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Herald Reporter

Banker, Mr Lance Mambondiani is to step down from his post as Managing Director BancABC amid reports that the bank is on the verge of disposal to new shareholders.

BancABC shareholder, Atlas Mara has so far disposed of their banking assets in Mozambique, Botswana, Rwanda and Zambia which coincidentally led to the departure of all their sitting CEOs at the time of disposal.

It is reported that some international investors have been circling around the Zimbabwean bank for some time now and are believed to be close to concluding a deal leading resulting in a mass exodus of executives at the bank including the former Mr Head of IT Twaibu Seremani, Head of Retail, Hope Marere and the Acting CFO Kudzai Muchada among others.

A source within the board indicated that Mambondiani is expected to leave the institution in the next three months once a replacement has been identified and rubbished claims of a fallout with the board. Efforts to reach Mambondiani for comment were unsuccessful.

Efforts to reach out Mambondiani were fruitless as he was not picking up his calls.