Mtasa steps down from FMHL after 10 year tenure

Mtasa steps down from FMHL after 10 year tenure

Staff Writer

FIRST Mutual Holdings (FMHL) has made board changes with the resignation of Oliver Mtasa from the group’s chairmanship effective 07 August 2020, having completed his term of office.

The group in a statement noted that this was in line with the principles of good governance that require periodic rotation of directors and board revitalization. Mtasa, a Doctor of Business Administration, has served the company as a director since 2012 and as chairman since 2013.

“During his tenure as chairman, the Group has solidified its presence both locally and in the region,” FMHL said.

Amongst other achievements, First Mutual Holdings Limited acquired NicozDiamond Insurance Limited and successfully managed the integration with TristarInsurance Company Limited.

“Under Mtasa’s stewardship, the Group has consolidated its regional businesses in Mozambique, Botswana and Malawi. In Zimbabwe, the Group has established an asset management company, a microfinance institution and a funeral services company, and has taken its existing businesses to new heights,” the group noted.

Daphine Tomana, a non-executive member of the board, has also tendered her resignation with effect from 1 August 2020, having been a member of the board since July 2018.

“The Board conveys its sincere thanks and appreciation to Mr Mtasa and Mrs Tomana for their dedication, hard work and invaluable contribution to the company.”

Meanwhile, the group has appointed Amos Manzai, an independent, non-executive member of the board to take over the chairmanship of the First Mutual Holdings Limited board with effect from 7 August 2020.

Manzai is a Chartered Accountant and holds a Bachelor of Arts Honours Degree in Economics (Dunelm, UK).

He has extensive managerial and executive leadership experience, has served on the boards of several sizable entities in the public and private sectors and has been a member of the First Mutual Holdings Limited board since January 2018.