From Harare to London: Bard Santner Microfinance Bank Unveils International Board

Bard Santner Microfinance Bank has announced a 13-member board comprising financial experts from Zimbabwe, South Africa, Mauritius, India and the United Kingdom, as the institution positions itself to attract business from Zimbabweans living abroad and tap into the lucrative remittance market.

The announcement follows the bank’s launch last week and comes as financial institutions face growing pressure to strengthen corporate governance, maintain regulatory compliance and protect customers’ deposits.

The newly appointed board brings together professionals with backgrounds in banking, auditing, financial regulation, corporate law and business management. The institution hopes their combined experience will help establish sound oversight and strengthen public confidence in its operations.

Zimbabwe’s financial sector has experienced periods of instability, with banking failures, poor corporate governance and economic turbulence resulting in losses for customers. Against this background, effective risk management and accountability will be important as the new institution develops its services.

The board is chaired by Vinod Bussawah, a Fellow of the Association of Chartered Certified Accountants who has more than three decades of experience in finance and corporate governance. He also chairs audit committees at two listed companies.

Independent directors include Roger Bennett, Scott Trimble, Brad Shorkend, Peter Wood, Dr Roshan Boodhoo, Niazi Hoolash and Monika Bhatt.

Senziwani Sikhosana, Tatenda Hungwe and Lucia Chingwaru will serve as non-executive directors, while Ngonidzashe Chikowore and Givemore Gomo take up executive positions as managing director and finance director, respectively.

Several board members bring extensive international experience to the institution.

Boodhoo previously served as chief executive of the Financial Services Commission of Mauritius and deputy chief executive of SBM Group. He also serves on the board of a company listed on Nasdaq.

Trimble has held senior management and board positions at organisations including HSBC, HBOS, Grant Thornton, Moore Global and the Isle of Man financial regulator. He received the UK Anti-Money Laundering Advisor of the Year award in 2022 and 2023.

Bennett has spent four decades working in banking and trust services, including positions at Lloyds Bank, Canada Trust and CIBC. He also founded Fortress Management Services in the Isle of Man.

Hoolash, who previously worked as an associate director at KPMG and a senior manager at PwC, has experience in commercial bank restructuring undertaken under central bank mandates.

Shorkend is an adjunct faculty member at the Gordon Institute of Business Science and Duke Corporate Education. His work also involves advising leadership teams across Europe, the United States, Asia, the Middle East and Africa.

Bhatt specialises in corporate law and governance in her work as a practising company secretary.

The board also includes local banking expertise through Wood, the former chairman of BancABC Zimbabwe, alongside professionals associated with the founding of Bard Santner Inc.

Sikhosana, Hungwe and Chingwaru are expected to contribute to the institution’s strategic direction in their non-executive roles, while Chikowore and Gomo will oversee management and financial operations.

Sikhosana, who has substantial experience in Zimbabwe’s banking and financial services industry, is the group’s chief executive. He was recently named the 2026 Director of the Year by the Institute of Directors Zimbabwe.

Bussawah said the board’s primary responsibility would be to safeguard customers’ money and ensure that the institution operated according to recognised standards.

“Our job as a board is simple: to protect depositors’ money and to make sure the bank is run to international standards.”

Chikowore said the institution was seeking to establish a financial services platform that customers could rely on, drawing on expertise from both Zimbabwe and international markets.

“Zimbabweans deserve a new fintech institution they can trust. That is why we brought together experts with great track records, locally, regionally and internationally, alongside people who know this market well, to build a new diaspora-focused institution from scratch.

“We want to lay a strong foundation, ensure corporate governance and protect depositors’ funds from the word go.”

Sikhosana emphasised that customer confidence depended on consistent service, transparency and the protection of personal and financial information.

“Banks are founded on trust.

“Trust in banking is gradually earned through customer-centred, efficient and consistent service, security and transparency. Trust, together with confidence and accountability, becomes the nerve centre of banking.

“This entails a deep responsibility to protect depositors’ funds, confidentiality and data.

“When customers choose a bank, they are not just choosing a name or brand; they are entering a confidential relationship built on the legitimate expectation of the safety of their funds, the confidentiality of their information and ethical behaviour.”

Bard Santner’s focus on governance comes at a time when digital technology is reshaping financial services and creating new ways for customers to transfer money and access banking products across borders.

The institution intends to connect Zimbabweans living abroad, particularly in countries such as South Africa, the United Kingdom and the United States, with local small and medium-sized enterprises and investment opportunities.

Such an approach will require effective systems for managing cross-border transactions, verifying customers’ identities and preventing money laundering. Strong internal controls and compliance procedures will also be important in maintaining relationships with international correspondent banks.

The inclusion of independent directors is intended to strengthen oversight by separating board supervision from day-to-day executive management. This can help ensure that business expansion is supported by appropriate auditing, risk management and accountability mechanisms.

The bank’s longer-term ambitions include directing a portion of the region’s substantial remittance flows towards structured investment opportunities. Achieving that goal will depend on its ability to build customer confidence, comply with regulatory requirements and demonstrate that depositors’ funds are being managed responsibly.

As Bard Santner develops its digital-first model, the experience represented on its board will be tested by its ability to translate governance commitments into reliable services and sustainable financial performance.