I&M Bank (Tanzania) Limited, has appointed Zahid Mustafa as its new Chief Executive Officer and duly approved by the Central Bank of Tanzania. Mustafa succeeds Baseer Mohammed and will spearhead the Bank’s digitally-led growth strategy.
Zahid is an experienced banker, with over 27 years in the industry and a strong track record of business development and growth. He 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 a 12-year period he held a number of 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. Prior to joining
I&M Bank Tanzania, he led a business turnaround for The Bank of Punjab, a large public sector bank in Pakistan.
Zahid 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.
Welcoming Zahid, Sarit Raja Shah, Group Executive Director, I&M Group and Chairman of I&M Bank (Tanzania) Limited, said, “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. Zahid joins at a time when the Bank is pursuing a digital-led growth agenda and we believe that he will drive the Bank’s business to new heights in a sustainable manner.”
Shah further added, “I believe that the new CEO will steer the Tanzania operations to deliver customer-centric financial solutions and to boost investor confidence in the market, on the back of our robust iMara 2.0 corporate strategy.
