GEORGE Nheweyembwa, the GetBucks Microfinance Bank (GetBucks) managing director, says he has not left the listed financial services group.
This comes amid swirling rumours that the ex-ZB Bank boss and chartered accountant had resigned effective December 31, and yesterday the seasoned executive said it was impossible for him to have exited without any notifications – to and – from regulators.
“GetBucks is a listed company and there is no way l would have left without public notices in line with the dictates of various regulators, including the Zimbabwe Stock Exchange and Reserve Bank of Zimbabwe,” Nheweyembwa said, adding “the stories could have been peddled by competitors angling for the profitable bank”.
“Banks are sensitive institutions and, so, we cannot act in an manner that is irresponsible, and not prudent to a point of undermining confidence in this key sector,” he said.
While the fintech company had recently applied to the central Bank for a moratorium on the new US$5 million capital adequacy ratio by December 31, Nheweyembwa said it was unfortunate that their detractors had tried “to conflate other things linked to group founder George Manyere and wholly unrelated to the bank”.
Owned by GetBucks Mauritius and Ecsponent Limited, the decade-old institution recorded a $170 million revenue as at September and had an inflation-adjusted mandatory capital base of $192 million, according to company secretary Wimbayi Chigumbu in a recent a trading update.
Appointed in January 2021, Nheweyembwa took over from Terrence Mudangwe – a former BancABC executive – and who had also succeeded Mercy Murevesi.
When the ex-GetBucks Mozambique MD and seasoned banker was appointed last year, the bank said it had managed to “weather the storm of a challenging economy and, therefore, it was reengineering itself for the future”.
