Dr Kwanele Ngwenya, a distinguished alumnus of The DaVinci Institute, has taken on a transformative new role, he is now the Group Chief Operating Officer of Nico Holdings PLC. This marks a powerful new chapter in a career defined by excellence, purpose, and a relentless drive to elevate Africa’s financial systems.
Announcing the news on LinkedIn, Dr Ngwenya expressed his gratitude and humility:
“So it came to pass that I’ve recently moved into my next assignment, as the newly appointed Group Chief Operating Officer of Nico Holdings PLC – a position I’ve accepted with great gratitude and humility, and for which I’m deeply honoured to have been chosen.
It’s a step towards further development in my career, as learning continues and new lessons further enhance my life and purpose. At this stage, I can’t say I’ve reached the pinnacle, but I am certainly and continuously heading towards becoming a better leader and contributor. Really, this journey never ends.
I’m grateful to those who trust in my abilities and will certainly make both myself and them proud to have appointed me, as I look forward to making a meaningful, lasting impact in this role.
Thanks for the support from colleagues, associates, friends, and (crucially) my family for their sustained patience, love, and care.
The journey continues.”
A Leader of Impact and Innovation
Dr Ngwenya’s appointment is the continuation of an exceptional leadership journey. Until recently, he served as the Chief Executive Officer of NBS Bank, where he earned widespread respect for his transformational leadership. His work led to him being honoured with a 2024 Today’s Africa Award, a fitting recognition of his contributions to financial inclusion and banking innovation.
Under his guidance, NBS Bank introduced the Pafupi Savings and Agent Banking solutions—groundbreaking services designed to empower communities traditionally excluded from formal financial systems. His leadership has been instrumental in broadening access and creating sustainable change.
Academic Excellence Meets Practical Impact
A committed scholar-practitioner, Dr Ngwenya recently completed his Doctor of Management in Technology and Innovation at The DaVinci Institute. His thesis, titled An Effect Analysis Study of Financial Inclusion in Malawi: A Case Study of the NBS Pafupi Savings and Agent Banking, reflects a rare blend of academic rigour and real-world application.
His study explored the barriers marginalised populations face in accessing banking services and how inclusive financial models can make a difference. Dr Ngwenya exemplifies how knowledge, when paired with empathy and vision, can reshape communities.
From Nedbank to the Continent
With over 25 years in banking, including 14 years in executive roles—Dr Ngwenya has held key positions across South Af
rica, Botswana, Zimbabwe, and Malawi. His journey began at Nedbank, followed by an 11-year tenure at FNB, before taking on leadership roles at NBS Bank and now, Nico Holdings.
In addition to his executive responsibilities, he serves on the Board of NICO Technologies and holds an advisory position with the Centre of Agricultural Transformation – testament to his broad influence across finance and development sectors.
A Lifelong Learner and Chartered Banker
Dr Ngwenya’s academic portfolio includes three master’s degrees from top UK universities, Oxford Brookes, Derby, and Bangor University – as well as Chartered Banker status from the Institute of Bankers in Scotland. He has also completed advanced programmes at Wits and GIBS Business School, consistently sharpening his leadership edge.
The Journey Continues
As Dr Ngwenya steps into his new role at Nico Holdings, he carries with him not just a legacy of results, but a vision rooted in integrity, excellence, and transformation. His journey is far from over -in fact, it’s only gaining momentum.
Congratulations to Dr Kwanele Ngwenya – a visionary leader, accomplished scholar, and proud DaVinci alumnus. Africa is rising, and with leaders like you, the future is indeed luminous.