HARARE - Top banker and original Chief Executive of Trust Financial Holdings Limited (Trust), William Nyemba His financial services institution has also taken back its Trust Towers high rise building along Samora Machel Avenue which had “temporarily” been “occupied” by the hastily-formed Zimbabwe Allied Banking Group (ZABG). ZABG was formed by Reserve Bank of Zimbabwe (RBZ) Governor, Gideon Gono, after he had suspended Trust, Royal Bank and Rennaisance Financial Services Limited.
Trust was then led by Nyemba, Royal by Geoff Mzwimbi, and Rennaisance was by Mthuli Ncube. Nyemba and Mzwimbi have now been given back their commercial banks and are operating in Zimbabwe, while Ncube is still in South Africa, lecturing at a university.
Nyemba was based in South Africa after falling out with RBZ Governor Gono and the Zimbabwe Stock Exchange during the time of the Zimbabwean cash “crisis”. Trust Bank Limited, the cash cow of the financial services group, had its banking licence grabbed by the RBZ boss.
It was suspended from the ZSE and Nyemba left for South Africa where he opened another top financial services institution.
Trust has rejoined the ZSE and recently reopened its commercial bank. The tycoon was spotted having a drink at Rainbow Towers Hotel in Harare, formerly Sheraton Harare, watching the football game between Barcelona Football Club (Barca) and Real Madrid Football Club.”Yes I am back,” he said in an exclusive interview. “In fact I have been here from South Africa for some time now.”
Post published in: Economy