Board of Directors

Dr. John Mushayavanhu

Dr. John holds a Postgraduate Diploma in Management from Henley College, (UK) and a Master of Business Administration degree from Brunel University (UK). In addition, he is a Certified Associate of the Institute of Bankers of Zimbabwe (AIBZ). He is also a holder of a Doctor of Business Administration (Malaysia). John has more than 23 years banking experience spanning all facets of Corporate, Retail and Investment Banking. He has worked at Standard Chartered in Africa and the United Kingdom and at FBC Holdings Limited in senior capacities. Prior to being appointed Governor of the Reserve Bank of Zimbabwe, he was the Group Chief Executive of FBC Holdings Limited, a diversified Financial Services Institution.

Mrs Mathilda Dzumbunu

Mathilda Dzumbunu is a senior leader in Zimbabwe’s financial and business sectors, serving as Deputy Chairman of the Reserve Bank of Zimbabwe’s Board of Directors, Chairman of the RBZ Audit Committee, and is a member of the Monetary Policy Committee. Previously Mathilda was the Chairman of the People's Own Savings Bank (POSB) and through her astute leadership helped the Bank to return to profitability and declare dividends after years of reporting trade deficits. Mathilda is a Chartered Governance Professional and an accomplished entrepreneur, having won the ZNCC First Prize in the Women in Business Awards (2019). She has reshaped perceptions of women in the workplace by leading through example and demonstrating strong, consistent leadership. Under her guidance, her company Aquamist Beverages built a trusted brand in the hospitality and retail sectors. A strategic thinker, she earned Academic Prizes from the Institute of Chartered Management Accountants in Zimbabwe and won the University Book Prize for academic excellence from the University of Zimbabwe. Renowned for her focus, honesty, and attention to detail, her active stakeholder engagement across industries and steady governance helped her play a significant role as a Finance Executive in the companies that she has worked for over the past 40 years, which include Chemplex Corporation; Zimbabwe Phosphate Industries (Zimphos); Merchant Bank of Central Africa (MBCA now Nedbank), and Beverley Building Society (now CBZ BuildingSociety). Her professional engagements include consulting for Sapientis Advisory (SA), being a Non-Executive Director of St Angela High Advisory (SA), being a Non-Executive Director of St Angela High School, and recently making a breakthrough in the male- dominated construction industry as CEO of Cypress Housing and Construction (Private) Limited.

Dr. Jesimen T. Chipika

Dr. J.T. Chipika is a re-nowned economist and researcher who is currently one of the two Deputy Governors of the Reserve Bank of Zimbabwe. Dr. Chipika is is passionate about financial inclusion. She is a former technical advisor in the Ministry of Finance and former lecturer at the University of Zimbabwe. She was also Programme Officer to the International Labour Organisation and the United Nations. Dr Chipika has published books and research papers on economics, broad based empowerment, poverty, Millennium development Goals and pro-poor policy making. She holds a PhD in Social Studies specializing in Economics which she attained in 1994 from the University of Zimbabwe. She also holds an MSc degree in Economics from the same University attained in 1985. She attained BSc. Economics from the University of Zimbabwe, in 1983.

Dr. Innocent Matshe

An immediate former Director at the African Economic Research Consortium (AERC), Dr. Innocent Matshe, was appointed Deputy Governor of the Reserve Bank of Zimbabwe (RBZ) effective October 1, 2022. As Deputy Governor, Dr. Matshe is also a member of RBZ Board of Directors, and a member of its Human Resources Management, Banking Sector Stability, Audit and Oversight committees. Dr. Matshe who is also a member of the Monetary Policy Committee has served on Boards of various other public and private institutions across Africa and brings a vast wealth of experience to the central bank. An expert in Digital Finance, and Applied Economic Policy Analysis, Dr. Matshe has previously held prominent positions internationally, including as a consultant for the World Bank and as Chairman of the Department of Economics, University of Zimbabwe. He joined the AERC from the Human Sciences Research Council (HSRC), where he was a Senior Research Specialist responsible for economic performance and development research. In the RBZ, Dr Matshe oversees the Risk Management and Compliance Unit; Banking Operations and Currency Management; Economic Research, Modelling & Policy; and ICT, Innovation Hub & Fintechs Division

