Deposit Protection Corporation Zimbabwe | Protecting Your Deposits.

DEPOSIT PROTECTION CORPORATION

Protecting Your Deposits

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Executive Directors

Vusilizwe Vuma | Deposit Protection Corporation Zimbabwe Legal Counsel and Corporate Secretary

Mr. Vusi Vuma

Chief Executive Officer

 

Mr Vusilizwe Vuma was appointed Chief Executive Officer of the Deposit Protection Corporation (DPC) in July 2019.  He is a highly qualified executive with more than 28 years of commercial legal experience, 18 of which have been in the financial services sector.  He has comprehensive knowledge of deposit insurance and broad knowledge of the financial services’ regulatory environment.  Mr Vuma is one of the three Directors that pioneered Deposit Protection Corporation in 2003.

 

On the 2nd of March 2021, Mr Vuma was elected Vice-Chairman of the International Association of Deposit Insurers, Africa Regional Committee (IADI-ARC). He serves in various IADI Committees that include Training and Technical Assistance Council Committee (TTAC), Member Relations Council Committee (MRC), Strategic Planning Working Group  (and its fee sub-group) and the Capacity Building Technical Committee (CBTC). He also served as the Ad-hoc Chairperson of the Committee that oversaw the Establishment of the School of Deposit Insurance for Africa, which is based in Nigeria.

 

Mr Vuma currently sits on the Board of the Zimbabwe Asset Management Corporation (Pvt) Limited (ZAMCO), which was established by the Reserve Bank of Zimbabwe in July 2014.

 

Before joining the DPC in 2003, Mr Vuma held various senior positions in the business sector which included the following, among others: Director Corporate Services of Zimbabwe Posts (Pvt) Ltd;  Magistrate in Bulawayo; Legal Practitioner at Ben Baron and Partners in Bulawayo; Senior Legal Advisor at Bulawayo City Council; founding Board Member of Southern Africa Postal Operators Association (SAPOA), an institution under the SADC auspices; Sub-Regional Co-ordinator of the Pan African Postal Union Mail Circulation Taskforce; Co-Chair of the Technical Co-operation Project Team 1 Postal Operation Council-Universal Postal Union; Chairman of the DPC Pension Fund Trustees; Chairman of the ZIFA Electoral Committee and Chairman of the Premier Soccer League Disciplinary Committee.

 

Mr Vuma is a member of the Law Society of Zimbabwe and the Institute of Directors Zimbabwe.

 

Mike Chingosho | Deposit Protection Corporation Zimbabwe Finance and Administration Director

Mr. Mike M. Chingosho

Finance & Administration Director

 

Mr Mike Chingosho is one of the founding members of the Deposit Protection Corporation. He joined the Corporation in 2003 only two days after it had started operating, joining its Chief Executive Officer, Mr John Chikura. Mr Chingosho is the Corporation’s Finance and Administration Director. He is responsible for co-ordinating the strategic planning process of the organisation, budgeting and budgetary control, financial reporting, Human Resources and ICT. In addition, he co-ordinates the preparation of the Corporation’s annual report. He has three functional managers reporting to him.

 

Before joining the Deposit Protection Corporation, Mr Chingosho was the Chief Finance Officer at Lafarge Cement Zimbabwe. He has also  held senior positions in the Treasury and Finance Departments with The Zimbabwe Development Bank (now Infrastructure Development Bank of Zimbabwe), Zimbabwe Electricity Supply Authority and The Zimbabwe Republic Police (ZRP).

 

Apart from his Chartered Secretary qualification with the Institute of Chartered Secretaries in Zimbabwe (ICSAZ), Mr Chingosho holds a Bachelor of Accountancy Degree from the University of Zimbabwe and a Master of Business Leadership Degree from the University of South Africa (UNISA). He is currently pursuing a doctorate in Business Administration with a reputable international university.

Gift Chirozva | Deposit Protection Corporation Zimbabwe Business Operations Director

Mr. Gift Chirozva

Business Operations Director

 

Mr. Chirozva has over 20 years practical central banking experience having been a Chief Bank Examiner in the Reserve Bank of Zimbabwe’s (RBZ) Bank Licensing, Supervision & Surveillance Division (BLSS). Prior to joining BLSS, Gift briefly worked for the Ministry of Finance’s then Department of Taxes (now ZIMRA) as a Tax Assessor. He subsequently worked for the RBZ’s Exchange Control as an Assessor and later joined the Foreign Banking Department.

 

Gift is also a former Part-time Lecturer on Management of Financial Institutions at the University of Zimbabwe (2002 to 2004). Gift has been engaged by such regional organisations as the Common Market for Eastern and Southern Africa (COMESA), Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI), East Afritac, and the KPMG Risk Management in Finance/Banking (RMIF/B) programme to mentor specialists in advanced fields of prudential supervision including risk-based supervision, risk management, macro-prudential supervision, problem bank resolution, consolidated supervision, microfinance, and more recently financial stability assessments.

 

His interests in applied research and capacity building led to the development and adoption of the COMESA Framework for Financial Stability Assessment and several prudential guidelines for the Reserve Bank of Zimbabwe.

Kiitu Zawanda | Deposit Protection Corporation Zimbabwe Corporate Secretary/Legal Counsel

Ms Kiitu Zawanda

Corporate Secretary/Legal Counsel

 

Kiitu is a savvy Business Executive with experience earned from various positions held in the business world. She has extensive exposure in the financial services sector where she has been an active contributor in policy making and implementation.

 

Kiitu began her career as a Legal Officer at the Zimbabwe Women Lawyers Association (ZWLA), a civil society organisation that provided free legal aid services to vulnerable women. She is currently an active member of ZWLA where she mentors young female lawyers and offers limited legal services to vulnerable women on a voluntary basis.

 

Between 2012 and 2016, Kiitu was the Group Chief Executive Officer of Kingstons Holdings (Pvt) Limited wherein she gained experience in business strategy, commercial litigation, broadcasting and media business law. Kiitu sat on the Board of Directors of Post Properties (Pvt) Limited, a strategic business unit of Zimbabwe Posts (Pvt) Ltd. She served as Chairperson of the Human Resources Committee thereon.  From 2016 up to the time that she joined the DPC on the 2nd of January 2020, she was the Corporate Secretary and Legal Counsel of Metbank Limited. While at Metbank Limited, Kiitu also held the position of Secretary of the Bankers Association of Zimbabwe (BAZ) Legal Committee, a position that brought her to the fore dealing with legal issues that affect the financial services sector in Zimbabwe.

 

She is passionate about the financial services sector, financial inclusion and the empowerment of young professionals. She is registered at the High Court of Zimbabwe as a legal practitioner and is a member of the Law Society of Zimbabwe.

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