Kwanele Ngwenya

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Kwanele Ngwenya
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Kwanele Ngwenya
BornKwanele Ngwenya
(1968-05-04) May 4, 1968 (age 51)
South Africa
ResidenceHarare, Zimbabwe.
Other namesBatshele
Occupation
  • Banker
  • Administrator
Years active2006–present

Kwanele Batshele Ngwenya is a South African born banker and business expert who has worked in various administrative capacities in Zimbabwe, South Africa and Botswana. He is the former Chief Executive Officer of Steward Bank Limited (formerly T.N Bank) which is owned by Econet Wireless Zimbabwe. He was appointed to the position in February 2013 and he has previously worked for regional banks such as FNB Botswana.


Background[edit]

Kwanele Batshele Ngwenya was born on the 4th of May 1968 and is believed to have grown up in neighbouring South Africa.


Academic Background[edit]

Between 1999 and 2004, Ngwenya studied for an MBA in Business degree at Oxford Brookes University. Ngwenya holds a Masters of Science Degree in Strategic Management in Business.[1] Ngwenya attended University of Fort Hare. His research Interests are mainly in areas of Development Economics and Agriculture.[2] He also attained an MSc in strategic management in Business from University of Derby between 2008 2010.

Career[edit]

From 2004 to 2007 he was the Director of Client Portfolio at First National Bank of South Africa. He subsequently moved to the Botswana branch where he worked as Head of Corporate Banking from 2007 to 2008. From 2009 to 2013, he was elevated to the position of Director Branch Banking First National Bank Botswana.[3]

Career as C.E.O of Steward Bank[edit]

In a press statement released in January 2013 on the appointment of Ngwenya, Econet Wireless Zimbabwe reported that;

"Econet Wireless has appointed Mr Kwanele Ngwenya, a South African who was heading the operations of First National Bank (FNB) in Botswana, as the new CEO of TN Bank. Mr Ngwenya, a veteran banker, was head hunted by an international agency after Econet decided that it wants to turn Steward Bank into one of the leading banks in the country. The telecoms operator wants to introduce a new model of banking in the country which uses the synergies of its telecoms business." [4] At Steward Bank, Ngwenya took over from former CEO George Nyashanu, who has been re-assigned within Econet Wireless Services. The development followed the takeover of the bank by the mobile telecommunications company after the majority of Steward Bank shareholders accepted the offer by the telecoms group to buy them out of the then TN Bank Limited.[5] After having been at the helm of Steward for almost two years, Ngwenya left and was replaced by Lance Mambondiani.[6]

Successes[edit]

During his tenure as CEO of Steward Bank Limited in 2014, Ngwenya was credited for partnering the Econet's EcoCash brand to allow customers to access loans. The Ecocash Save and EcoCash Loans allowed customers to access loans of up to $USD 500 using their cell phones.[7] At the launch of the service, Ngwenya was quoted as saying, “now $20 million sitting in the one million accounts opened through cellphones.” He said both EcoCash and Steward Bank had undertaken extensive research and had shared findings of the research – which he claims proved the ‘safety’ of the mobile based loans and a low anticipated default rate – with the country’s central bank.[7] Ngwenya was also credited for having narrowed its six-month after tax loss to $3,8 million from $22 million the previous year.[8]

Awards[edit]

  • Dec 2014- Ngwenya was voted the Outstanding Businessman of the Year at an awards ceremony held in Harare.[9]

References[edit]

  1. , Board of Directors,Steward Bank Limitedretrieved:9 Jan 2915"
  2. , Kwanele Ngwenya,academia edu,retrieved:9 Jan 2015"
  3. , Professional Experience,Yatedo, retrieved:9 Jan 2015"
  4. , Econet appoints SA Banker as new TN Bank CEO,Tech Zim, published:12 Feb 2013,retrieved:9 Jan 2015"
  5. , Ngwenya new TN Bank Boss,Young Zimbabwe, published:13 feb 2013,retrieved:9 Jan 2015"
  6. LSM Kabweza Lance Mambondiani appointed Steward Bank acting CEO, TechZim, Published: January 21, 2015, Retrieved: January 23, 2015
  7. 7.0 7.1 , ZIMBABWE’S ECONET LAUNCHES MOBILE MONEY LOAN SERVICE,The Hababri Network, published:3 Apr 2014,retrieved:"
  8. Steward Bank chief executive resigns, New Zimbabwe, Published: January 8, 2015, Retrieved: January 23, 2015
  9. , Industrial growth top priority, says Mphoko,The Zimbabwean Situation, published:22 Dec 2014,retrieved:9 Jan 2015"