Mr. Edwin I. Manikai

Mr. Edwin Isaac Manikai is a Founding and Named Partner of Dube, Manikai & Hwacha Legal Practitioners and Chairman of the firm’s Executive Committee. He holds a Bachelor of Laws (Honours) degree and an LLB from the University of Zimbabwe, and completed the Commonwealth Young Lawyers’ Programme in the United Kingdom in 1992. Widely regarded as one of Zimbabwe’s leading commercial lawyers, Mr. Manikai is recognised by Chambers Global as one of only four Band 1 lawyers in Zimbabwe. The 2026 edition describes him as a lawyer acclaimed by his peers for his ability to “innovate and think outside the box when resolving complex commercial matters”, noting that his experience is “a cut above the rest.” He is further praised as “always on call and very dedicated,” and as a stand-out lawyer in the market. As Head of the firm’s Commercial, Financial Services and Tax Group, Mr. Manikai has advised on significant corporate, banking, financial services, regulatory and commercial transactions. His experience extends across several jurisdictions, including Botswana, South Africa and Zambia, as well as the United Kingdom, Europe, the United States of America, China, Hong Kong and Korea.

Mrs Emma Fundira

Emma Fundira was born in Lusaka, Zambia and was educated in England. She holds a Bachelor of Science in Economics (Honours) Degree from the University of Zimbabwe. She has worked as an Assistant Lecturer in Economics and has worked as a Project Finance Manager and Corporate Finance Manager with Standard Chartered Merchant Bank. She worked for Standard Chartered Merchant Bank and then Barclays Bank of Zimbabwe Limited where she was a co-founder of the Merchant Banking Division. The highlights of her career was working on the first privatisations, Dairibord and thereafter Seed Co. She was also a lead advisor in the demutualisation of Old Mutual. She rose to the rank of Director, Merchant Banking in 2001. She left Barclays Bank in 2003 to set up Finesse Advisory Services (Private) Limited, where she is a co-founder and Managing Director. Emma has also participated in the Fortune 500 Women in Leadership Programme in the United States of America. She is also a recipient in the Banking and Finance Category of the Women in Enterprise Awards of the Zimbabwe National Chamber of Commerce (ZNCC).

Directorships

Current

• Managing Director of Finesse Advisory Services (Private) Limited
• Director of Reserve Bank of Zimbabwe
• Director of Delta Corporation Limited

Held Previous

• Director of Takura Ventures Board - 2000 to 2003
• Director of United Touring Group - 2003 to 2004
• Director and Chairperson of Caps Holdings Limited - 2003 to 2005
• Board of Governors for St. John’s Preparatory School and College - 2008 to 2017
• Director of Nampak Limited - 2006 to 2019
• Director of Barclays Bank of Zimbabwe Limited - 2009 to 2018
• Director of First Capital Bank Zimbabwe - 2018 to 2019
• Trustee of Boost Fellowship - 2009 to 2020
• Chairperson of CIMAS Medical Aid Society Board - 2020 to 2025

Dr. Caleb M. Fundanga

Holder of a Zambian passport. Currently Director of the Institute for Finance and Economics in Zambia. He has served as Governor of the Bank of Zambia since March of 2002. He was appointed Governor, after serving as Senior Advisor to the President of the African Development Bank in Abidjan, Cote D’Ivoire from 1998. Dr. Fundanga further served as an Executive Director at the African Development Bank. Dr. Fundanga also served as Permanent Secretary in the Ministry of Finance for six years at Cabinet Office before finally winding up in the Office of the President as Permanent Secretary in charge of the National Commission for Development Planning. Some of his achievements include the Banker Magazine Award of “Central Banker of the Year – Global and Africa” at the beginning of 2007, as well as the Emerging Markets Magazine Award of “Central Banker of the Year 2007”, bestowed in September, 2007 in Washington DC. He was also awarded the “Central banker of the Year 2008” by the Annual Meetings Daily Magazine. Dr. Fundanga is currently Alternate Governor of the IMF Board of Governors. Further, he is a Member of the African Export and Import Bank Board and Executive Committee. He also serves as Board member and Vice Chairman of the Zambia Revenue Authority. He is currently the Chairman of the Junior Achievement Zambia Board and is also served as Chairperson of the Programmes Committee of the African Research Consortium.

Ms Belinda Muswaka

Belinda is a seasoned Chartered Accountant and Registered Public Auditor, with over 24 years of extensive experience in finance, business leadership, and corporate governance across both the public and private sectors. She trained with one of the Big Four audit firms, where she progressed to the position of Associate Director. During her tenure, she also served as Head of Markets and Business Development for the Central Africa business, with oversight responsibilities covering Zimbabwe, Zambia, and Malawi. Belinda later transitioned into industry, serving as Finance Director for Transerv, one of Zimbabwe’s largest automotive companies, where she played a key role in financial leadership and strategic management. She is the Founder and Managing Partner of Belta Chartered Accountants, an audit and advisory firm providing professional assurance, accounting, and business advisory services. Over the years, Belinda has served on several boards in both the public and private sectors, contributing significantly through her expertise in finance, governance, risk management, and internal controls. She has held various leadership roles, particularly within Audit Committees and Risk Committees. Belinda currently serves on the Audit Committee and Risk Committee of the Reserve Bank of Zimbabwe.

