Kapumpe Chola has made history as the first woman to be appointed Chief Executive Officer of First National Bank (FNB) Zambia Limited. This landmark achievement marks a significant milestone for the southern African bank and Ms Chola, a seasoned professional with extensive experience in the banking sector across Zambia and Botswana.
Chola’s illustrious career began after completing her education, where she quickly rose through the ranks at major financial institutions. She has held pivotal leadership roles at Barclays, Standard Chartered, and RMB, showcasing her expertise and dedication in each position.
Her tenure at Barclays saw her develop robust strategies that enhanced customer engagement and financial performance. At Standard Chartered, Chola was instrumental in driving digital transformation initiatives, significantly improving operational efficiency and customer satisfaction. Her strategic vision and leadership at RMB further solidified her reputation as a formidable force in the financial sector, where she played a key role in expanding the bank’s market presence and fostering innovation.
Reflecting on her career journey, Chola emphasises the importance of diversity and inclusion, drawing from her experiences working in over 15 different markets. “The mix of nationalities in our group helped me to learn and appreciate diversity in culture and thinking, which greatly helped in my career because I was able to effectively work, and thrive, in various markets,” she remarked.
Chola’s appointment as CEO of FNB Zambia is part of a broader trend of increasing female leadership in Zambia’s corporate sector. She joins the ranks of other trailblazing women, such as CitiBank Zambia CEO Lowani Chibesakunda and Zambia National Commercial Bank CEO Mukwandi Chibesakunda, who are redefining leadership roles in the financial industry.
“The bank’s vision is to create a better world and my goal is to lead the organisation into growth that is transformational for our clients and the communities we operate in,” Chola stated. “I am a firm believer in small and medium enterprises having a more meaningful impact on the broader economy, so my vision is for the bank to become a leading financier to this sector by exponentially multiplying our asset base.”
Chola takes the helm at FNB Zambia at a pivotal time for the African financial sector. With the continent poised to become the fastest-growing region for fintech revenue, the future looks promising. A Boston Consulting Group report projects the African fintech market will be worth approximately $65 billion by 2030. Chola is optimistic about the role of fintech and AI in shaping the future of banking, highlighting the importance of partnerships and interoperability in credit extension and payments.
In a rapidly evolving business landscape, Chola underscores the need for businesses to prioritise convenience and sustainability. She also foresees the significant impact of climate change and ESG considerations on business operations.
Reflecting on her journey, Chola offers sage advice to those beginning their careers: “My top of the mind advice will be to have humility and authenticity. Your attitude towards work and relations with those that you work with will always take you to the next level. Don’t be afraid to step up and fail forward because it is only through this process that you will learn and grow.”
Kapumpe Chola’s historic appointment is a beacon of progress and inspiration, paving the way for more women to ascend to leadership roles in the corporate world.
