company or the government.

Banker’s Acceptance

Enjoy benefit of being able to finance your daily operations with future cash flows, with the ability to pay your creditors now to maintain your reputation and enjoy trade discounts. This is a short-term instrument for periods of 30-90 days.

Derivatives

Create a derivative instrument with our assistance today, enable price discovery, improve liquidity of underlying assets represented by the derivative. Whether they be agricultural commodities, stocks, bonds or currencies will help you create the right instrument for you.

Securitization

A Quicker way to raise capital through the issue of a financial security for subscription by investors – preference shares, bond issue, promissory notes etc. It allows for our customer to access liquidity required to bridge financing requirements (smoothing cash flows).

Negotiable Certificate of Deposits (NCDs)

Issued by the bank to individuals, companies, trust funds, associations etc. the depositors are given promissory notes with a fixed interest rate throughout the investment period. The interest rates are higher than that of saving bank account providing the investor with short term and long term options allowing for and ensuring flexibility.

Commodity Broking Structures

Unsatisfied with conventional financial products and have complicated financing needs? Then structured trade finance is a custom made financial instrument suited for you. We deal with we will assist you in doing commodity structured and assets backed deals, these deals with be executed in a mutually profitable manner in a profit sharing arrangement.

Treasury Bills

This is a short-term debt obligation backed by the full faith government with a maturity of less than one year. Treasury bills (TBs) have maturities of 30 days, 90 days, 180 days or 365 Days. Success Treasury will link buyers and sellers of TB’s by discounting the TB’s for different investment horizons and objectives. We will work with Small and large corporates, Insurance firms, Stockbrokers, Pension funds, commercial banks and any institution holding on to the treasury bills.

Invoice Discounting and Promissory Notes

In liaison with our credit unit, treasury will solicit for business from corporates who are not on cash payments to get liquidity now however at a discount. All corporates supplying to reputable companies can approach us for favourable discount rates which are a cut above the rest in the market. Normally, our discount rates range between 7 and 8% flat of the invoice amount.

Call Accounts

We use the call accounts for settlement of your funds on maturity dates or while waiting for further instructions either to roll over or to pay out. Our call accounts can also be used as transactional accounts and not taxable if the funds are going to the same name with the same that invested. If funds are left in a call account, they will accrue monthly interest on account balance.

Time Deposits

Our fixed/ time deposits are any wholesale funds deposited/invested with the bank from institutional and individual investors. The time deposits offer you as our client, interest rates which are the market rates as per agreed investment tenors or pre-set date of maturity. The deposits will either be secured by properties or securities subject to availability in the case of the interbank in order to cover for liquidity gaps (mismatched book strategy).

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