Mnangagwa NBS board appointment: Nepotism or merit?



Staff writer

THE main opposition MDC Alliance has expressed displeasure at the appointment of President Emmerson Mnangagwa’s relative, Kudakwashe David Mnangagwa, to the National Building Society (NBS) board, describing the move as nepotism.

The Mail and Telegraph investigations unit carried out its own investigation as well as did due diligence to find out whether Mnangagwa has the required qualifications to be a potential NBS board member.

Was the appointment based on merit or nepotism?

Mnangagwa was appointed as NBS board member in 2015 and is currently the Managing Director of Flame Lily Venture Capital Group which is in charge of a multi-million-dollar investment fund.

He holds a bachelor of science in business administration, Actuarial Science degree from Drake University (United States of America).

Prior to joining Flame Lily VCG, Mnangagwa worked at Aon Consulting as an actuarial associate with a client pension fund portfolio in excess of US$9 billion.

He has experience in insurance product development having worked for Budget Insurance in Des Moines, Iowa.

His appointment has been renewed for the next three years by NBS pending approval by the Reserve bank of Zimbabwe.

Despite Mnangagwa’s experience and qualifications the MDC Alliance national spokesperson Jacob Mafume said the appointment showed that Mnangagwa’s new dispensation was not different from that of former President Robert Mugabe, who appointed his daughter, Bona, and her husband Simba Chikore to very influential positions at State-owned Enterprises (SoEs).