Executive Management

CORPORATE GOVERNANCE

EXECUTIVE MANAGEMENT

Mr. Arphaxad G A Masambu

CHIEF EXECUTIVE OFFICER

Mr Arphaxad G. A. Masambu (61) is a Tanzanian. He holds a BA degree in Economics (Hons) from the University of Dar es Salaam (1982 –1985), Graduate Diploma in Economics (1992/1993) and Master of Economics from the Australian National University, Canberra, Australia (1993/1994). He holds a Certificate in Stock Broking and Securities Dealership Business issued by the CMSA in corrabolation with GMA Capital Limited of Ireland as trainers under the Securities Industry Certification Courses (SICCs); and a Licence in Capital Markets Development, Stock Broking and Dealership issued by the CMSA. Also, He has a Certificate in Financial Markets Development and Financial Securities Trading (i.e. Bonds and Treasury Bills Trading); and a Certificate in Directorship and Corporate Governance from Tanzania Institute of Directors (IoDT) Certification Programmes (IoDT. Member Reg No.

MIoDT 041).

He is currently the Chief Executive Officer of National Investments PLC (NICOL). Before joining NICOL he has been able to hold different positions in different capacities as: General Manager of Rasilimali Limited for 7 years; Board Member on the Rasilimali Board for five years; Board Member of TCCIA Investment Company PLC for 13 years; Board Member of the DSE Interim Board for 11/2 years; DSE Council Member for 1 year; TOL Board Member for 51/2 years, TOL Gases PLC Board Member for 51/2 years; He is one of the pioneers of the Dar es Salaam Stock Exchange; The pioneer of Rasilimali Ltd; and a Licenced cum Authorised Dealer Representative of Rasilimali Limited for 19 years as well as the Authorised Investment Advisor for Rasilimali Ltd for 19 years. He is a member of EASEA(East Africa Stock Exchange Association) and Trainer/Resource Person for SITI-East Africa Training Institute (SITI – Securities Industry Training Institute) and Resource Person for CMSA Securities Industry Certification Courses (SICCs)

Mr Masambu has done various local and foreign training and Professional visits such as: Nairobi Stock Exchange, Johannesburg Stock Exchange, Bombay/Mumbai Stock Exchange; India National Stock Exchange and London Stock Exchange. He also worked for Tanzania Investment Bank as Senior / Principal Projects Appraisal Officer for 6 years and as Principal Planning and Development Officer for 4 years. Before that he worked with the Ministry of Labour and Manpower Development as Manpower Planning Officer; and as a Planning and Controlling officer in a World Bank Project namely RIDEP Shinyanga under the Prime Minister’s Office.

EXECUTIVE MANAGEMENT

CPA. Erasto G Ngamilaga

CHIEF FINANCIAL OFFICER

CPA Erasto Ngamilaga joined NICOL as the Chief Financial Officer in year 2017. Prior to 2017, CPA Erasto Ngamilaga worked as the Audit Consultant at various Audit Firms. He has over 12 years experience in financial management, administration, strategical and business formulation including tax and project management skills.

Before joining NICOL he was the Credit Risk Manager, Acting Supply Finance Manager at Serengeti Breweries Ltd and worked closely with multinational company Diageo, the company which advocates high standards of operations and code of business conducts.

For over three years, he worked in the Mining Sector as

Finance Manager, Cost Accountant, and the project Finance Manager at TanzaniteOne Mining Ltd and left the company on year 2011 to take up other growth opportunities.

Erasto Ngamilaga started his career in 2004 at NMB Plc whereby for the five years he served in various roles in the operation department and Finance Department until year 2008 when he left the Bank as the senior financial analyst. CPA. Erasto Ngamilaga was also appointed as the Team Manager to facilitate transformation process of the NMB Bank.

Mr. Erasto Ngamilaga holds Bachelor of Accounts (BA) from Tanzania Institute of Accountancy (TIA) and is a Certified Public Accountant CPA (T).