SBN Holdings Limited has announced significant changes to its board of directors, including the appointment of a new Board Chairman, Non-Executive Director, and Chief Financial Officer (CFO).
Appointment of Mr. Isac Tjombonde as Board Chairman
In a move to strengthen its leadership team, SBN Holdings has appointed Mr. Isac Tjombonde as the new Board Chairman, effective from April 1, 2024. Mr. Tjombonde, currently serving as an independent non-executive director, brings a wealth of experience and expertise to his new role. Regulatory approval for his appointment was secured on February 5, 2024.
The outgoing Chairman, Mr. Herbert Maier, will retire from the Board of directors of SBN Holdings Limited and Standard Bank Namibia, effective April 23, 2024. Mr. Maier’s tenure has been marked by significant contributions to the company’s growth and success.
Appointment of Mr. Siphiwe Themba Bruce Madonsela as Non-Executive Director
Joining the board as a Non-Executive Director is Mr. Siphiwe Themba Bruce Madonsela. Mr. Madonsela, currently serving as the Executive-Regional Chief Financial Officer in the Standard Bank Group, brings a wealth of financial expertise and strategic insight to his new role. His appointment, effective from February 2, 2024, underscores the company’s commitment to strengthening its governance and oversight mechanisms.
Appointment of Mr. Arlington Tendai Matenda as Chief Financial Officer
Mr. Arlington Tendai Matenda has been appointed as the new Chief Financial Officer (CFO) of SBN Holdings Limited and Standard Bank Namibia, effective from February 5, 2024. Mr. Matenda, currently serving as the Chief Risk Officer, will now oversee the financial operations and strategies of the company. His extensive experience and proven track record in risk management will be invaluable as SBN Holdings continues to navigate the evolving financial landscape.
Ratification by Shareholders
These appointments align with the Issuer’s Nomination Policy and will be subject to ratification by Shareholders at the next Annual General Meeting of the Company. The company expresses its confidence in the newly appointed board members and anticipates their valuable contributions to the company’s continued growth and success.
Congratulations and Welcome
SBN Holdings extends its congratulations to Mr. Isac Tjombonde on his appointment as Board Chairman and warmly welcomes Mr. Siphiwe Themba Bruce Madonsela and Mr. Arlington Tendai Matenda to the board of directors. Their collective expertise and leadership will further strengthen SBN Holdings’ position as a leading financial institution in Namibia.
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