Old Mutual Zimbabwe has appointed Samuel Matsekete as the chief executive officer taking over from Jonas Mushosho with effect from January 1, 2020.

“Old Mutual is pleased to confirm the appointment of Samuel (Sam) Matsekete as the Group CEO-designate of Old Mutual Zimbabwe Limited (OMZIL).Sam will commence service on 1 January 2020 following the retirement of the current Group CEO, Jonas Mushosho at the end of 2019,” Old Mutual said in a statement.

Matsekete joins Old Mutual from First Capital Bank, where, he is currently the managing director and has led the successful transition of the bank from being part of the Barclays Group.

Before this role, Matsekete held the position of chief finance officer and also headed up the risk and governance functions that included credit, risk, legal and compliance.

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Matsekete is a qualified chartered accountant and an associate of the Institute of Bankers, Zimbabwe. He completed an Executive Leadership Development Program run for Barclays PLC by Duke University in London and holds a master of business leadership degree from the University of South Africa.

Old Mutual’s Rest of Africa Managing Director, Clement Chinaka, said he is confident that Matsekete will bring the requisite leadership experience and career credentials to lead the business at a particularly challenging time.

“Matsekete was part of the team that set up Old Mutual Asset Managers, now OMIG, in Zimbabwe soon after demutualisation 20 years ago, so I am very pleased to be welcoming him back into the Old Mutual family,” Chinaka added.

Matsekete’s appointment comes at a time when the group has been conducting a rigorous internal and external recruitment process.

“This new appointment does come at a challenging time in Zimbabwe.

However, it is thanks to the strength of our leadership that we have weathered the storm and will continue to seize opportunities for growth. Matseketse can now build on the strong foundation we have in Zimbabwe to take the business forward,” Chinaka said.