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Bank Governance


The Board of Directors retains full and effective control of the bank and monitors the Executive Management Team. The Board is also responsible for direction, policies and strategies and all investment and divestment decisions. It also ensures that the bank meets its responsibilities towards all its stakeholders and that the bank is prudently managed against the major risks inherent in business and banking......



Patrick Wanjelani

Board Chairman

Mr. Wanjelani is the Chief Executive Officer of Newgen Holdings Limited, a financial consultancy, risk management and construction company. Mr. Wanjelani has extensive experience in Banking, Auditing and Finance accumulated over 30 years. He also has considerable experience in Organisational Change and Transformation, Finance and Financial Planning and Corporate Governance. Mr. Wanjelani is currently the Board Chairman for Kenya Reinsurance Zambia Limited and is a director of Kumil Energy Limited and Newgen Construction Limited. He is a non-executive director of the Center for Infectious Disease Research (CIDRZ) Board and Blue Light Risk Management Limited. He has held positions of Head of Assets Liability Management (ALM) at Barclays Africa Group Treasury in Johannesburg South Africa and Chief Financial Officer and Executive Director at Barclays Bank Zambia Plc. He has also been Board Chairman of the Rural Electrification Authority (REA) and a Board Member of ZESCO Limited, Real Estate Investments Zambia Plc (REIZ) and the Lusaka Water Supply & Sanitation Company, where he was Chairman of the Audit Committee. Mr. Wanjelani has also held a position of Technical Advisor on the International Federation of Accountants Ethics Committee based in the United States of America. Mr. Wanjelani is a Fellow of the Association of Chartered and Certified Accountants (FCCA) and the Zambia Institute of Certified Accountants (FZICA). He holds an MBA from Oxford Brookes University, UK, and has a Diploma in Business Administration from West London College and Professional Accounting Diploma from Thames Valley University, Berkshire, UK. He has also trained in Leadership for the Cutting Edge from GIBS University, South Africa



Regina Mulenga

Vice Board Chairman

Mrs. Regina Mulenga has broad and diverse experience across Corporate, Retail Banking and Operations. Key clients include Central Banks, Commercial Banks, Medium and Large Multi-National Companies and portfolios of Small & Medium Enterprises including Agricultural sector businesses. Mrs. Mulenga is currently a Board Member of Micro Finance Zambia Limited chairing the Credit and Risk Board Committee. She has also held the position of Vice -Chairperson of the Board of Directors at National Institute of Scientific & Industrial Research (NISIR). Mrs. Mulenga held various positions whilst at Barclays Bank Zambia PLC such as; Director - Retail and Business Banking, Country Head Trade, Head - Small Medium Enterprises Segment, Head Operations, Head Cash Management and Trade Finance and Head-Trade Finance and Electronic Banking. At Standard Chartered Bank Zambia, she held a position of Manager – SME Banking, she also held a regional position representing HSBC in the Central African Region. Mrs. Mulenga also Headed Financial Institutions Department at Citibank Zambia limited. Mrs. Mulenga has made presentations at several international conferences such as; the Euromoney International Investors Conference, Chartered Institute of Management Accountants (CIMA), Conference on Wealth Creation, African Association Central Bankers Association’s conference on Financial Inclusion. Mrs. Mulenga has a Masters in Business Administration (MBA), Chartered Association of Certified Accountants qualification and A levels in Economics and Business studies. She has also attended various in-house courses such as; Train-the-Trainer, Business Continuity Management & Planning, Credit Principles and Application and Managers’ and Leadership Programs



Mukwandi Chibesakunda

Chief Executive Officer*
*Non Board Member

She is a Past President of the Zambian Institute of Banking and Financial Services, and hails with wide experience in various Financial Service Industry roles. With a banking career spanning over 14 years, she served as first female Managing Director for Access Bank Zambia Ltd. 

Prior to her appointment as Chief Executive Officer for Zanaco, she served as Managing Director National Savings and Credit Bank. She has also served in Executive capacities at Stanbic Bank Zambia as Head of Personal and Business Banking, and at Standard Chartered Bank Plc as Executive Director Consumer Banking. Mukwandi has been featured in various leading publications such as the Forbes Magazine and African Leadership Magazine, addressing subjects on leading transformational growth and supporting the growth of SME’s. 

She has also been very instrumental and influential at The Africa List level and has earned various awards as a leader that drives performance. In February 2019, she was one of ten delegates from across the African continent conferred with a leadership award from the African Leadership Magazine, in recognition of her corporate governance leadership. 

She holds a Master’s Degree in Business Administration (MBA), a Bachelor of Arts degree in Economics from the University of Zambia and a postgraduate Diploma in Business Administration from Manchester Business School.



