Kudakwashe Mukushi Appointed New Absa Bank Finance...

Kudakwashe Mukushi Appointed New Absa Bank Finance Director and Executive Director

Zim Now writer

Absa Bank Botswana has announced the appointment of Kudakwashe Mukushi as its new Finance Director and Executive Director, reinforcing its executive team with a seasoned financial expert as the bank continues to post strong financial results.

Mukushi joins Absa from Botswana Insurance Holdings Limited (BIHL), where he served as Group Chief Finance Officer until March 2025. His departure from BIHL followed a notable tenure in which he oversaw the group’s financial strategy and performance.

Before his role at BIHL, Mukushi built a strong financial services portfolio in Zimbabwe. He held key positions at the now-defunct Zimbabwe Allied Banking Group and the Mining Industry Pension Fund, where he gained experience in banking, pensions, and investment management.

His appointment comes as Absa Bank Botswana reported robust earnings for the year ended December 31, 2024. The bank recorded a 27% increase in profit before tax, driven by an 8% rise in net interest income and a 12% increase in fee and commission income. The institution also managed to reduce operating expenses by 6%, achieving a Return on Equity of 26%.

Mukushi’s arrival is expected to bolster the bank’s financial oversight and support its growth strategy in Botswana’s competitive banking sector. Absa Bank Botswana is a key part of the Absa Group, one of Africa’s largest diversified financial services providers.