The chief executive officer (CEO) of the Deposit Protection Corporation (DPC), Vusilizwe Vuma has resigned.
In a public notice, the chairperson of the board of directors, Agmos Moyo said:
<blockquote>
The board of directors of the Deposit Protection Corporation announces the resignation of Mr Vusilizwe Vuma as chief executive officer of the corporation effective 1 April 2022.
The board would like to further advise that Mr Gift Chirozva has been appointed as the acting CEO of DPC.
The details of the CEO’s substantive replacement will be announced at a later date, bearing in mind that the recruitment process has already been initiated (in terms of the provisions of the Public Entities Corporate Governance Act (Chapter 10:31) to determine Mr Vuma’s succession.
DPC would like to thank Mr Vuma for his service to the corporation and wishes him every success in his future endeavours.
</blockquote>
<h4>More: <a href="https://www.chronicle.co.zw/deposit-protection-corporation-ceo-vuma-resigns/">Chronicle</a></h4>

Pindula News

Deposit Protection Corporation CEO, Vusilizwe Vuma, Resigns

Lion Microfinance Limited was on Friday placed under the management of a curator. This was revealed by the Reserve Bank of Zimbabwe in a statement. The statement reads:
<blockquote>Notice is hereby given that Lion Microfinance has today been placed under the management of a Curator, for a period of three months in terms of the Microfinance Act [Chapter 24:29].
This follows a determination that the institution is not in a sound financial condition mainly due to critical under capitalisation and weak corporate governance.
Further, take notice that the Deposit Protection Corporation has been appointed the Curator of Lion Microfinance Limited.</blockquote>
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/EAaOTJYXsAAHGPS?format=jpg&amp;name=900x900"/>

Lion Microfinance Placed Under Curatorship

While responding to questions from the floor during a workshop in Bulawayo to create awareness on the operations of the Deposit Protection Scheme run by the Deposit Protection Corporation (DPC), DPC chief executive officer Mr John Chikura said they have started taking action against shareholders and directors of failed banks.
Said Chikura:
<blockquote>You will notice that we have recently started doing this (suing of shareholders and directors) and these court cases are playing out in the courts. None of the cases have come out for hearing yet, but we hope that when that happens we will be successful.</blockquote>
In an interview with The Herald after the workshop, Chikura said the DPC has issued summons to shareholders and directors of Royal Bank, Trust Bank and Interfin.
More: <a href="http://www.herald.co.zw/dpc-sues-failed-banks-executives/">Herald</a>

DPC starts taking legal action against shareholders and directors of failed banks

The Deposit Protection Corporation (DPC) will sue all bank directors and shareholders who abused depositors’ funds, leaving the institutions without enough assets to recover the funds.
In an interview with The Herald DPC chief executive Mr John Chikura said that they are determined to recover all or a significant portion of the depositors funds that were lost in the failed banks. The corporation is already suing Interfin Bank for prejudicing depositors of $136 million.
They are also in the process of compensating depositors of failed banks including AfrAsia, Allied Bank, Genesis Investment Bank, Capital Bank, Royal Bank, Trust Bank and Tetrad Investment Bank, to a maximum insurable limit of $1 000.
More: <a href="http://www.herald.co.zw/dpc-to-sue-failed-banks-directors/">Herald</a>

Deposit Protection Corporation Latest News

Latest Jobs