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Zimbabwean woman lands top post in UK

Zimbabwean woman lands top post in UK
Ms Marjorie Ngwenya

Zimbabwean woman lands top post in UK

A Zimbabwean woman, Ms Marjorie Ngwenya, has been appointed an external member of the prestigious Prudential Regulation Committee (PRC) in the United Kingdom (UK).

This comes as Zimbabweans at home and abroad continue to raise the nation’s flag high through their achievements which have won global acclaim.

Just recently, Zimbabwe’s National High School moot team made history after being crowned champions of the world at the 2022 International Moot Court competitions.

And a Zimbabwean scientist, Dr Sikhulile Moyo, credited with the discovery of the Covid-19 Omicron variant, was recognised as one of Time magazine’s 100 most influential people in the world.

Now raising the country’s flag high, Ms Ngwenya, who previously served as president of the UK Institute and Faculty of Actuaries, is now a member of the PRC, which supervises banks, insurers, and major investment firms in the UK.

Ms Ngwenya said she was elated to be appointed as an external member of the PRC at a time it considers a number of important issues, including the Future Regulatory Framework Review and Solvency II reforms in the UK.

“I am delighted to be appointed as an external member of the Prudential Regulation Committee as it considers a number of important issues, including the Future Regulatory Framework Review and Solvency II reforms. I look forward to contributing my international financial services experience in support of the work of the Committee”.

Ms Ngwenya is a past president of the Institute and Faculty of Actuaries (IFoA) and served on its governing council for eight years.

In her executive career, she was a member of the Group Executive Committee of Liberty Group in South Africa serving as chief strategist.

Prior to that, she was chief risk officer for Old Mutual’s African operations.

Ms Ngwenya is an actuary and holds a Sloan MSc in Leadership and Strategy from the London Business School. She is also an executive coach and an advocate for diversity, equality, and inclusion.

The Prudential Regulatory Authority’s most important decisions are taken by the PRC, chaired by the Governor of the Bank of England.

Five members of the PRC are bank staff, including the governor and four deputy governors. The PRC has a majority of external members, including the chief executive of the Financial Conduct Authority.

UK chancellor of the exchequer, Mr Rishi Sunak, said Ms Ngwenya’s experience in international financial services will add value, insight, and expertise to the PRC.

Governor of the Bank of England, Mr Andrew Bailey, said he was delighted to welcome Ms Ngwenya to the PRC as she brings a wealth of experience on the insurance side and will make a valuable contribution to the work of the committee.

“Her senior leadership experience, including from her role as president of the Institute and Faculty of Actuaries (IFoA), will be invaluable for our work on the Solvency II reforms and the future regulatory framework. I look forward to working with her in the coming years,” he said.

Prior to her new appointment, Ms Ngwenya served as an independent non-executive director at Tangerine Life in Nigeria and its holding company Tangerine Financial.

She was the chairperson of the Canon Collins Trust in the UK and a trustee of the Legal Resources Centre in South Africa.

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