First Capital Bank Plc appoints Agness Jazza as new CEO
Agness Jazza, who was deputy chief executive officer (CEO) for First Capital Bank Plc, has now been elevated as the new CEO effective July 21, replacing Spiro Georgopoulos.
In a statement, FCB chairman of Board, Terence Davidson takes cognizance that Jazza has served the company for the past 21 years and has “risen up the ranks due to her talent, hard work and loyalty.
“Agness established her career with the bank immediately after completing her undergraduate studies and her success is a true reflection of FCB’s belief in nurturing talent and commitment to staff development.
Jazza is a graduate of the Stellenbosch University’s Executive Development program and holds a Master of Business Administration degree from the Management College of Southern Africa (Mancosa).
“The Board of First Capital Bank Malawi wishes Agness the greatest success in her new role as Chief Executive Officer,” said the Chairman in the statement.
Over the years, First Capital Bank — which the main subsidiary of FMB Capital Group in Malawi — has tremendously experienced growth since 1995 when it was founded by Hitesh Anadkat as First Merchant Bank with only one branch in Delamere House in Blantyre.
It is the country’s first private bank and was granted the third-ever banking licence by the Reserve Bank of Malawi. It is headquartered and main branch in Livingstone Towers, along Glyn Jones Road, in the central business district of Blantyre City.
With focus on Malawi’s corporate market, and with a large emphasis on service and customer relationships, First Capital had a successful start and began to show profits after only two years of trading.
In 2000, First Capital wholly acquired the Leasing & Finance Company Malawi Limited, which was since been dissolved and merged into First Capital Bank Malawi.
In 2008, the Bank led a consortium that was granted a banking licence in Botswana, where a subsidiary of FMB Capital Holdings Plc, First Capital Bank Botswana Limited trades.
The bank expanded its regional footprint in 2013, with the acquisition of ICB Banking Group’s businesses in Malawi, Zambia and Mozambique and in December 2017, First Capital Bank Malawi de-listed its shares from the Malawi Stock Exchange and the value of its stock shares were acquired by the newly-created holding company, FMB Capital Holdings Plc, whose shares are now listed on the MSE.
Member companies of the FMBCapital Holdings Group include First Capital Bank Malawi Limited at 100% ownership; First Capital Bank Botswana; First Capital Bank Mozambique at 40% ownership (established July 2008); First Capital Bank Mozambique at 70% ownership (acquired June 2013); First Capital Bank Zambia at 49% ownership (acquired June 2013) and First Capital Bank Zimbabwe at 62% ownership (acquired October 2017).
The Bank’s operational branches in Malawi are Blantyre Branch (First House, Glyn Jones Road); Capital City Branch (Chief M’mbelwa House, Robert Mugabe Crescent, City Centre); Limbe Branch (FMB Building, Churchill Road); Lilongwe Branch (Old Kandodo Building, Kamuzu Procession Road); First Corporate Service Branch (Livingstone Towers, Glyn Jones Road); Mzuzu Branch (Orton Chirwa Avenue) and Zomba Branch (Kamuzu Highway & Main Road).
In addition to the seven brick-and-mortar branches, the bank maintains another 22 agency banking locations, where many of its financial institution’s services can be accessed.—Additional reporting by Duncan Mlanjira, Nyasa Times
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