NICO Holdings Plc is pleased to announce the appointment of Dr Kwanele Ngwenya as Deputy Group Managing Director of the NICO Group of Companies, with effect from 1 August 2026.
This appointment forms part of the Group’s long-term executive succession strategy and reflects the Board’s commitment to ensuring leadership continuity, strengthening executive capacity, and positioning the Group for sustained long-term growth.
As Deputy Group Managing Director, Dr Ngwenya will work closely with the Group Managing Director and the Board of NICO Holdings Plc in providing strategic leadership across the Group. His responsibilities will include supporting the execution of the Group’s strategic agenda, driving operational excellence, strengthening collaboration and alignment across subsidiary companies, enhancing enterprise-wide performance, and advancing the Group’s commitment to excellence, collaboration, innovation, accountability, integrity and sustainable value creation.
Prior to this appointment, Dr Ngwenya served as the Group’s Chief Operating Officer, a position he held from 1 April 2025. Before joining the Group’s Corporate Office, he served as Chief Executive Officer of NBS Bank Plc, a subsidiary of NICO Holdings Plc, for eight years, during which he led the Bank through a period of significant growth, transformation and improved market performance.
Dr Ngwenya holds doctoral and postgraduate qualifications in business and leadership and has extensive experience in corporate strategy, banking, operations, governance and organisational transformation. He is widely respected for his strategic leadership, commercial acumen and commitment to building high-performing organisations.
The Board of Directors, management and employees across the NICO Group congratulate Dr Ngwenya on his appointment and express their full confidence in his leadership. They look forward to working with him as the Group continues to strengthen its market leadership and deliver sustainable value to its shareholders, customers, employees, the communities it serves, and other stakeholders.
On behalf of the Board
Angela Kandani
Company Secretary
NICO Holdings Plc
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