Jiya appointed NBM CEO, Kawawa retires
National Bank of Malawi (NBM) plc board of directors has appointed seasoned banker Harold Jiya as chief executive officer designate with effect from January 1 2024.
In an internal communication to the Malawi Stock Exchange-listed commercial bank’s staff that The Nation has seen, outgoing CEO MacFussy Kawawa said Jiya, who was serving the deputy CEO and chief commercial officer (CCO), will become a substantive CEO after his retirement in June.
He said the appointment of Jiya has been made after a careful consideration and strategic planning.
Kawawa, who has been at the helm of NBM plc since 2017, said: “This appointment is a significant step in the bank’s succession planning process triggered by my planned departure as the current chief executive officer on retirement in June 2024. The CEO-designate will work hand in hand with me until I leave.
“HJ , as we fondly call him, brings a wealth of experience and a proven track record of leadership to this role and his appointment is a testament to the rigorous succession planning process the bank has undertaken to ensure a smooth and seamless transition in leadership.”
In a related development, NBM plc has also appointed its chief finance officer Masauko Katsala as chief operating officer (COO) with effect from July 1 2024.
Kawawa said as COO, Katsala will be responsible for operations, information technology, mergers and aquisitions and subsidiaries oversight.
“He [Katsala] will also be assigned other duties by the CEO from time to time, including deputising him in his absence,” he said, adding that between now and June 30 2024 Katsala will work closely with the CEO and CEO-designate as part of the transition towards the retirement of the current CEO.
NBM plc, which is 51.5 percent owned by Press Corporation Limited, 22 percent owned by Old Mutual Malawi and the remaining 26.5 percent held by the public, holds the largest asset base among commercial banks in Malawi at about K1 trillion.
NBM plc has six subsidiaries, including Akiba Commercial Bank of Tanzania, Stockbrokers Malawi Limited, United General Insurance Company Limited, NBM Capital Markets Limited, NBM Development Bank and NBM Pension Administration Limited.
In the year ended December 31 2022, the NBM plc posted a 34 percent rise in after-tax profit to K45.94 billion from K34.21 billion the previous year.
