Barclays boots out Guvamatanga

Barclays Bank Zimbabwe has forced out its managing director George Guvamatanga, sending him packing with a modest $354,000 exit package as the new majority shareholder First Merchant Bank of Malawi flexes its muscle, it has been established.

The bank's chief finance officer, Sam Matsekete, is currently acting MD.

Guvamatanga, appointed MD in 2008, had been with the bank for 28 years.