Veteran accountant Hastings Mtine was on March 31, at a post annual general meeting press briefing named board chair of the largest indigenous bank – ZANACO Plc – in Africa’s copper producer, Zambia. The Lusaka Securities Exchange – LuSE listed bank is the Southern Africans nation largest local bank by both asset and profitability size. Hastings Mtine ascends to the board chair role taking over from Charity Lumpa, the first ever female chairperson in the history of the bank. Until this appointment, Mtine serves as Non Executive Director and Deputy Board Chair.
Mtine is a fellow of the Association of Chartered Certified Accountants with over 4 decades of experience in the practice having held executive roles as partner at KPMG and is currently Managing Partner of MPH Chartered Accountants. He holds an LLB degree from University of Zambia. Other boards he has served on include Mopani and Kwacha Pension Trust Fund as Chairperson. He also serves on the Audit Commitee of Zambeef Plc.
L-R: Newly appointed ZANACO Plc board chair Mr. Hastings Mtine, Outgoing chair Ms. Charity Lumpa, Managing Director – Ms. Mukwandi Chibesakunda at a post AGM briefing on March 31, 2020
ZANACO is at a very critical stage of its transformation life cycle having posted after tax record earnings of K207million according to its FY20 audited financial statements. Mtine has a mammoth task to head a board of the largest local financial institution that seeks to be the coppers producers most profitable bank demonstrated by its industry revenue leadership across all income lines in the previous financial year.
The big strong reliable banks remains ahead of the industry’s digital transformation curve in pandemic times while simultaneously remaining a committed partner in the growth agenda of Zambia through financing key sectors as outline in the seventh national development plan.
The Kwacha Arbitrageur