Jerry Muadinohamba has retired from his position as an Independent Non-Executive Director of Standard Bank Holdings Limited.
Muadinohamba ’s retirement was effective from the listed company’s Annual General Meeting held of 22 April 2022.
“The board wishes to advise shareholders that Mr Jeremia Muadinohamba has lodged his notice of retirement as Independent Non-Executive Director from SBN Holdings Limited and therefore was not available for re-election. We acknowledge the tremendous contributions that Mr. Jeremia Muadinohamba has made towards directing SBN Holdings Limited and we would like to thank him for his unwavering support and guidance over the years,” said the company board.
Contacted for comment, Muadinohamba confirmed his resignation and said he had given 13 years of service to the financial institution and it was now time to move on and create space for fresh blood and fresh ideas.
“It is required of directors to step down after a long tenure. We must give others the space,” he said.
Muandinohamba said he wants to focus his energies on his recently launched property fund, Matutungu Property Fund (MPF) ,launched in March with plans to bridge the finance gap and reduce the country’s housing backlog.
The Standard Bank board is yet to announce Muadinohamba’s replacement on the board.
Muadinohamba has had an illustrious career as a business leader, including a long stint as the Chief Executive Officer of the Motor Vehicle Accident Fund.
