HARARE - Former fugitive banker, and Deputy Chairman of NMB Holdings Limited, James Mushore, who fled Zimbabwe after Dr Gideon GonoMushore, among the first indigenous Zimbabweans to open a commercial bank, had invited guests to the discussion on investing on the London Stock Exchange (LSE). He said he was now free man and could go on with his business “undisturbed”.
Top bankers, Dr Julius Makoni, William Nyemba, and Mushore, began what became known as NMB Bank Limited (NMB) which was listed on the Zimbabwe Stock Exchange (ZSE). This was the first time that black bankers had listed a commercial bank on the local bourse. NMB bank then went on to also list on the London Stock Exchange (LSE), another first for black Zimbabweans of that day when the nation’s economy was in a crisis.
After a tiff over company strategy, Nyemba, quit NMB Bank and then formed his own commercial financial institution known as Trust Bank Limited (Trust). This later became Trust Financial Holdings Limited (Trust) and also listed on the ZSE. Ironically, Nyemba also left Zimbabwe in a huff at the same time that Mushore had skipped the country. They were both accused of engaging in illegal foreign currency deals and engaging in operations not allowed by the central bank under Gono.
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