In a statement, the financial institution's board chairman Mr Bernard Chidzero said the appointment of Mr Mashavave is with effect from February 10, this year.
"The Steward Bank board of directors is pleased to announce the appointment of its new chief executive officer Mr Courage Mashavave, who takes over from the acting chief executive officer Mr Krison Chirairo, effective 10 February 2020," he said.
Mr Chidzero said their new chief executive officer was an accomplished financial services practitioner having been in the industry for more than 15 years and held various positions in retail, corporate and investment banking.
"He brings a wealth of experience in corporate and structured finance, treasury and portfolio management, private banking and management of investment funds," said Mr Chidzero.
Mr Mashavave is a fellow of the Association of Chartered Certified Accountants and holds a Masters in Business Administration majoring in finance from the University of Zimbabwe. He is also a member of the Institute of Directors in South Africa. Prior to his appointment, Mr Mashavave was the chief executive officer of TN Asset Management.
Mr Chidzero was quoted as saying: "The board has confidence in Courage and his ability to lead the bank to even greater success. He has our full support."
Meanwhile, the financial institution has registered more than one million clients through its digital account opening platform launched in December 2018 with 536 000 microloans having been digitally disbursed. The platform has been instrumental in driving the institution's mandate towards financial inclusion of Zimbabweans.
Over the years, the bank, which has close to two million account holders has highlighted its commitment to investing in digital systems to enhance customer experience and service delivery and targets to have fully implemented its Core Banking System and Infrastructure project in the third quarter of next year.
