Prominent banker Mushayakarara dies

Prominent banker Elisha Nyikadzino Mushayakarara has died.

A family source said he had cancer and had been in and out of hospital for some time.

Mushayakarara was born on 8 April 1943 and holds a BSc Economics from the University of Zimbabwe.

He joined the Ministry of Finance as deputy secretary between 1982 after working for the Ministry of Finance in Zambia where he held a number of senior positions. He was promoted to Secretary in the Ministry of National Supplies and was there up to 1984 when he was recalled to the Ministry of Finance where he worked for 19 years until he took over at ZB Holdings from Leonard Tsumba, who had left for the Reserve Bank. He was at the helm of ZBFH when it merged with Intermarket Holdings Limited

Mushayakarara left his post as ZB Financial Holding (ZBFH) group chief executive officer in 2013 after 20 years at the helm.

Under his leadership, the ZBFH group became a diversified financial services group incorporating banking, life assurance, short term insurance, reinsurance, stockbroking units and asset management.

During his time at ZBFH, he was the president of the Bankers’ Association of Zimbabwe twice and continued as the association’s immediate past president after his second term.

He received many accolades during his life including an award for a life-time of excellence in management by the Zimbabwe Institute of Management in 2013.

Mushayakarara also chaired the boards of Mashonaland Holdings, RioZim and Insurance and Pensions Commission.

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