Chearyp Mkandawire-Sokoni

Non-Executive Director

Mrs. Sokoni is the Chief Finance Officer of the Industrial Development Corporation (IDC), having previously worked for Chloride of the ART Group, Copperbelt University, Audit Commission (UK) and KPMG (Malawi and Zambia). She is an alumnus of the Harvard University Business School and the University of Edinburgh Business School. Her focus for the Edinburgh University MBA was on Mergers & Acquisitions Investment Management & Securities Exchange. Her dissertation investigated the Informational Efficiency of three Securities Exchange Markets in Southern Africa namely the Johannesburg Securities Exchange (JSE), Malawi Securities Exchange and Lusaka Securities Exchange (LuSE). She has further studied mergers, acquisitions and other corporate restructuring and Corporate Governance at Harvard University. Her Harvard Business School Advanced Management Program (AMP) personal case work involved the development of a framework for Corporate transformation focusing on qualitative metrics. Chearyp is a fellow of the Association of Chartered Certified Accountants (ACCA) and Zambia Institute of Chartered Accountants (ZICA) with 22 years of post-qualification experience. She is an Advocate for ACCA and a member of the ACCA Africa Advocacy Programme where she sits on the Accounting and Business Committee. She is also a member of the Accounting and Finance Industry Insights Alumni Advisory Group of the University of Edinburgh Business School tasked to review the University curriculum to better respond to today’s business needs in accounting and finance. She is a ZICA accredited mentor for the Chartered Accountant (CA) Zambia practical training and a member of the Society of Corporate Compliance and Ethics (SCCE). She is an IDC nominee on the Zambia National Commercial (Zanaco) Bank Board of Directors and the Zambia Forestry and Forest Industries Corporation Plc (ZAFFICO) Board of Directors where she chairs the Audit and Risk Management Committee. She has previously served as the Chairperson of Superior Milling Company Board and as Chairperson of the Investment Committee of Saturnia Regna Pension Fund Trust







Mukuli Chikuba

Non-Executive Director

Mr. Mukuli S. Chikuba has extensive experience in macro-economic policy management, commerce and debt management. Additionally, he has considerable experience in the Banking sector emanating from the portfolios he has held in the public sector. He is currently serving as Permanent Secretary at the Ministry of Finance and National Planning in charge of Budget and Economic Affairs. His role involves interactions with the Zambia Revenue Authority, Bank of Zambia and other economic players such as think tanks, regulators of capital markets, pensions and insurance. He has also served on a number of Boards among them those in the mining sector, pensions and boards of other State-Owned Companies and grant aided institutions. He holds a Bachelor’s degree in Economics from the University of Zambia, a Masters of Business Administration (Finance) from Oxford Brookes University, (UK), and a Masters of Arts Degree in Development Studies from the National Graduate Institute for Policy Studies – Tokyo. He is currently pursuing a Doctorate in Business Administration



Yamfwa Chinyanta

Non-Executive Director

Mr. Yamfwa Chinyanta is an Executive Coach, Human Resources and Development Professional and a People and Technology Champion whose current role is The Director for Human Resources and Administration at AGRA, a non-Profit Organisation headquartered in Nairobi, Kenya, that aims to catalyse and sustain inclusive agriculture transformation in Africa. As a member of the leadership team, Mr. Chinyanta oversees the full HR and Admin suite including talent acquisition, management and development, total rewards, HR operations, strategy and analytics, and a team of HR Business Partners and Admin Professionals. He is responsible for providing strategic HR leadership across an organisation that is spread across 14 African countries and has 28 different Nationalities. Mr. Chinyanta has 19 years’ experience as both an HR Professional and Technology Expert across diverse industries such as Manufacturing, Non-Profit, Telecoms and Agriculture and has extensive local and multi-regional experience. He has held various positions as Head of HR at Cargill and Zamanita where he also served as Executive Director of the Board; Anglophone Head for Shared Services at Airtel Africa; Head of HR Operations Analysis; Talent Development, Management and Engagement Manager at both Airtel Zambia and Airtel DRC, and as an Information Technology Specialist for John Snow Incorporated under the USAID|DELIVER PROJECT. He also currently serves as a non-Executive Director at Digital Shared Services Limited. Mr. Chinyanta holds a Master’s in Business Administration in Strategic Planning; a Senior Professional for Human Resources International (SPHRI) certification; is a SAQA Certified Occupationally Directed Education and Training Development Practitioner Certificate (OD-ETDP); has a Bachelor’s Degree in Computer Science; is a Microsoft Certified Professional (MCP); and has a Practitioner’s Diploma in Executive Coaching.



David Musunga

Non-Executive Director

Mr. Musunga is a performance strategic leader and advisor with executive oversight experience gained over 25 years of working across banking, commercial and residential real estate sectors. He has a track record of leading and producing exceptional results across all aspects of Corporate Banking including Business Development, Risk Management and Banking Operations. He has over 15 years of Board level experience across public and private sector organisations. Mr. Musunga is currently a Principal Partner at Reit Limited. He has held the position of Director Head – International Corporates at Standard Chartered Bank Zambia PLC. He has also held the position of Senior Corporate Banking Manager- Copperbelt Region at Barclays Bank Zambia PLC and also held the position of Corporate Banking Manager. Mr. Musunga has held positions of Board member and Vice Chairman of the Finance Committee at Nkana Water and Sewerage Company. He has also held the position of Trustee at Samuel Matete’s Sports for Youth Programme, Chairman of the Finance Committee, Kitwe and District Chamber of Commerce and Industry, Board member at ZAMINEX, Board member at Mwembeshi Water Company Limited and Board member at Nkana Water and Sewerage Company. He is currently the Zanaco FC Board Chairman.