Leadership changes at CBZ

Seasoned banker Gift Simwaka has stepped down as Managing Director of Commercial Bank of Zimbabwe (CBZ) Bank, just months after his appointment in September last year.

He replaced Lawrence Nyazema.

Simwaka started his career as an executive trainee with Citi Bank Zambia Limited in 1993 and rose through the ranks to country head of Financial Institutions Business Portfolio.

In 1996, the banker joined the Central Bank of Zambia and occupied various positions such as bank examiner, senior bank examiner, senior manager (Payment system regulation and oversight), senior manager (Business Continuity), head regulatory policy unit and executive assistant to the governor.

Simwaka holds a bachelor of Arts Economics degree from the University of Zambia, MBA (Finance) from California State University, Hayward, certificate in Applied Statistics, California State University, Hayward and various professional and management qualifications.

Apparently, Norman Mhondiwa, the bank’s Chief Financial Officer CFO, is acting Managing Director.

Meanwhile, Tawanda Gumbo has exited his role as Group CFO after five years in the position.

His successor is Joel Makombe previously Divisional Director of Group Finance.

Zwnews