By ETimes
HARARE – CBZ Bank has announced the appointment of Gift Simwaka as its new Managing Director, effective September 1, 2024.
Simwaka brings to the role over 26 years of experience in the financial services sector, with a diverse background in trade and project finance, transaction banking, and regulatory policy formulation.
He began his illustrious career in 1993 as an executive trainee with Citi Bank Zambia Limited, eventually rising to the position of Country Head of Financial Institutions Business Portfolio.
His career trajectory saw him take on various roles at the Central Bank of Zambia, including bank examiner, senior manager of payment system regulation, and head of the regulatory policy unit.
Simwaka’s expertise also extended to regional financial institutions, where he held significant positions at the African Trade Insurance Agency (ATI) and the African Export-Import Bank (Afrexim Bank). Most recently, he served as an advisor at Faber Capital.
The appointment marks a new chapter for CBZ Bank as it aims to leverage Simwaka’s extensive experience in the financial sector.
Simwaka’s deep understanding of both regional and international banking landscapes is poised to drive CBZ Bank’s strategic initiatives forward.
CBZ Holdings Group chief executive officer Lawrence Nyazema stated that Simwaka’s leadership will be instrumental in steering the bank through its next phase of growth and innovation.
“He brings diverse experience in originating and structuring trade and project finance transactions in Eastern and southern Africa, transaction banking, regulatory policy formulation and financial sector wide analysis and oversight,” he said.
Simwaka holds a Bachelor of Arts in Economics from the University of Zambia and an MBA in Finance from California State University, Hayward, among other qualifications.