Vumbukani leaves Standard Bank

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Bereng Mpaki

THE chief executive officer of standard Lesotho Bank (SLB) Mpho Vumbukani, has resigned, the bank’s board announced this week.

Mr Vumbukani resigns after eight years having become the first Mosotho in that position.

The statement, however, did not provide the reasons for Mr Vumbukani’s resignation.

“The Standard Lesotho Bank chairperson and board of directors wish to inform all shareholders and stakeholders that the Chief Executive of the bank, Mpho Vumbukani has resigned effective from 30 September 2019,” the statement said.

“Mr Vumbukani joined the bank on 1 January 2011 becoming the first Mosotho to be appointed in this position. During his illustrious career at the bank, he provided leadership that was able to position Standard Lesotho Bank as the leading bank in Lesotho.

“The board and executive management sincerely wish to convey their gratitude for the contribution that Mr Vumbukani has made while steering the bank to grow from strength to strength.

“The board also wishes to express its appreciation to the customers, the regulator, shareholders and other stakeholders for their unwavering support to the chief executive during his tenure. The board, management and staff accordingly wish Mr Vumbukani the best of luck in his future endeavors.”

Before joining SLB, Mr Vumbukani worked as the managing director of Lesotho PostBank from 2004 to 2010, leading the bank from inception to a well-established entity in the market.

He also worked at the Central Bank of Lesotho (CBL) from 2000 to 2004, analysing prudential returns in order to assess banks financial soundness and compliance to regulatory requirements.

He was also tasked with evaluating financial institutions’ applications for licensing and maintaining a sound offsite surveillance system on risks inherent in banks and advising management of such risks.

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