Shake-up at Nedbank Malawi: Kulugomba retires as Managing Director

A shakeup has taken place at Nedbank Malawi Limited as managing director Anderson George Kulugomba has retired and Head of Sales, Business Development and Marketing Thembalami Mhlanga has returned to Zimbabwe after a five year tour.

The two top positions are vacant.

Meanwhile, the board of the bank has assigned Rachel Kawawa, chief risk officer to act as managing director while Chikumbutso Kalilombe acting in the place of Mhlanga.

“The board of Nedbank Limited will complete the executive searches for the successors of Andy and Themba as soon as regulatory and other approvals are received,” reads a statement from Nedbank signed by its board chairman Maziko Sauti Phiri.

Kulugomba: Retires

Kulugomba, according to the statement, retired on December 31 2012 after illustrious career since April 1996 and the last three years as its MD.

In November 2012, Kulugomba was rejected by Parliament after he was appointed by President Joyce Banda as the country’s Auditor General.

He holds a Master of Business Administration from the University of Derby in the United Kingdom and is also a Fellow of the Association of Chartered Certified Accountants as well as a Certified Public Accountant-Malawi.

Mhlanga has returned to MBCA Bank of Zimbabwe, a Nedbank group subsidiary after a distinguished five year tour of duty in Malawi.

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