SBN Holdings Limited Announces Changes to Board of Directors

  • New Chairman Appointed: Mr. Isac Tjombonde becomes Chairman of SBN Holdings and Standard Bank Namibia, effective April 1, 2024.
  • Board Restructuring: Mr. Herbert Maier retires while Mr. Siphiwe Themba Bruce Madonsela joins as a Non-Executive Director.
  • Executive Changes: Mr. Arlington Tendai Matenda appointed Chief Financial Officer, effective February 5, 2024.

BN Holdings Limited, a leading financial institution in Namibia, has disclosed significant alterations to its Board of Directors, effective April 1, 2024. These changes aim to enhance leadership and governance within the company.

Appointment of Mr. Isac Tjombonde as Chairman

In a recent announcement, SBN Holdings revealed the appointment of Mr. Isac Tjombonde as the new Chairman of the Board of Directors. Mr. Tjombonde, who currently serves as an independent non-executive director, will assume the role of Chairman for both SBN Holdings Limited and Standard Bank Namibia Limited. His appointment follows the extension of tenure granted by the Board, indicating trust in his leadership capabilities. Regulatory approval for this appointment was granted on February 5, 2024.

Retirement of Mr. Herbert Maier

Concurrently, Mr. Herbert Maier, an Independent Non-Executive Director, will retire from the Board of directors of SBN Holdings Limited and Standard Bank Namibia, effective April 23, 2024. Mr. Maier’s contributions to the company have been significant, and his retirement marks the end of an era.

Introduction of Mr. Siphiwe Themba Bruce Madonsela

Joining the Board as a Non-Executive Director is Mr. Siphiwe Themba Bruce Madonsela. Mr. Madonsela brings a wealth of experience, currently serving as the Executive-Regional Chief Financial Officer in the Standard Bank Group. His appointment reflects the company’s commitment to diversifying expertise and perspectives within its leadership.

Mr. Arlington Tendai Matenda Appointed as Chief Financial Officer

Additionally, Mr. Arlington Tendai Matenda, the current Chief Risk Officer, has been appointed as the Chief Financial Officer (Executive Director) of SBN Holdings Limited and Standard Bank Namibia Limited, effective from February 5, 2024. Mr. Matenda’s transition to this pivotal role underscores the company’s focus on strategic financial management and risk mitigation.

Shareholder Ratification

These appointments will be subject to ratification by the shareholders at the next Annual General Meeting of the Company. It is customary for shareholders to confirm such significant changes to the Board of Directors during these meetings.

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