MMI Holdings Namibia is pleased to announce the appointment of Mr. Sakaria Nghikembua as the new Chairperson, with effect from 11 June 2019. Mr. Nghikembua joined MMI Holdings Namibia Board of Directors as an Independent Director on 1 February 2017 and also serves as the Chairman of the Momentum Short Term Insurance Board of Directors, a subsidiary of MMI Holdings Namibia. In addition to the MMI Holdings Namibia Group directorships, Nghikembua also serves as chairperson of the Africa Leadership Institute (ALI). His previous directorships include serving as chairperson of lending company Old Mutual Finance, chairperson of Namibia Motors and as a director of the Old Mutual Short-term Insurance Company.
As a seasoned business leader with an impressive academic record and vast industry knowledge predominantly in the financial service sector, the board is confident that he is indeed the best suited candidate for this new role.
He holds a Bachelor of Economics degree from the University of Namibia and a Master of Science degree in Financial Economics from the University of London; and has completed an Executive Development Programme (EDP) with the University of Cape Town. In addition, he completed various Strategy and Leadership courses from the University of Wits (SA), INSEAD in France and the Old Mutual Business School (SA).
Regarded as a highly effective business leader, Mr. Nghikembua previously led the transformation of Namibia Post Ltd as its Chief Executive Officer and was instrumental in helping the company grow. He also served as Chief Executive Officer of Operations at Old Mutual in Namibia and as Managing Director of Old Mutual Short-term Insurance Company (Namibia) Ltd.
In this role, he led the successful integration of the former Mutual and Federal Insurance Company of Namibia Ltd into Old Mutual Holdings (Namibia). Mr. Nghikembua has been in executive leadership roles for the past 18 years and is also currently the CEO of the Agricultural bank of Namibia since 1 August 2016. “Sakaria brings his broad technical background and proven boardroom leadership experience to the role of Chairperson of MMI Holdings Namibia Board of Directors,” said Grant Marais, Group CEO of MMI Holdings Namibia.
Commenting on his appointment Nghikembua stated that he is honoured to be of service to his country, adding ‘this is just another way for me to serve. MMI helps Namibians to create wealth and secure their future. It also provides protection for Namibians. Overall, our role is to improve the financial wellness of Namibians through life cover, savings and investments, pension funds management, health care administration and the general insurance of our clients’ assets. We employ people, pay tax(es) and help other businesses to grow through various linkages with MMI. I feel honoured to be of further service to my country and its people in this way’.
Nghikembua was born at Edundja in northern Namibia.
The board and management of Momentum Metropolitan wish Mr. Nghikembua all the best in his new role as Chairperson of the holdings company.
About MMI Holdings Namibia:
MMI Holdings Namibia consists of Momentum, Metropolitan, Namibia, Momentum Asset Management, Momentum Short-Term Insurance and Methealth Namibia Administrators.
Metropolitan provides life assurance, investment and saving needs, to the retail market, while Momentum’s offering consists of employee benefits, retirement benefits solutions, life assurance, savings and investment products and short term insurance to the corporate and affluent markets.
Methealth Namibia administrators provides healthcare fund administration.
MMI Holdings Namibia has over 1000 employees across the group situated in all regions. The combined businesses have given us greater market penetration, increased scale as well as a stronger capital base and human resources capacity.