#MondayBlues: Steward Bank Boss, Lance Mambondiani Forced To Resign?


After serving as the Chief Executive for one of Zimbabwe’s fastest growing and biggest banking institution by subscriber base, for more than 6 years, Lance Mambondiani exclusively confirmed to TechnoMag that he tendered his resignation at Steward Bank.

While the Econet family has also sent out a public statement on the resignation, there is massive street speculation that the Steward bank Boss has left the institution under unclear circumstances, while ZimLive already claimed that Strive Masiyiwa was involved in his subsequent firing, over unsanctioned financial transactions.

The allegations stated that Lance Mabondiani was involved in some foreign currency transactions, which irked the board forcing them to act against his contract before he resigned.

However there could not be any evidence to substantiate these claims by the time of going to publish, which really weighs down the allegations to nothing but speculation.

When we spoke to Mambondiani over the weekend, he insisted that there was nothing beyond the resignation, and was in fact glad to have served for over 6 years, but was now only looking towards new opportunity, as he got an interesting offer somewhere, which only makes sense.

Here is his public statement he meant over the whole matter.

Yesterday l tendered my resignation to the Steward Bank board to pursue other interests. Although it’s been more than six glorious years, It feels like yesterday when l started on this incredible gig. I am graciously indebted to the board, the shareholder and the purple team for supporting me through my role. It has been a privilege to serve this great vision. As overwhelming as it is, l believe time has come to say goodbye, to allow someone else to take the bank into a new growth stage and for me to sink my teeth into another challenge. I will always remember how special l felt serving all Steward bank customers no matter how small their query. I have fond memories of how crazy and inspired the team has always been launching one ground breaking innovation after another and how emotional it has been to see the bank grow through the combined efforts of a highly driven team that has achieved so much in such a little space of time. My heart and soul goes out to all the stewards across the country who have been loyal to the vision and supported my madness through the years, l owe all of you a debt of gratitude. Nonetheless, I am excited that I will be embarking on an equally challenging role and thankful to God for His Grace.

Steward Bank Boss, Lance Mambondiani Resigns

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