Prof. Jerry T. Parwada

Chartered Banker, GAICD, MCISI,  specializes in investment management and financial markets, leveraging his expertise to shape both academia and industry. A Professor of Finance at UNSW Business School in Sydney, Australia, his career has spanned over two decades. Prof. Parwada has held key leadership positions at UNSW, including Head of School - Banking and Finance and Director of Academic Strategy.  Beyond academia, he has long-standing interest in the deepening of financial systems in Australia and Africa. He served on Governing Board of the Financial Research Network of Australia. He was a member of the management and scholarship committees of the Capital Markets Cooperative Research Centre Limited and the Finsia Institutional Markets Industry Council. In the financial advice industry, he is Chair of the independent Ratings Committee for the Adviser Ratings Licensee Rating system as well as Chair of the Separately Managed Account Reporting Standard Advisory Committee. He is an independent non-executive director at the Reserve Bank of Zimbabwe where he chairs the Bank Risk, Sustainability and Compliance Committee.

Ms Kunyalala Maphisa

Kunyalala Maphisa (Kunyalala) was recently appointed CEO of the African Leadership Institute (AfLI / Tutu Fellowship).  Kunyalala was part of the inaugural 2006 AfLI cohort of the Archbishop Desmond Tutu Leadership Programme and joined the AFLI Board in 2025 before she was appointed CEO. 20 years on, AFLI has built the most influential network (Tutu Fellows) on the African continent spanning 51 countries. Kunyalala is a commercial attorney turned entrepreneur and businesswoman, with more than 20 years corporate experience, business and transaction advisory and development work. Her legal experience includes corporate finance, mergers and acquisitions and transaction advisory and she has worked in multiple African countries. She has previously practiced as an attorney in one of the largest commercial law firms in South Africa, later serving in various senior executive position including at Ernst & Young South Africa where she was Head of Emerging Markets in the Corporate Finance Unit. She founded a Johannesburg based investment and advisory firm in 2018 recently relocating to and investing in Zimbabwe where she currently lives. Kunyalala serves on the Boards of a number of companies including the Board of PPC Limited, a South African cement company listed on the Johannesburg Stock exchange and the Board of the Reserve Bank of Zimbabwe. Until recently, served on the Governing Council for the University of Capetown (UCT), and as the President of the Businesswomen’s Association of South Africa, the largest association of professional and businesswomen in South Africa. She has served in multiple bi- lateral and multi-lateral bodies and forums attending regional and international meetings including United Nations, African Union (AU) and SADC meetings in various African countries. She has travelled extensively presenting papers and speaking at conferences and meetings on various topics across the continent and internationally. Kunyalala holds a Master of Laws and a Bachelor of Laws degrees from the University of Cape Town (UCT). And a Bachelor of Arts degree (BA), in Public Policy and Industrial Relations also from UCT. In recent years she has focused her efforts on development work, using her extensive legal, commercial and business experience, to build capacity and sustainability for development institutions.

Mrs Margireta Makuwaza

Mrs Margireta Makuwaza is a seasoned economist and senior public servant currently serving as Director for Development Cooperation at Zimbabwe's Ministry of Finance, Economic Development and Investment Promotion. With a career spanning over three decades in public finance and economic governance, Mrs Makuwaza has been instrumental in mobilising international financial and technical resources for Zimbabwe's national development programmes. She has negotiated and concluded grant and loan agreements with bilateral and multilateral institutions. She previously served as Director for Domestic and International Finance, a role that encompassed policy and regulatory oversight over Zimbabwe's banking and non- banking financial sector. Mrs Makuwaza holds a Bachelor of Science in Economics (Honours) and a Master of Science in Economics, both from the University of Zimbabwe, as well as, a Post Graduate Diploma in Econometrics from the University of Uppsala, Sweden. She has undertaken advanced training in debt management, financial sector stability, capital markets, and data analytics through institutions including MEFMI, AfDB, and UNDP. She has served on the boards of the Zimbabwe Women's Microfinance Bank, CMED (Private) Limited, and the Agricultural Development Bank of Zimbabwe (AGRIBANK). Mrs Makuwaza is also a published researcher, having contributed to peer-reviewed work on population policy and women in development, and has chaired national technical committees that produced Zimbabwe's reports on the Millennium Development Goals and the International Conference on Population and Development Programme of Action.