Madison Financial Services Confirms New CEO and Appoints Independent Director
Madison Financial Services Plc (MFS) has confirmed Mr. Chabala Mumbi as its Chief Executive Officer (CEO), effective 16 July 2025, following his tenure as Acting CEO since 30 September 2024.
Mr. Mumbi, a seasoned Chartered Management Accountant and insurance practitioner with over 19 years’ experience across Zambia and South Africa, has held senior roles at OneHealth Management Services, OneLife Assurance Zambia, and Metropolitan Life Zambia. He brings expertise in finance, underwriting, risk management, strategic planning, and business growth.
The company has also announced the appointment of Mr. Jeremiah Soko as an Independent Non-Executive Director, effective 16 July 2025. Mr. Soko, with over two decades of experience in finance, corporate strategy, and regional operations, currently serves as Group Regional General Manager for Southern and East Africa, and Ghana at MTN Group, overseeing multiple markets including Zambia, Uganda, Kenya, and Ghana.
The appointments follow the retirement of Dr. Lawrence Samva Sikutwa from the board, effective 22 August 2025. The board expressed gratitude to Dr. Sikutwa for his contribution and welcomed Mr. Mumbi and Mr. Soko in their new roles, emphasising their potential to drive strategic growth and operational excellence at MFS.
