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The ACIFMA Tanzania Advisory Council comprises of three members bringing valuable expertise, experience, and appreciation of matters within their specialisms and regions, and will advise the Committee on matters of strategy, implementation and stakeholder management, with the aim of enhancing the organization’s operations, reputation and impact in the financial markets in Tanzania.
Geofrey Daniel Mchangila is the first-ever Tanzanian to lead Citibank-Tanzania as Chief Executive Officer. Prior to his appointment as Citibank Tanzania CEO, Mr. Mchangila was the treasurer and Markets Head responsible for Citi Zambia and Citi Tanzania. With more than 20 years of banking and financial services experience across East Africa, Mr. Mchangila brings a strong reputation and proven leadership built over 18 years in the banking sector.
Mr. Mchangila first joined Citi in 2004 as a trader in Fixed Income, Currencies. and Commodities (FICC) in Tanzania. He went on to hold a number of senior positions at Citi, including Head of Trading for Citi Kenya, Markets Head for Citi Tanzania, and Treasurer and Markets Head responsible for Citi Zambia and Citi Tanzania. Prior to joining Citibank, Mr. Mchangila worked with NMB Bank Plc Tanzania in its Microfinance and Treasury Departments.
Mr. Mchangila is a governing council member of the Tanzania Bankers Association (TBA) and also the President of the American Chambers of Commerce Tanzania (Amcham TZ). He holds MSc in Finance from Strathclyde University, Glasgow, Scotland.
Judith Ndissi has served the Bank of Tanzania – Central Bank for 38 years in different roles, most notably as Director – Financial Markets. Mrs. Ndissi’s major areas of focus included Monetary Policy, Foreign Reserves Management, and Management of Credit Guarantee Schemes.
During her tenure in financial markets, she facilitated the setting up of the financial markets function in the Bank of Tanzania, followed by the introduction of different market instruments such as Treasury Bills, Treasury Bonds, and Repurchase Agreements. She facilitated the introduction of different systems such as the Government Securities System which is an elected web-based system ( unprecedented in the EAC region) with an auction module and a central depository module. Other systems include the Treasury Management system for Reserves Management. She designed the Reserve Management Investment Policy and Guidelines for the Bank of Tanzania and for the Pensions Sector in Tanzania.
Following the GFC, she spearheaded efforts towards diversification of foreign reserves investments into Emerging Market currencies. She assisted commercial banks to trade on the Reuters system for Interbank Foreign Exchange transactions. She also designed a tailor-made Repurchase Agreement for Repo operations in Tanzania. Mrs. Ndissi made efforts aimed at obtaining a sovereign rating for Tanzania and eventual access to the international capital markets for sovereign bond issuance. She initiated a concept paper on the setting up of the Sovereign Wealth Fund in view of the discovery of natural gas in Tanzania.
Mrs. Ndissi served on various occasions as a consultant for Macro Economic and Financial Management Institute based in Harare. She chaired different Financial markets committees under the SADC and EAC groupings. She also chaired the Market Leaders Forum in Tanzania and conducted sensitization seminars for the media and the public at large. Mrs. Ndissi made notable speaking engagements at various seminars and conferences held by the World Bank, OECD, EAC, SADC and AfDB, Bloomberg ( NY), and represented the Governor of the Bank of Tanzania at the Capital Markets and Securities Authority Board meetings.
Nehemia Kyando Mchechu is the Treasury Registrar – Ministry of Finance & Planning and former Director General of the National Housing Corporation and ACI Tanzania President. He was recruited for this job to undertake the restructuring of NHC following his good track record in restructuring ailing Companies.
He is currently the Chairman of Housing Development and Finance Corporation Limited, an Investment Company that has an Interest in Real Estate; the Hospitality Industry; the Agricultural Sector; the Education Sector, and Investments in Financial Institutions. He also worked as MD & CEO of CBA Bank in Tanzania before, where he was at that time the youngest CEO within the Banking sector in East Africa up to the time when he moved to NHC.
Mr. Mchechu did a transformation and restructuring of the loss-making Bank to Profit Making Bank within the shortest period of one year. Prior to CBA, Mr. Mchechu worked for Standard Chartered Bank Tanzania Limited, and in his last role, he was a Head of Global Markets and Co-Head of Wholesale Banking, during this time he was very instrumental in bringing the new second horizon financial products to Tanzania Financial Market. He has also worked for Citibank and Barclays Bank Tanzania Limited.
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As a condition of membership, all members of ACI FMA and of ACI National Associations are required to accept the principles of behavior and market practice espoused by the FX Global Code and to follow other relevant market-applicable Codes of Conduct endorsed by ACI FMA. ACI FMA may release further guidance and recommended best practice advice from time to time to which members are expected to adhere to.
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