Barclays Bank Zimbabwe has rebranded to First Capital Bank in Association With Barclays after Malawi’s FMB Capital Holdings (FMBCH) successfully acquired the majority stake in the bank last year. At an event held at the Zimbabwe Stock Exchange (ZSE), the bank announced that First Capital Bank will be listing on the local exchange and that the name change is not exclusive to Zimbabwe but applies to Botswana, Zambia and Mozambique.
There have been a number of significant changes to both board and management since the bank was acquired last year. Former chairman Anthony Mandiwanza and board member Canaan Dube have left the board which is now chaired by Tongaat Hulett Zimbabwe managing director Sydney Mtsambiwa. George Guvamatanga who is now the permanent secretary in the Ministry of Finance and Economic Development was replaced as managing director by Samuel Matsekete. Ciaran McSharry, formerly head of cost decision support at Barclays Investment Bank is now the chief finance officer.