Tanzania: George Shumbusho Named New Mkombozi Bank MD

Dar Es Saalam — Former head of Treasury at Exim Bank Tanzania Mr George Shumbusho has been named the new managing director of Mkombozi Commercial Bank.

Mr Shumbusho, whose appointment started January 1, succeeds Ms Edwina Lupembe, who retired from service on December 31, last year. Ms Lupembe led the bank since its establishment nearly eight years ago.

Mr Shumbusho who is an expert in international markets holds a Master's degree in Business Administration he obtained from Maastricht School of Management/ Eastern Africa Management Institute (MsM/Esami).

"The bank board congratulates the outgoing managing director for her exalted service during her tenure, which has turned the bank as one of the banks of choice in quality services," said a statement issued by the bank management January 24.

The management statement says the board believes that Mr Shumbusho will use his expertise in marketing and communications to spearhead the bank success going forward.

Mkombozi Commercial Bank Plc (MKCB) started as an initiative of the Tanzania Episcopal Conference to establish a commercial bank with the main objective of serving and supporting the emerging Tanzanian businesses for provision of financial services.

The bank is also listed at the Dar es Salaam Stock Exchange (DSE) trading as MKCB. Its share price as of yesterday's market report was Sh840 with the market capitalisation of Sh17.32 billion.

Source: The Citizen