AfrAsia boss visits Zimbabwe

AfrAsia Bank Mauritius CE James Benoit was recently in Zimbabwe to firm up discussions on the hunt for a new managing director for AfrAsia Bank Zimbabwe and strategies to solve the banking unit's solvency challenges.

The development comes amid growing speculation that ABL has been reluctant to inject further capital into the retail unit due to reservations about AfrAsia Zimbabwe's stewardship under CE Lynn Mukonoweshuro.

Although the group's corporate communications executive Sekai Chitemerere did not confirm nor deny that Benoit was in the country.

While markets reports claim ABL prefers a new leadership not linked to AZHL's founder Nigel Chanakira, Chitemerere insisted that the Mauritanian shareholder has faith in Mukonoweshuro.