Mildred Mutesa is a mother, wife, sister and friend who works as the Managing Director of the Zambia National Building Society. She holds an MBA from Edinburgh Business School – Heriot-Watt University, as well as an accountancy degree from The Copperbelt University. A true definition of beauty with brains, a warrior, a dreamer, and an example to young girls that they too can be anything they want to be!
She has over 13 years of experience working in a variety of industries, including audit assurance services, manufacturing, and financial services. She has worked as a Director Finance and Company Secretary for Afrox Zambia Limited (Zambia’s major gas manufacturer), as a Senior Auditor for PricewaterhouseCoopers (PwC), and as the Managing Director of the Zambia National Building Society.
Financial accounting and reporting, external audit, corporate strategic planning, asset and liability management, and treasury management are all areas in which she has worked. She is currently a member of the Zambia Institute of Chartered Accountants’ Finance and Investments Committee of the Board of the National Prosecution Authority.
Since her humble beginnings as an intern at the Bank of Zambia (BoZ) about 20 years ago, her professional career has straddled the private and public sectors.
In September 2020, after a nine-month wait for the confirmation of a CEO, The Zambia National Building Society’s Interim Board announced the appointment of Chartered Accountant, Mildred Mutesa, as Chief Executive Officer. This followed the exit of Joseph Chikolwa on 3rd January 2020.
In the same year, she was appointed to the Board of Directors of the African Union for Housing Finance (AUHF) at the just-ended African Union for Affordable Housing Finance (AUHF) virtual Annual General Meeting (AGM) held on 5th November 2020 under the theme: “Investing in the Sustainable Development Goals (SDGs): Finding a market opportunity in affordable housing”. Her election means that ZNBS retains its seat on the AUHF Board of Directors.
Mildred came to ZNBS with a career path that illuminated an ascension to CEO. A diagnosis of her LinkedIn profile shows a candidate for the role that was prepared for risk management, understood internal and external audit requirements, was ready to sit at the high table of the board understanding what their interests were, and ability to interpret financial statements which is an important skill for anyone who seeks to lead a financial institution.
Mildred Mutesa has been restructuring and modernizing the society into a contemporary society since gaining office prior to ZNBS celebrating its Jubilee. David Nama signaled in his speech at the press briefing a few months ago that the board would focus on affordable housing and digitization as part of their strategy, this is when ZNBS handed its K8 million dividend cheque to Finance Minister Situmbeko Musokotwane on the 9th of September 2021, becoming the first company from the GRZ portfolio of parastatals to do so under the new administration. Mr. Nama also spoke honestly about ZNBS’s evolution, saying that the mortgage firm would be turning to technology and innovation to improve its product offering, which has seen it expand into high-street retail banking.
The fact that the dividend was paid demonstrates that Mildred is on a positive path for society.
Additionally, She initiated and spearheaded the largest capital raising programme for the Society through the African Development Bank (AfDB). That success stands among her other notable career achievements.
Mildred Mutesa is a strategy-minded CEO, this is further expressed in a statement that she gave to ZICA for their magazine recently , “My work experience not only includes spearheading the strategic planning process, the annual budgeting process, risk management and corporate finance, but also assets and liability management, which is key to any financial institution,” she explained.
When asked, “What motivates you?” in a phone conversation with Financial Insight’s Founder on October 4, 2020, “Passion to succeed!” Mildred Mutesa exclaimed. She described herself as a flexible leader who was not afraid to shift course if a tactic failed.
Nearly two decades ago, the people in Mildred Mutesa’s life would not have figured she would be the influential accountant and Managing director she is today. A testament on how dreams do come true!
And plainly, her devotion has yielded excellent benefits for her, the society, and, as a result, the country. We wish her continued success in the years ahead and to continue to be a role model for young females who look up to her.
The Zambia National Building Society (ZNBS) was established by the Government of the Republic of Zambia on 24th December, 1970 under the Building Societies Act of 1968. The Society was formed with the mandate of mobilizing financial resources to invest in mortgages with the aim of increasing the country’s housing stock. In addition to property financing, ZNBS also provides Banking services across the country. The Society also provides office space to individuals and companies mainly in properties along the line of rail.