I&M Bank picks new CEO

THE Board of I&M Bank (Tanzania) Limited has appointed Mr Zahid Mustafa as its new Chief Executive Officer to succeed Mr Baseer Mohammed in a bid to spearhead the bank’s digitally-led growth strategy.

The appointment of Mr Mustafa who is an experienced banker with over 27 years in the industry with a strong track record of business development and growth has been approved by the Bank of Tanzania (BoT).

Mr Mustafa has worked in multiple geographies, including in Asia, the Middle East, and Africa.  He started his banking career with Citigroup where he worked in Global Consumer Banking for over 11 years.

Subsequently, he worked with Barclays Bank in the Middle East and Africa where over 12 years he held several senior positions in Retail and Business Banking across multiple countries and regions; he went on to lead the Retail Banking Business for Absa outside of South Africa.

Before joining I&M Bank Tanzania, he led a business turnaround for The Bank of Punjab, a large public sector bank in Pakistan. Mr Mustafa has demonstrated strong leadership and business skills, with an emphasis on retail, digital, and business banking.

He nurtures a culture of innovation, customer-centricity, and teamwork. As such he is well positioned to successfully drive the I&M Group’s strategic aspirations in Tanzania to the next level.

The Group Executive Director, I&M Group and Chairman of I&M Bank (Tanzania) Limited, Mr Sarit Raja Shah said while welcoming Mr Mustafa;“The appointment of our new CEO will ensure that the Tanzanian business will continue to contribute strongly to the Group’s aspiration to become Eastern Africa’s leading financial partner for growth.

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