Tsumba replaces prominent businessman, and former TA Holdings Limited (TA) Chairman, Timothy Chinganze.
DHZL said this was in line with the process of succsession underpinned in its Corporate Governance Manuel.
"Mr Timothy Chiganze retired from the Board on June 28, 2012 having served his full tem in office," the Board said.
"Mr Chiganze served the company with distinction for 14 years, seven of which were as Chairman.
"The Board wishes to thank Mr Chiganze for his illustrious contribution as a member as well as Chairman of the Board."
The DZHL Board said they were happy Dr Tsumba would now hold the fort at the blue chip counter which is listed on the Zimbabwe Stock Exchange (ZSE).
DHZL is currently led by Anthony Mandiwanza and has subsidiaries such as Lyons Zimbabwe (Private) Limited, and Dairibord Zimbabwe (Private) Limited.
It also has a subsidiary in Malawi. Dr Tsumba is a reknowned banker and respected businessman. He served as RBZ Governor from 1993 to 2003.
Dr Tsumba has extensive experience in the public and private sectors, both locally and internationally.
He is currently Chairman of CABS Holdings Zimbabwe Limited, the country's largest building society, a subsidiary of the giant Old Mutual Holdings Limited (Old Mutual) which is based in South Africa.
Dr Tsumba also sits on the Boards of other several ZSE-listed entities.
"The DHZL Board congratulates Dr Tsumba on his appointment and wishes him success during his tenure in office," DHZL said.
DZHL has a market capitalisation of $348,467,858 on the ZSE. Its share price currently stands at 16 cents each.
Post published in: News