Bulawayo, (New Ziana) – Entrepreneur and legal expert Tawanda Nyambirai has broken his silence following a public backlash over plans to rename Steward Bank to TN CyberTech Limited, assuring stakeholders that a formal explanation will be provided through official channels.
Nyambirai founded the bank in 2008 as TN Bank Limited before selling it to Econet in 2013, after which it was rebranded as Steward Bank.
However, the recent developments have ignited fierce debate, with critics questioning its necessity and branding appeal.
Nyambirai, now back in majority control, maintains the change aligns with his long-term vision for the financial institution.
Responding on his X (formerly Twitter), Nyambirai clarified that while he cannot speak on behalf of Steward Bank or EcoCash Holdings, he vowed to push for an official disclosure via the Zimbabwe Stock Exchange (ZSE).
“A legal notice on the change of name of Steward Bank Limited has generated a lot of interest here on X.
“We shall seek the authority of the Zimbabwe Stock Exchange to publish an update on the name changes. The update shall seek to answer some of the questions that have been raised,” he said.
Responding to claims that TN CyberTech lacks resonance, Nyambirai argued that brand value is built over time, citing global examples like Wells Fargo, which also bore its founders’ names.
“A name looked at in abstract might be meaningless. But the way the owner carries the name gives it value. Many Zimbabwean bank names lack obvious meanings, yet their strength lies in how they deliver on their promises.
“The present generation would have demanded that Henry Wells and William Fargo change names first, before they named their banks, Wells Fargo after themselves
“But the way the Bank has carried its name has created a lot of equity around the brand. A lot can be said about other bank names that do not seem to have any obvious meaning at all. But the goodness of name will depend upon how the owner of the name carries the name,” said Nyambirai.
The rebranding process, he noted, will follow stringent corporate governance procedures, including shareholder consultations.
As scrutiny grows, Nyambirai’s challenge remains convincing the public that the new identity will uphold or surpass the bank’s legacy.
New Ziana
